RBC Bearings Incorporated Announces Share Repurchase Program

RBC Bearings Incorporated Announces Share Repurchase Program RBC Bearings Incorporated ,a leading international manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, today announced that its Board of Directors has authorized the repurchase of up to $10,000,000 of the Company's common stock. This new program replaces the $7,500,000 program that expired on March 31, 2007. Under that program, the Company repurchased 37,356 shares at an average price of $28.07 per share. Under the new program, the Company may repurchase shares from time to time on the open market, through block trades, or in privately negotiated transactions. ¡°The continuation and expansion of our stock repurchase program underscores our ongoing commitment to enhancing long-term shareholder value,¡± said Dr. Michael J. Hartnett, Chairman, President and Chief Executive Officer. ¡°This repurchase program also reflects the strong cash-generating characteristics of our business which give us the ability to not only execute this program, but also continue to pursue additional strategic growth opportunities.¡± The new program is effective immediately and does not have an expiration date. The timing and amount of specific repurchases are subject to the requirements of the Securities and Exchange Commission, market conditions, alternative uses of capital and other factors. Purchases may be commenced, suspended or discontinued at any time without prior notice.