Exhibit 99

                   Carpenter Technology Corporation

    WYOMISSING, Pa.--(BUSINESS WIRE)--Nov. 12, 2004--Carpenter
Technology Corporation (NYSE:CRS) today announced that certain
production and maintenance employees located at Carpenter's Specialty
Alloys Operations in Reading, Pennsylvania voted on November 11th not
to be represented by the United Steel Workers of America for
collective bargaining. The results of the election are subject to
objections and final certification by the National Labor Relations
Board.
    Carpenter produces and distributes specialty alloys, including
stainless steels, titanium alloys and superalloys, and various
engineered products. Information about Carpenter can be found on the
Internet at www.cartech.com.

    CONTACT: Carpenter Technology Corporation
             Investor and Media Inquiries:
             Jaime Vasquez, 610-208-2165
             jvasquez@cartech.com