The Timken Company Declares Quarterly Dividend

    CANTON, Ohio, Jan. 31 -- The board of directors of
The Timken Company today declared a quarterly cash dividend of 13 cents per
share. The dividend is payable on March 4, 2003 to shareholders of record as
of February 14, 2003.  It will be the 323rd consecutive dividend paid on the
common stock of the company.
    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 a provider of related products and services.
With operations in 24 countries, the company employs about 18,000 people
worldwide and recorded 2002 sales of U.S. $2.6 billion.

    Media Contact:
    Carol Titus
    Communications Manager
    (330) 471-3757
    Or visit http://www.timken.com/media

    Investor Contact:
    Richard J. Mertes
    Manager - Investor Relations
    (330) 471-3924