KENNAMETAL INC - Director's Dealing 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KENNAMETAL INC (KMT)
CIK: 0000055242
Period of Report: 2004-12-20

Reporting Person: BREISINGER JAMES R (Vice President)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-20	Common Stock	M	3000	$30.8125	Acquired	36942.7782	Direct
2004-12-20	Common Stock	F	1838	$50.13	Disposed	35104.7782	Direct
2004-12-20	Common Stock	M	2500	$37.0625	Acquired	37604.7782	Direct
2004-12-20	Common Stock	S	2500	$50.02	Disposed	35104.7782	Direct
2004-12-20	Common Stock	M	1100	$37.0625	Acquired	36204.7782	Direct
2004-12-20	Common Stock	S	1100	$50.05	Disposed	35104.7782	Direct
2004-12-20	Common Stock	M	900	$24.4688	Acquired	36004.7782	Direct
2004-12-20	Common Stock	S	900	$50.05	Disposed	35104.7782	Direct
2004-12-20	Common Stock	M	1000	$24.4688	Acquired	36104.7782	Direct
2004-12-20	Common Stock	S	1000	$50.08	Disposed	35104.7782	Direct
2004-12-20	Common Stock	M	4200	$24.4688	Acquired	39304.7782	Direct
2004-12-20	Common Stock	S	4200	$50.1	Disposed	35104.7782	Direct
2004-12-20	Common Stock	M	3528	$24.4688	Acquired	38632.7782	Direct
2004-12-20	Common Stock	S	3528	$50.25	Disposed	35104.7782	Direct
2004-12-20	Common Stock	M	400	$37.0625	Acquired	35504.7782	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-20	Incentive Stock Option (right to buy)	$30.8125	M	3000	Disposed	2006-07-31	Common Stock (3000)	Direct
2004-12-20	Non-Qualified Stock Option (right to buy)	$24.4688	M	900	Disposed	2010-07-21	Common Stock (900)	Direct
2004-12-20	Non-Qualified Stock Option (right to buy)	$24.4688	M	1000	Disposed	2010-07-21	Common Stock (1000)	Direct
2004-12-20	Non-Qualified Stock Option (right to buy)	$24.4688	M	4200	Disposed	2010-07-21	Common Stock (4200)	Direct
2004-12-20	Non-Qualified Stock Option (right to buy)	$24.4688	M	3528	Disposed	2010-07-21	Common Stock (3528)	Direct
2004-12-20	Non-Qualified Stock Option (right to buy)	$37.0625	M	2500	Disposed	2005-07-29	Common Stock (2500)	Direct
2004-12-20	Non-Qualified Stock Option (right to buy)	$37.0625	M	1100	Disposed	2005-07-29	Common Stock (1100)	Direct
2004-12-20	Non-Qualified Stock Option (right to buy)	$37.0625	M	400	Disposed	2005-07-29	Common Stock (400)	Direct

F1: Includes 158.5837 shares acquired pursuant to tax-conditioned plans (exempt under Rule 16b-3(c)).

F2: The option vested in three annual installments on July 24, 2001, July 24, 2002 and July 24, 2003.