Timken Chairman W.R. Timken, Jr. Announces Retirement

W. R. Timken, Jr. announced today that he will retire as an executive of The Timken Company on Dec. 31, 2003. He will continue to serve as chairman of the "I have long planned to finish active management at the end of this year when I turn 65 years old, which is the maximum retirement age for Timken executives," said Mr. Timken. "An excellent management team is in place under the leadership of Jim Griffith. They have been tested, and I have great confidence that they will move the company forward to outstanding success."James W. Griffith was elected president and chief operating officer and a director in 1999 and was elected chief executive officer in 2002."While I no longer will have operational responsibilities at the company, my role on the board will continue as I serve as non-executive chairman," added Mr. Timken. "I will be responsible for the effective functioning of the board and its relationship with executive management."The Timken