KENNAMETAL INC — Director's Dealing 2004

Dec 23, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KENNAMETAL INC (KMT)
CIK: 0000055242
Period of Report: 2004-12-22

Reporting Person: WESSNER MICHAEL P (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-22	Common Stock	M	5000	$29.2813	Acquired	23572.3497	Direct
2004-12-22	Common Stock	S	100	$50.62	Disposed	23472.3497	Direct
2004-12-22	Common Stock	S	1300	$50.65	Disposed	22172.3497	Direct
2004-12-22	Common Stock	S	900	$50.67	Disposed	21272.3497	Direct
2004-12-22	Common Stock	S	500	$50.68	Disposed	20772.3497	Direct
2004-12-22	Common Stock	S	600	$50.69	Disposed	20172.3497	Direct
2004-12-22	Common Stock	S	100	$50.7	Disposed	20072.3497	Direct
2004-12-22	Common Stock	S	400	$50.71	Disposed	19672.3497	Direct
2004-12-22	Common Stock	S	200	$50.75	Disposed	19472.3497	Direct
2004-12-22	Common Stock	S	100	$50.76	Disposed	19372.3497	Direct
2004-12-22	Common Stock	S	100	$50.79	Disposed	19272.3497	Direct
2004-12-22	Common Stock	S	700	$50.66	Disposed	18572.3497	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-22	Non-Qualified Stock Option (right to buy)	$29.2813	M	5000	Disposed	2011-01-05	Common Stock (5000)	Direct

Footnotes

F1: Includes 25.442 shares acquired pursuant to tax-conditioned plans (exempt under Rule 16b-3(c)).

F2: The option vested in three annual installments on January 8, 2002, January 8, 2003 and January 8, 2004.