
                                                                  EXHIBIT 99

                                                            January 23, 1998

                                                           Immediate Release

                       KENNAMETAL POSTPONES PUBLIC OFFERINGS
                           DUE TO UNFAVORABLE STOCK PRICE
                       -------------------------------------

LATROBE, Pa., January 23, 1998.  Kennametal Inc. (NYSE:KMT) announced today 
that it has decided to postpone its previously announced public offerings of 
4,300,000 shares of common stock and 4,500,000 FELINE PRIDES, along with a 
related $450 million subsequent senior debt offering.  Kennametal said it made 
this decision because of the recent decline in its stock price due to 
unfavorable stock market conditions.  Net proceeds from the equity offerings 
would have been used to retire debt incurred in connection with its recent 
acquisition of Greenfield Industries, Inc.

President and Chief Executive Officer Robert L. McGeehan remarked that 
Kennametal's current five-year credit facility provided the flexibility to 
postpone the offerings because it makes available more than adequate long-term 
capital to pursue Kennametal's business plans, including the integration of 
the Greenfield acquisition.  He added that although Kennametal desires to 
restructure its balance sheet with additional equity to return to its targeted 
debt-to-capital ratio, the Company decided, considering the best interests of 
its shareholders, not to proceed with the offerings in the current market 
environment, as the stock price is not reflective of the Company's inherent 
value.  Kennametal intends to proceed with an appropriate offering when stock 
market conditions are more favorable.

This release contains "forward-looking statements" as defined by Section 21E 
of the Securities Exchange Act of 1934.  Actual results can differ from those 
herein to the extent that economic conditions in the United States, Asia 
Pacific and Europe are not sustained.

                                     -END-
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CONFIDENTIAL		KENNAMETAL INC.

-EdgarK1-23-98.doc-Travel Dept.
February 13, 1998  11:03 AM



