Exhibit 99

     Carpenter Technology Elects Dr. C. Paul Robinson to Board Of Directors

     WYOMISSING, Pa.--(BUSINESS WIRE)--Oct. 26, 2004--Carpenter Technology
Corporation (NYSE:CRS) announced today that Dr. C. Paul Robinson, president of
Sandia Corporation, a Lockheed Martin Company, and director of Sandia National
Laboratories, had been elected to the engineered materials company's Board of
Directors. Dr. Robinson will serve on the Board's corporate governance and human
resources committees.
     In addition to managing Sandia National Laboratories for the US Department
of Energy's National Nuclear Security Administration, Robinson, 64, is also a
member of the Strategic Advisory Group for the Commander, US Strategic Command,
and chairs the Policy Committee.
     Previously, he served on the Department of Defense Threat Reduction
Committee and was Chair for the Presidential Technical Advisory Group on
Verification of Warhead Dismantlement and Special Nuclear Materials Controls. He
also served on the Scientific Advisory Group on Effect for the Defense Nuclear
Agency, and is active on Defense Science Board studies.
     From 1988 - 90, upon appointment by Presidents Reagan and Bush, Dr.
Robinson served as Ambassador and Chief Negotiator for the U.S. Delegation to
the US/USSR Nuclear Testing Talks in Geneva.
     Dr. Robinson holds a bachelor's degree in physics from Christian Brothers
College, a Ph.D. in physics from Florida State University and an honorary
doctorate from Christian Brothers College.
     Carpenter also announced that Kenneth L. Wolfe, retired chairman and chief
executive officer of Hershey Foods Corporation, resigned from Carpenter's Board
of Directors and Robert N. Pokelwaldt, retired chairman, president and chief
executive officer of York International Corporation will be retiring from
Carpenter Technology Corporation's board of directors effective October 25,
2004. With these changes, Carpenter's board consists of 10 directors, nine of
whom are independent.
     Carpenter, based in Wyomissing, Pa., is a leading manufacturer and
distributor of specialty alloys and various engineered products. More
information about Carpenter is available at www.cartech.com.

     CONTACT: Carpenter Technology Corporation, Wyomissing
              Jaime Vasquez, 610-208-2615
              Jvasquez@cartech.com