Feb. 14, 2006 — Carpenter Technology Corp. has appointed Dr. J. Michael Fitzpatrick as Vice Chairman, effective February 14, 2006. Dr. Fitzpatrick will also continue to serve as a member of the Board, on which he has served since 1997.

In his new executive position, Dr. Fitzpatrick will report directly to Robert J. Torcolini, Chairman, President and CEO. He will work closely with Torcolini and the company's senior management team on further developing and executing a strategic growth plan for Carpenter.

Mr. Torcolini commented, "Carpenter is extremely fortunate to have Mike become an integral part of our management team. The company continues to perform very well and is positioned for further growth and diversification. Mike's perspective as a Board member, combined with his business background and experience, will be an asset as we leverage the company's strengths, take advantage of market opportunities, and deliver superior business results in the years ahead."

Fitzpatrick, 59, brings extensive experience in strategic planning, operations and technology management, international business and mergers and acquisitions. He holds a PhD in Chemistry from Rice University, and joined Rohm and Haas, a specialty chemical company, in 1975 shortly after completing his post-doctoral studies at Harvard. While at Rohm and Haas, he held positions in research and marketing and had general management responsibilities for 13 years in Brazil, Italy, Mexico, and the U.K. After returning to the U.S., he later became President and COO.

Based in Wyomissing, Pa., Carpenter Technology Corp. is a leading manufacturer and distributor of specialty alloys and engineered products.