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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950152-09-002108.txt : 20090908
<SEC-HEADER>0000950152-09-002108.hdr.sgml : 20090907
<ACCEPTANCE-DATETIME>20090303104417
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950152-09-002108
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20090303

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TIMKEN CO
		CENTRAL INDEX KEY:			0000098362
		STANDARD INDUSTRIAL CLASSIFICATION:	BALL & ROLLER BEARINGS [3562]
		IRS NUMBER:				340577130
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1835 DUEBER AVE SW
		CITY:			CANTON
		STATE:			OH
		ZIP:			44706-2798
		BUSINESS PHONE:		3304713078

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TIMKEN ROLLER BEARING CO
		DATE OF NAME CHANGE:	19710304
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
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<HEAD>
<TITLE>CORRESP</TITLE>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><IMG src="l35712al3571200.gif" alt="(TIMKEN LOGO)"></DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>

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<TR valign="bottom">
    <TD valign="top" style="font-size: 8pt"><DIV style="margin-left:0px; text-indent:-0px"><B>James W. Griffith</B></DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">President &#038; Chief Executive <BR>
Officer</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top" style="font-size: 9pt"><DIV style="margin-left:0px; text-indent:-0px"><BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR>
<B>The Timken Company</B></DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Mail Code: GNE-17</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1835 Dueber Avenue, S.W.</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">P.O. Box 6928</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Canton, OH 44706-0928 U.S.A.</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Telephone: (330)&nbsp;471-6399</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Facsimile: (330)&nbsp;471-4041
<BR><BR></DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
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<DIV align="justify" style="font-size: 11pt; margin-top: 36pt"><BR><BR><BR>March&nbsp;3, 2009
</DIV>


<DIV align="left" style="font-size: 11pt; margin-top: 12pt">Mr.&nbsp;Terence O&#146;Brien<BR>
Accounting Branch Chief<BR>
Securities and Exchange Commission<BR>
Division of Corporation Finance<BR>
One Station Place, N.E., Stop 7010<BR>
Washington, D.C. 20549-7010

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="2%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Re:</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Timken Company<BR>
Form&nbsp;10-K for the Fiscal Year ended December&nbsp;31, 2007<BR>
Filed February&nbsp;28, 2008<BR>
Form&nbsp;10-Q for the Fiscal Quarter Ended September&nbsp;30, 2008<BR>
Filed November&nbsp;7, 2008<BR>
File No.&nbsp;1-01169</DIV></TD>
</TR>
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 11pt; margin-top: 24pt">Dear Mr.&nbsp;O&#146;Brien:
</DIV>


<DIV align="LEFT" style="font-size: 11pt; margin-top: 12pt">This letter is in response to your correspondence of February&nbsp;17, 2009, regarding your review of
the filings referenced above for The Timken Company (the &#147;Company&#148;) and our previous response on
December&nbsp;22, 2008 to your prior correspondence regarding these filings. For your convenience, your
comments are repeated below in boldfaced italics, followed by the Company&#146;s response.
</DIV>

<DIV align="justify" style="font-size: 11pt; margin-top: 24pt"><U><B><I>Form&nbsp;10-K for the Fiscal Year Ended December&nbsp;31, 2007</I></B></U>
</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt"><U><B><I>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations, page
17</I></B></U>
</DIV>

<DIV style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B><I>1.</I></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>We note your response to prior comment 8, including the proposed future disclosure. We urge
you to provide a thorough analysis of the impact of recent economic events and your
considerations and potential actions in sufficient detail to enable investors to view these
circumstances through the eyes of management. For example:</I></B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="4%">&nbsp;</TD>
    <TD><B><I>The proposed future disclosure appears to be limited to a decline in the
light-vehicle market sector, the underlying reasons for this decline are not discussed,
and it is not clear whether you expect any impact to your other markets.</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 0pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="4%">&nbsp;</TD>
    <TD><B><I>Disclosure of the orders in the light-vehicle market sector from one annual period to
the next does not appear sufficient to provide an understanding of how recent economic
events have unfolded. Please analyze the underlying reasons for the multiple effects
impacting your business and provide a more specific understanding of how these trends
have developed over recent months, as well as annual periods.</I></B></TD>
</TR>

</TABLE>
</DIV>
</DIV>
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<DIV style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt">


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<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="89%">&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Page 2</DIV></TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">March&nbsp;3, 2009</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
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<BR>

<BR><BR><BR><BR><BR><BR>
<BR><BR><BR></DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" style="font-size: 9pt"><DIV style="margin-left:0px; text-indent:-0px"><B>The Timken Company</B></DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>

</DIV>
</DIV>
<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV style="position: relative; float: right; width: 70%">

