The Timken Company Completes Sale of U.K. Tool & Die Steel Operations

    CANTON, Ohio, Feb. 26 The Timken Company
announced today that it has completed the previously announced sale of the
tool and die steel operations of Timken Latrobe Steel-Europe in Sheffield,
England, to private investors.  The new company will be called Sanderson
Specialty Steels Limited, and it will continue to employ approximately 60
employees formerly associated with the tool and die steel operations.  The new
company will offer a full product line of tool, plate and ground flat steels.

    Timken will refocus its high-speed steel business in the United Kingdom as
part of the operations of Timken Desford Steel.  The high-speed steel business
will be headed by Paul Ballin, manager - high-speed steel operations, and Les
Ellis, manager - high-speed steel sales - Europe.

    According to Hans Sack, president - specialty steel, The Timken Company,
"This sale will allow Timken to concentrate its efforts on continuing the
growth of the high-speed steel business in the United Kingdom and Europe."