Timken Board Nominates National Association of Manufacturers' President Jerry A. Jasinowski; Announces Two Retirements

CANTON, Ohio, Feb 6, 2004 /PRNewswire-FirstCall via COMTEX/ -- At a regular meeting of The Timken Company's board of directors, Jerry A. Jasinowski, president of the National Association of Manufacturers, was nominated for membership on the board and will stand for election at the annual shareholders' meeting on April 20. Two members announced their retirements.


Mr. Jasinowski has been president of the National Association of Manufacturers (NAM), the largest industry trade group in the country, since 1990. "Jerry's leadership has brought NAM to the forefront on political, economic and manufacturing trends," said W.R. Timken, Jr., chairman. "We welcome his leadership and insight to our board."


Stanley C. Gault, 78, and Martin D. (Skip) Walker, 71, will retire from the board effective April 20. Mr. Gault is retired chairman and chief executive officer of The Goodyear Tire and Rubber Company, and Rubbermaid, Inc. Mr. Walker is principal of MORWAL Investments in Westlake, Ohio and the retired chairman and chief executive officer of the M.A. Hanna Company.


"Stan and Skip have been with our board through a time of tremendous change, as the company grew, became more global and in 2003 nearly doubled in size," said Mr. Timken. "We will miss their guidance and experience."


Mr. Jasinowski, a one-time factory worker, joined the U.S. Air Force as an intelligence officer. He went on to become assistant professor of economics at the U.S. Air Force Academy. In the early 1970s, he managed research and legislative affairs for the Joint Economic Committee of Congress. In 1976, he served as director of the Carter Administration's economic transition team for the departments of Treasury, Commerce, Labor, the Council of Economic Advisors and the Federal Reserve. He later was appointed assistant secretary for policy at the U.S. Department of Commerce.


Mr. Jasinowski, 65, earned his bachelor's degree in economics from Indiana University, his master's degree in economics from Columbia University and is a graduate of the Harvard Business School's Advanced Management Program.

 

The Timken Company (NYSE: TKR, www.timken.com) is a leading global manufacturer of highly engineered bearings and alloy steels and a provider of related products and services with operations in 29 countries. The company recorded 2003 sales of $3.8 billion and employed approximately 26,000 at year-end.


Media Contact: Carol A. Titus, Communications Manager, +1-330-471-3757


Investor Contact: Kevin R. Beck, Manager - Investor Relations, +1-330-471- 7181


SOURCE The Timken Company


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