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Price Increase From TIMKEN

31 May 2000

May 31 The Timken Corporation announced today a price increase on all carbon and alloy steel heat-treated products. Spot market prices for all double and triple thermal-treated products will increase by $50 per ton effective with new orders placed after June 1, and scheduled for delivery after September 1. A corresponding increase on single thermal-treated products is currently under review. "The increase is being driven by rapidly rising natural gas prices and processing cost increases associated with very strong demand for heat-treated products," said Bob Keeler, director-sales-steel. The Timken Company is a leading international manufacturer of highly engineered bearings and alloy steels with operations in 24 countries. The company employs about 21,000 people worldwide and reported 1999 sales of U.S. $2.5 billion.