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CARPENTER TECHNOLOGY LICENSES FERRIUM® S53 ALLOY

February 07, 2007

EVANSTON, IL, (February 7, 2007) – QuesTek Innovations LLC and Carpenter Technology Corporation (NYSE: CRS) have entered into a license agreement whereby Carpenter will produce and market QuesTek’s Ferrium S53 ultrahigh-strength corrosion resistant stainless alloy.

QuesTek applied its Materials by Design® technology to create the alloy meeting US Air Force specifications for use in aircraft landing gear. Carpenter’s Vice President Business Development and Chief Technology Officer Sunil Widge stated “Carpenter is excited to add Ferrium S53 to our portfolio of specialty alloys. By supplementing our existing product offering, which includes Carpenter’s proprietary Custom 465® stainless and AerMet® alloys, we are able to expand our offerings to the aerospace structural market. QuesTek’s innovative materials design methodology has resulted in a unique alloy and promising product for Carpenter.”

Ferrium S53 is an alternative to 300M and other high-strength alloys that have been used in landing gear components when there is desire for environmental and performance reasons to eliminate cadmium coatings. This ultrahigh-strength corrosion resistant material may also be considered for other aerospace applications including rotary gear actuators, fasteners, and other structural components.

On the collaboration with Carpenter, QuesTek President and Chief Executive Officer Charles Kuehmann remarked, “QuesTek is excited to join forces with Carpenter to bring our Ferrium S53 steel to market. Carpenter’s excellent reputation for quality and strong presence in the aerospace community makes this alliance a great match.”

Carpenter has licensed relevant trademarks and will market the alloy under the Ferrium S53 alloy name. An AMS specification for this material is anticipated later this year.

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. For product information and material availability, contact Steve Heffner at 610-208-3331 or Customer Service at 1-800-654-6543.

QuesTek Innovations LLC (www.questek.com) is a global leader in Integrated Computational Materials Engineering (ICME) technologies, serving government and industrial private sectors. Using its proprietary Materials by Design® methodology, QuesTek has rapidly developed breakthrough alloys (based on Fe, Cu, Al, Ti, Co, Mo, W systems), coatings, powders, and other materials that provide improved performance, reduced capital (as well as operating and maintenance costs) and provide competitive advantage. QuesTek has developed four steels that are being used in demanding aerospace and other applications, has a large portfolio of other materials nearing commercialization with more than 20 US patents awarded/pending and relevant international IP coverage. For more information, please contact Jeff Grabowski.

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