Timken Latrobe Steel is changing its pricing policy to ‘price in effect at time of shipment’ to select market segments, effective with shipments on April 1, 2005. Timken Latrobe will temporarily suspend its 50% cancellation charge during the month of February on any planned orders to customers affected by this policy change.

"This change in policy will enable Timken Latrobe to increase the speed of various planned capital projects to better service the demands being placed on the specialty steel industry. In addition, this policy change will better align Timken Latrobe with some of the market segments we serve," said Hans J. Sack, President of Timken Latrobe Steel.

Raw material surcharges will continue to remain in effect.

Timken Latrobe Steel, a subsidiary of The Timken Co., is a leading specialty steel producer in North America. The Timken Co. is a leading global manufacturer of highly engineered bearings and alloy steels and a provider of related products and services with operations in 27 countries. A Fortune 500 company, Timken recorded 2003 sales of $3.8 billion and employed approximately 26,000 at year-end.