Exhibit 99





              AGREEMENT TO FURNISH DEBT INSTRUMENTS


     Pursuant to Instruction 3 (b)(4)(iii) to Item 601 of
Regulation S-K, Carpenter has not included as an Exhibit any
instrument with respect to long-term debt if the total amount of
debt authorized by such instrument does not exceed 10% of the
total assets of Carpenter.  Carpenter agrees, pursuant to this
Instruction, to furnish a copy of any such instrument to the
Securities and Exchange Commission upon request of the
Commission.




CARPENTER TECHNOLOGY CORPORATION


By   /s/John R. Welty
     -----------------
       John R. Welty
       Vice President,
       General Counsel and Secretary