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The Timken Company Declares Quarterly Dividend

21 April 1998

The Timken Company Declares Quarterly Dividend

    CANTON, Ohio, April 21 -_ The board of directors of The
Timken Company today declared a quarterly cash dividend of
eighteen (18) cents per share.  The dividend is payable on June 1, 1998, to
shareholders of record at the close of business on May 15, 1998.  It will be
the 304th consecutive dividend paid on the common stock of the company.
    Share price appreciation is the second component of total shareholder
return.  In 1997, the company's common stock rose to a record $41 per share
before falling by year end.  "Still, we recorded a 50 percent stock price
increase during the year," said W. R. Timken, Jr., chairman, president and
chief executive officer.  "With all-time records in sales and earnings for
1998's first quarter, we are outperforming the S&P 500 average.  Our Timken
stock currently is selling at a 50 percent discount from market price earnings
multiples while we continue to outperform many companies in earnings growth."
    The Timken Company is a leading international manufacturer of
highly engineered bearings and alloy steels.  The company employs some 21,000
people worldwide and reported 1997 sales of more than $2.6 billion.

SOURCE  The Timken Company