Timken and XEMC Announce Chinese Wind Energy Joint Venture

Bearings for wind turbines will help China meet alternative energy
goals with advanced technology
CANTON, Ohio--(Business Wire)--The Timken Company (NYSE: TKR) today announced an agreement with
Chinese heavy equipment manufacturer Xiangtan Electric Manufacturing
Co., Ltd. (XEMC) to establish a joint venture in China to manufacture
ultra-large-bore bearings for main rotor shafts of multi-megawatt wind
turbines for the Chinese wind energy market. The joint venture is
expected to contribute to China's goal of generating 30 million
kilowatts of power from wind energy systems by 2020, providing a
renewable energy source for China's rapidly expanding economy.

The joint venture will build a new $38 million facility in
Xiangtan, located in China's Hunan province, to collaborate on the
manufacture of main-shaft bearings for wind turbines. Timken and XEMC
expect to employ more than 110 people in the joint venture.
Construction of the new facility is scheduled to begin in 2008.

The agreement was unveiled today in Beijing at a ceremony attended
by China's Ministry of Commerce Vice-Minister, Jiang Zeng Wei, and
U.S. Secretary of Commerce Carlos M. Gutierrez, who is visiting China
to encourage bilateral trade and investment that will strengthen the
U.S. and Chinese economies.

"Timken's partnership in China will provide $100 million in
exports, while also helping China expand alternative energy, wind
power, which helps the planet," said U.S. Secretary of Commerce Carlos
M. Gutierrez.

Timken power transmission and friction management solutions are
particularly well-suited to improving the performance, durability and
reliability of wind turbine systems. By combining Timken's alloy steel
expertise, power-transmission design and precision manufacturing
capabilities with XEMC's leadership in heavy-equipment manufacturing
in the Chinese market, the joint venture will be well-positioned to
meet the needs of China's rapidly growing wind energy industry. Timken
will have an ownership stake of 80 percent in the joint venture.

"Timken has continued to invest heavily in China since entering
this country in 1992, and the joint venture with XEMC is the latest
example of our commitment to meet the needs of Chinese customers as
they participate in one of the most important economic expansions the
world has ever witnessed," said Roger Lindsay, Timken's senior vice
president for Asia. "We believe our collaboration with XEMC will
contribute to Chinese economic growth while also advancing the use of
sustainable energy to the benefit of us all."

In addition to Timken's participation in the wind energy industry,
the company has developed a wide range of products that contribute to
sustainability by improving the operating efficiency and power density
of diverse types of machinery.

About The Timken Company

The Timken Company (NYSE: TKR, 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.

The Timken Company
Media:
Jeff Dafler, 330-471-3514
Manager - Global Media & Government Relations
Facsimile: 330-471-7032
jeff.dafler@timken.com
or
Investor:
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

Copyright Business Wire 2007