KENNAMETAL INC — Director's Dealing 2005

Jul 27, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KENNAMETAL INC (KMT)
CIK: 0000055242
Period of Report: 2005-07-25

Reporting Person: BAGLEY R DANIEL (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-07-25	Common Stock	A	1010	—	Acquired	12527.1382	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-07-25	Stock Credits	$	A	2399.7135	Acquired		Common Stock (2399.7135)	Direct
2005-07-25	Stock Option (right to buy)	$50.605	A	5000	Acquired	2015-07-24	Common Stock (5000)	Direct

Footnotes

F1: Includes 159.584 shares acquired pursuant to tax-conditioned plans (exempt under Rule 16b-3(c)).

F2: The amount in Colunm 9 includes 15.5721 of stock credits acquired pursuant to a dividend reinvestment feature of the Kennametal Inc. Performance Bonus Stock Plan of 1995, the terms of which are substantially similar to the Dividend Reinvestment Plan available to Kennametal's shareholders (exempt pursuant to Rule 16a-11 of the Securities Exchange Act of 1934).

F3: 1-for-1

F4: The stock credits become payable in common stock (i) in the event of a change of control of the company, or (ii) on the date that the reporting person ceases (other than by reason of death) to be an officer ("retirement"), unless the reporting person has elected to receive the common stock represented by the stock credits following retirement.

F5: Option is exercisable in four equal annual installments, commencing on the first anniversary of the grant date.