CANTON, Ohio, Aug. 4 /PRNewswire-FirstCall/ -- The board of directors of The Timken Company (NYSE: TKR) today declared a quarterly cash dividend of 16 cents per share, an increase of 1 cent per share. The dividend is payable on Sept. 6, 2006, to shareholders of record as of Aug. 18, 2006. It will be the 337th consecutive dividend paid on the common stock of the company.

"The company continues to enjoy strong industrial markets and the benefits of its strategic actions that are delivering profitable growth," said Timken Chairman Ward J. Timken, Jr. "Our decision to raise the quarterly dividend reflects our confidence in our ability to drive further improvement in Timken's performance going forward and our commitment to delivering value to our shareholders."

About The Timken Company

The Timken Company (NYSE: TKR, www.timken.com) keeps the world turning, with innovative ways to make customers' products run smoother, faster and more efficiently. Timken's highly engineered bearings, alloy steels and related products and services turn up everywhere. With operations in 27 countries, sales of $5.2 billion in 2005 and 27,000 employees, Timken is Where You Turn™ 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. The company cautions that actual results may differ materially from those implied in forward-looking statements due to a variety of important factors, including: fluctuations in raw material and energy costs and the operation of the company's surcharge mechanisms; the company's ability to respond to the changes in its end markets; changes in the financial health of the company's customers; and the impact on operations of general economic conditions, fluctuations in customer demand and the company's ability to achieve the benefits of its future and ongoing programs and initiatives. 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, 2005, page 65, and in the company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2006. The company undertakes no obligation to update or revise any forward- looking statement.

NEWS MEDIA CONTACT: Jeff Dafler, Manager - Global Media Relations and Government Affairs, Telephone: (330) 471-3514, Facsimile: (330) 471-4118,jeff.dafler@timken.com

INVESTOR CONTACT: Steve Tschiegg, Manager - Investor Relations, Telephone: (330) 471-7446, Facsimile: (330) 471-2797,steve.tschiegg@timken.com

SOURCE: The Timken Company

CONTACT: Media, Jeff Dafler, Manager - Global Media Relations and Government Affairs, +1-330-471-3514, or Fax, +1-330-471-4118, or jeff.dafler@timken.com, or Investors, Steve Tschiegg, Manager - Investor Relations, +1-330-471-7446, or Fax, +1-330-471-2797, or steve.tschiegg@timken.com, both of The Timken Company