Timken Acquisition to Extend Energy Product Portfolio

Deal Will Combine Leading Oil and Gas Drilling and Extraction
Products with Wide Range of Alloy Steel Bars and Tubes
CANTON, Ohio--(Business Wire)--The Timken Company (NYSE: TKR) today announced that it has entered
into an agreement to acquire the assets of Boring Specialties Inc.
(BSI), a leading provider of a wide range of precision deep-hole oil
and gas drilling and extraction products and services. Based in
Houston, Texas, BSI had 2006 sales of approximately $48 million and
employs 190 people.

The acquisition will extend Timken's presence in the growing
energy market by adding BSI's value-added products to its wide range
of alloy steel products for oil and gas customers. Terms of the
acquisition, which Timken expects to be accretive during the first
year of ownership, were not disclosed.

Founded in 1972 by Charlie Elder, BSI primarily serves the oil and
gas industry, with value-added products used in the manufacture of
down-hole drilling and completion components. Timken steel is used in
a number of BSI's products. Elder will continue as president of the
new entity following successful completion of the transaction.

"Customers operating in an oilfield environment face some of the
most demanding conditions on earth, and both Timken and BSI provide
the products they need to succeed," said Salvatore J. Miraglia,
president - Steel Group. "As the search for new energy reserves goes
farther afield and deeper below the surface, we believe that together
we can capitalize on growth opportunities that alone we could not have
tapped."

The transaction is subject to customary closing conditions,
including expiration or termination of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
Timken expects the transaction to close in the first quarter of 2008.

Timken solutions span a variety of energy and power-generation
applications from windmill gearboxes to energy exploration. The
demanding conditions encountered in oil and gas drilling lead
companies to turn to Timken for high-quality steel products that can
withstand the extremes encountered below the earth's surface.

About The Timken Company

The Timken Company (NYSE: TKR, http://www.timken.com) keeps the
world turning, with innovative friction management and power
transmission products and services, enabling our customers to perform
faster and more efficiently. With sales of $5.0 billion in 2006,
operations in 26 countries and approximately 25,000 employees, Timken
is Where You Turn(TM) for better performance.

Certain statements in this news release (including statements
regarding the company's expectations) that are not historical in
nature are "forward-looking" statements within the meaning of the
Private Securities Litigation Reform Act of 1995. In particular, the
statements related to expectations regarding the accretion and timing
of the acquisition are forward-looking. The company cautions that
actual results may differ materially from those projected or implied
in forward-looking statements due to a variety of important factors,
including: the inability to complete the acquisition due to either the
failure to satisfy any condition to the closing of the transaction,
including receipt of regulatory approval, or the occurrence of any
event, change or other circumstance that could give rise to the
termination of the purchase agreement; the risks associated with the
integration of acquired business; and adverse changes in the markets
served by Boring Specialties. These and additional factors are
described in greater detail in the company's Annual Report on Form
10-K for the year ended Dec. 31, 2006, page 40, and in the company's
Quarterly Report on Form 10-Q for the quarter ended September 30,
2007. The company undertakes no obligation to update or revise any
forward-looking statement.

The Timken Company
Media Contact:
Jeff Dafler, 330-471-3514
Manager - Global Media & Government Relations
Facsimile: 330-471-7032
jeff.dafler@timken.com
or
Investor Contact:
Steve Tschiegg, 330-471-7446
Manager - Investor Relations
Facsimile: 330-471-2797
steve.tschiegg@timken.com
or
For Additional Information:
www.timken.com/media
www.timken.com/investors

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