SKF Acquires Leading US Based Bearing Company with Manufacturing in China and Thailand


SKF has signed an agreement with the owners of PEER Bearing Company (PEER) to
acquire PEER and its manufacturing operations in China and Thailand. The company
manufactures mainly deep groove ball bearings and tapered roller bearings.

PEER is a US based bearing company selling primarily to North American
customers. In 2007 the sales were almost 100 MUSD and the number of employees
approximately 1400.

SKF is acquiring PEER to strengthen its presence in the North American market in
certain segments, not currently served by SKF, such as Lawn & Garden and
Mechanical Power Transmission. PEER will continue to operate as a stand alone
business, acting independently on the market under its existing brand PEER.

The acquired manufacturing plants are located in Xinchang and Changshan, China
and Rayong, Thailand.

The acquisition is subject to certain conditions to closing and requires approvals by
relevant authorities.

For further information, please contact:
PRESS:
Ingalill Östman,
SKF Group Communication,
tel. +46 (0)31 337 3260,
e-mail: Ingalill.Östman@skf.com

IR:
Marita Björk,
SKF Investor Relations,
tel:+46 (0)31 3371994,
e-mail: marita.bjork@skf.com

US Contact:
Gus Sortino,
SKF USA Inc.,
tel 215-513-4733,
email: gus.c.Sortino@skf.com

Aktiebolaget SKF
SE-415 50 Göteborg, Sweden
Tel +46-31-337 10 00
Fax +46-31-337 28 32
www.skf.com

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