Timken Steel Tubing Prices to Increase

CANTON, Ohio, March 24 -- In response to sharply higher energy costs, The Timken Corporation today announced price increases on steel tubing products. Prices will increase by five percent for all sizes of carbon seamless steel tubing and seven percent for all sizes of alloy seamless steel tubing effective with new orders received beginning March 31, 2003.

In addition to the base price increase on steel tubing, all spheroidize- anneal, and double and triple thermal-treated tubing products will incur an additional increase of two percent.

"Increasing raw material and energy costs have created the need for us to adjust our prices. Rapidly rising natural gas prices have further impacted our manufacturing cost for heat-treated steel products," said Robert N. Keeler, director -- steel sales -- North and South America.

The Timken Corporation is a U.S. sales and marketing subsidiary of The Timken Company ( www.timken.com ). The Timken Company is a leading international manufacturer of highly engineered bearings, alloy and specialty steels and components, and a provider of related products and services. Following its February 2003 acquisition of The Torrington Company, Timken employs 28,000 people worldwide in operations in 29 countries. In 2002, the combined companies had sales of approximately $3.8 billion.

  For Additional Information:
  Jason Saragian
  Senior Marketing Communications Representative
  (330) 471-3514
  www.timken.com/media

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