September 6, 2000 - For the second consecutive year, Carpenter Technology Corp. (NYSE:CRS) has been named the winner of a supplier award sponsored by a leading trade publication for the automotive industry.

Readers of Automotive Industries, a trade publication serving automotive designers, engineers and manufacturing and purchasing managers, chose Carpenter as a superior supplier in the ferrous metals category in the magazine's third annual "Quest for Excellence" award survey. Carpenter received the same honor in 1999.

In the survey, more than 1,200 of the magazine's readers rated companies in the areas of quality, price, delivery, service/response and innovation. Winners were announced in the July issue of the magazine.

Carpenter's Specialty Alloys Operations, whose largest facility is in Reading, Pa., supplies the auto industry with advanced alloys that provide corrosion and heat resistance, strength, toughness and electrical/magnetic response. The company's alloys have been used in engine components, exhaust, safety, instrumentation and steering systems, and in advanced tooling used to manufacture automotive components. The automotive market accounted for 17 percent of the entire company's sales in fiscal 2000.

Overall, Specialty Alloys Operations manufactures more than 400 stainless and specialty alloys for aerospace, automotive, industrial and consumer markets.