Timken Increases 2004 Earnings Estimate; Company to Announce 2004 Results February 1

Timken is increasing its 2004 earnings estimate, excluding special items, to $1.30 to $1.35 per diluted share, up from its previous estimate of $1.20 to $1.25. The company estimates fourth quarter earnings of 39 cents to 44 cents per diluted share, excluding special items, an increase of 10 cents from its prior estimate.

CANTON, OHIO — Timken is increasing its 2004 earnings estimate, excluding special items, to $1.30 to $1.35 per diluted share, up from its previous estimate of $1.20 to $1.25. The company estimates fourth quarter earnings of 39 cents to 44 cents per diluted share, excluding special items, an increase of 10 cents from its prior estimate.

According to James Griffith, president and CEO, strong end markets benefiting the Steel and Industrial Groups, increased productivity and material cost recovery are benefiting the bottom line at a faster pace than previously anticipated. “2004 was a good year, with the continuing strength of the global economic upturn fueling demand for our products,” said Griffith. “The foundation we have laid with aggressive actions, including the Torrington acquisition and material cost recovery efforts, have enabled us to leverage the increased volume.”

The company will announce its 2004 annual and fourth quarter financial results and provide its outlook for 2005 on February 1, before the opening of the New York Stock Exchange.

For more information, go to: www.timken.com.

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