CRS Carpenter Technology Corp

Talley Metals, a subsidiary of Carpenter Technology Corporation (NYSE:CRS) announced that it is changing its surcharge mechanism to increase the nickel premium component to $.38/lb. The company said that strong market demand for nickel based stainless bar products have contributed to nickel premiums rising to exceptional levels. The change in the surcharge will go into effect with shipments beginning October 1, 2006. Talley Metals sells stainless steel long products, as well as standard precipitation-hardening grades, to U.S. metals distributors. Carpenter Technology, based in Wyomissing, Pa, is a leading manufacturer and distributor of specialty alloys, including stainless steels, titanium alloys, superalloys, and various engineered products. More information about Carpenter Technology is available at www.cartech.com.