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Timken to Increase Steel Bar Prices

May 4, 2004 — The Timken Corp. announced that it will increase non-contract prices by $30 per ton for all sizes and grades of carbon and alloy steel bars. The increase will take effect beginning with shipments on May 10, 2004.

"Increases in costs continue to challenge our steel business financials, despite surcharges addressing major cost items. The increase is necessary in our efforts to regain acceptable levels of profitability," said Robert N. Keeler, Director of Steel Sales for North and South America.

The Timken Corp. is a U.S. sales and marketing subsidiary of The Timken Co., a leading global manufacturer of highly engineered bearings and alloy steels and a provider of related products and services with operations in 27 countries. Timken recorded 2003 sales of $3.8 billion and employed approximately 26,000 at year-end.

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