Timken Specialty Steel Prices to Increase LATROBE, Pa., Dec. 22 /PRNewswire-FirstCall/ -- Timken Latrobe Steel, a subsidiary of The Timken Company, announced it would increase prices by three percent on all stainless, remelted and tool steel grades. The price change is effective with new orders received after February 1, 2004. Raw material surcharges will remain in effect. (Logo http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO ) "This increase is necessary as energy, health care and other production costs continue to escalate," said Hans J. Sack, president - Timken Latrobe Steel. "Our focus on manufacturing efficiencies has been unable to offset the influence of these macro-economic factors on our business." Timken Latrobe Steel is a leading specialty steel producer in North America. The Timken Company ( http://www.timken.com/ ) is a leading international manufacturer of highly engineered bearings, alloy and specialty steels and components, and a provider of related products and services. Timken employs 28,000 people with operations in 29 countries. In 2002, the combined Timken and Torrington companies had sales of approximately $3.8 billion. For Additional Information: Jason H. Saragian, Communications Manager, (330) 471-3514 http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO http://photoarchive.ap.org/ DATASOURCE: The Timken Company CONTACT: Jason H. Saragian, Communications Manager of Timken Latrobe Steel, +1-330-471-3514 Web site: http://www.timken.com/

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