KENNAMETAL INC — Director's Dealing 2003

Jul 25, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KENNAMETAL INC (KMT)
CIK: 0000055242
Period of Report: 2003-07-24

Reporting Person: BREISINGER JAMES R (Vice President)

Footnotes

F1: The amount of securities beneficially owned following reported transaction(s) listed in column 5 of Table I of this Form 4 includes 650.5153 shares acquired pursuant to tax-conditioned plans (exempt under Rule 16b-3(c)). Specifically, the amount includes: (a) 265.021 shares acquired pursuant to the Kennametal Inc. Thrift Plan; and (b) 385.4943 shares acquired pursuant to the Kennametal Inc. Dividend Reinvestment and Stock Purchase Plan. (Please note that this footnote would normally be included in column 5 of Table I. The filing system currently used does not support footnotes to this column.)

F2: Option is exercisable in three equal installments, commencing on the first anniversary of the grant date.