The Timken Company Corrects News Report

    CANTON, Ohio, May 15 The Timken Company issued
a statement today regarding a news report issued by Nihon Keizai Shimbun news
agency.  The report, which did not cite sources, indicated that NSK and Timken
would combine operations to "create the largest group in the (bearing)
industry."  That report is incorrect.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO )
    "We have no agreement with NSK for the reported actions," said James W.
Griffith, president and chief operating officer.  "For a number of years, we
have maintained a supplier relationship with NSK and continue to maintain good
relations with them.  We have explored several limited ventures with NSK, and
none has come to fruition.  We are planning no further discussions with NSK.
    "Timken is a strong global company, committed to maintaining
independence," said Mr. Griffith.  "As the company has transformed to a more
global enterprise in the last year, we have renewed our drive for improving
our competitiveness by reducing costs and profitably growing the business.  We
continue to be interested in opportunities that create value for our
shareholders, such as our recently launched CoLinx e-business venture with
SKF, INA and Rockwell Automation."
    The Timken Company ( http://www.timken.com ) is a leading
international manufacturer of highly engineered bearings, alloy and specialty
steels and components, as well as related products and services.  With
operations in 24 countries, the company employs about 20,500 people worldwide
and recorded 2000 sales of U.S. $2.6 billion.

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