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As previously announced, Kennametal Inc. adopted SFAS No. 142 "Goodwill and Other Intangible Assets" effective July 1, 2001, and accordingly will no longer amortize goodwill to earnings.

To facilitate comparisons, the following charts restate selected fiscal 2001 financial results to exclude goodwill amortization (in thousands, except per share amounts).

   Selected Pro Forma Fiscal Year 2001 Restatement
   Excluding Special Charges

                1st Qtr      2nd Qtr      3rd Qtr      4th Qtr        2001
               ________     ________     ________     ________    ________

  Amortization of
   intangibles     $923         $770         $703         $716      $3,112

  Provision for
   income taxes   9,366        9,751       14,760       12,501      46,378

  Minority
   interest       1,111          967          800          862       3,740

  Net income    $15,907      $19,290      $27,980      $23,514     $86,691
                =======      =======      =======      =======     =======

  Pro forma
   Diluted EPS    $0.52        $0.63        $0.91        $0.76       $2.82
                =======      =======      =======      =======     =======


   Fiscal Year 2001 Goodwill Expense Summary - By Segment

                1st Qtr      2nd Qtr      3rd Qtr      4th Qtr        2001
               ________     ________     ________     ________    ________

  MSSG           $2,350       $2,339       $2,349       $2,344      $9,382
  AMSG            2,232        2,229        2,230        1,897       8,588
  J&L               687          717          766          629       2,799
  FSS                15           15           15           15          60
  Corporate         116           77            -            -         193
               ________     ________     ________     ________    ________

  Total          $5,400       $5,377       $5,360       $4,885     $21,022
                =======      =======      =======      =======     =======

Kennametal Inc. aspires to be the premier tooling solutions supplier in the world with operational excellence throughout the value chain and best-in-class manufacturing and technology. Kennametal strives to deliver superior shareowner value through top-tier financial performance. The company provides customers a broad range of technologically advanced tools, tooling systems and engineering services aimed at improving customers' manufacturing competitiveness. With 13,000 employees worldwide, the company's annual sales are approximately $1.8 billion, with a third coming from sales outside the United States. Kennametal is a five-time winner of the GM "Supplier of the Year" award and is represented in more than 60 countries. Kennametal operations in Europe are headquartered in Furth, Germany. Kennametal Asia Pacific operations are headquartered in Singapore.

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http://tbutton.prnewswire.com/prn/11690X71742635

SOURCE: Kennametal Inc.

Contact: Investor Relations, Beth A. Riley of Kennametal,
+1-724-539-3470

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