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The Timken Company in Discussions with British Tube Manufacturer

16 October 1998

The Timken Company in Discussions with British Tube Manufacturer

    CANTON, Ohio, Oct. 16 -- The Timken Company
announced today that it has entered into discussions with the Hay Hall Group
Ltd. which could result in the acquisition of Desford Tubes Ltd., a steel
tubing manufacturer in Leicester, England.
    "Desford would be part of our strategy to profitably grow and expand
operations outside the U.S. by building on our core competencies," said Bill
J. Bowling, executive vice president, chief operating officer and president -
steel.  "The facility would offer an excellent base on which to grow our steel
business in Europe."
    Desford, which is owned by the Hay Hall Group, opened in 1942.  The
operation had 1997 sales of $80 million.
    "The facility is similar to our existing operations, producing seamless
mechanical tubing of the consistent quality necessary for bearing, automotive,
off-highway and defense applications," said Karl P. Kimmerling, group vice
president - alloy steel.  "The operation would generate significant sales
without requiring major capital investment."
    Timken steel products, including bars, tubes and precision steel
components, are highly engineered for specialty applications.  Timken first
expanded steel manufacturing operations outside the U.S. in 1996 with the
acquisition of a tool steel finishing and distribution business located in
England.  That operation has since been named Timken Latrobe Steel - Europe.
    The Timken Company (NYSE: TKR; http://www.timken.com) is a leading international
manufacturer of highly engineered bearings and alloy steels with operations in
25 countries.  The company employs 21,000 people worldwide and reported 1997
sales of more than U.S. $2.6 billion.