Cathy Souders
                                        (610) 208-2639


     IMMEDIATE RELEASE


                 CARPENTER TECHNOLOGY ELECTS NEW DIRECTOR

     Reading, PA (December 9, 1994) -- Carpenter Technology

Corporation (NYSE:CRS) has elected Kathryn C. Turner, chairperson

and chief executive officer of Standard Technology, Inc. (STI),

to its Board of Directors.
     
     Turner, 47, founded STI, a high-technology, engineering,

systems integration and manufacturing firm, in 1985. STI is

headquartered in Rockville, Md., with offices in northern

Virginia; Dallas, Tex. and Jacksonville, Fla. 
     
     The company was ranked 63rd in Inc. Magazine's 1991 list of

America's 500 fastest growing private companies. Also, it was the

only small business to receive the National Aeronautics and Space

Administration Agency Honor Award in 1992. In 1994, STI had $17

million in contracts with the Department of Defense and other

federal agencies and their prime contractors. 
     
     In November 1993, Turner was appointed to the Commission on

The Future of Worker-Management Relations, a joint commission of

the Departments of Labor and Commerce, established by President

Clinton. She has participated in CEO meetings with Commerce

Secretary Ronald H. Brown and Kenneth Brody (Export-Import Bank

of the United States) regarding the Trade Promotion Coordinating 

                                   
                                   


Committee, and now serves a one-year term as a member of the

EXIMBANK Advisory Committee. Turner was the first woman appointed

to the Defense Policy Advisory Committee on Trade, an advisory

committee to the Secretary of Defense and the U.S. Trade

Representative on major policy areas such as trade negotiations,

defense trade policy, financial competitiveness and government

relations.   
     
     Turner holds a bachelor's degree in chemistry from Howard

University. After graduating, she began her career as a chemist

for the Naval Ordinance Station in Maryland. In 1969, she became

involved with software development for Control Data Corporation,

then advanced through various technical and management positions

in several firms in the Washington, D.C. area. In the late '70s,

while with General Electric's Information Services Company, she

moved to sales, where she became one of the company's top revenue

producers. 
     
     Turner becomes the thirteenth board member of Carpenter

Technology Corporation, a major producer of specialty steel long

products and high-performance alloys for aerospace, automotive,

electronics and other industries worldwide. In fiscal year 1994

(ended June 30, 1994), the company had sales of $628.8 million. 


                                   
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