<DIV style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="4%">&nbsp;</TD>
    <TD><B><I>The statement, &#147;The Company expects to see declining revenues for the next xx months
due to lower market demand,&#148; does not provide any information regarding management&#146;s
consideration of the potential scope or extent of impact from these events.</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 0pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="4%">&nbsp;</TD>
    <TD><B><I>Your discussion of the move to a four-day work week provides little detail. For
example, it does not discuss which plants or products are affected, does not quantify
the expected decrease of variable costs, or discuss any risks or drawbacks to the plan.</I></B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>These points are illustrative in nature and are not intended to be comprehensive. Please
ensure your future filings include a robust discussion of recent economic events, the current
and expected future impact on your operations, and management&#146;s response for managing these
events.</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 11pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV ALIGN="JUSTIFY">Management of the Company will continue to review the impact of recent economic events and
its considerations and potential actions in sufficient detail to enable investors to view
these circumstances through the eyes of management. Management of the Company will also
continue to review the appropriateness of providing information, such as orders in the
light-vehicle market sector, or other market sectors, from one period to the next period to
provide an understanding of how recent economic events have unfolded. Lastly, management of
the Company will continue to review the appropriateness of providing information that
describes which plants or products are affected by recent economic events.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 11pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In addition to the proposed disclosures previously provided to the Commission staff, the
Company provided the following disclosures in its most recent Form 10-K for the Fiscal Year
ended December&nbsp;31, 2008 filed February&nbsp;26, 2009:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&nbsp;</B></TD>
    <TD width="1%"><B>&nbsp;</B></TD>
    <TD><DIV ALIGN="JUSTIFY"><B>On page 20, the Company provided the following disclosure in Management&#146;s Discussion
and Analysis:</B></DIV></TD>
</TR>

<TR>
    <TD style="font-size: 11pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

<TD><DIV ALIGN="JUSTIFY"><DIV style="text-align: justify; margin-RIGHT: 8%"><U>Outlook</U><BR>
The Company&#146;s outlook for 2009 reflects a deteriorating global economic
climate that is expected to last throughout the year, impacting most of the
Company&#146;s market sectors. Lower sales, compared to 2008, are expected in all
business segments except for the Aerospace and Defense segment. A large
portion of the decrease in Steel segment sales is expected to be due to
significantly lower surcharges to recover raw material costs, which were at
historically high levels during the middle of 2008, but declined significantly
by the end of 2008. The Company&#146;s results will reflect lower margins as a
result of the lower volume and surcharges, partially offset by improved
pricing, lower raw material costs and lower selling, administrative and
general expenses. The Company expects to continue to take actions to properly
align its business with current market demand.</DIV></DIV></TD>
</TR>

<TR>
    <TD style="font-size: 11pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify; margin-RIGHT: 8%">From a liquidity standpoint, the Company expects to continue to generate cash
from operations in 2009 as working capital management improves. In addition,
the Company expects to decrease capital expenditures by approximately 25% in
2009, compared to 2008. However, pension contributions are expected to</DIV></TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Page 3</DIV></TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">March&nbsp;3, 2009</DIV></TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
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    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" style="font-size: 9pt"><DIV style="margin-left:0px; text-indent:-0px"><B>The Timken Company</B></DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>
</DIV>
</DIV>
<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV style="position: relative; float: right; width: 70%">


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%; margin-RIGHT: 4%">increase to approximately $90&nbsp;million in 2009, compared to $22&nbsp;million in 2008,
primarily due to recent negative asset returns in the Company&#146;s defined benefit
pension plans during 2008.
</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%"><B>On page 21, the Company provided the following disclosure in Management&#146;s Discussion
and Analysis:</B>
</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%; margin-RIGHT: 4%"><U>Workforce Reductions</U><BR>
In December&nbsp;2008, the Company recorded $4.2&nbsp;million in severance and related
benefit costs to eliminate approximately 110 associates as a result of the
current downturn in the economy and current and anticipated market demand. Of
the $4.2&nbsp;million charge, $2.0&nbsp;million related to the Mobile Industries segment,
$0.8&nbsp;million related to the Process Industries segment, $1.1&nbsp;million related to
the Steel segment and $0.3&nbsp;million related to Corporate.
</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%"><B>On page 25, the Company provided the following disclosure in Management&#146;s Discussion
and Analysis:</B>
</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%; margin-RIGHT: 4%">The Mobile Industries segment&#146;s sales are expected to decrease approximately 10
to 20&nbsp;percent in 2009 as demand is expected to be down across all of the Mobile
Industries&#146; market sectors, primarily driven by a 20% decline in North American
light-vehicle demand, a 30% decline in global heavy-truck demand and a 50%
decline in North American rail demand. These decreases will be partially
offset by improved pricing. In addition, adjusted EBIT for the Mobile
Industries segment is also expected to decrease as lower demand is partially
offset by improved pricing and lower selling, administrative and general
expenses. The Company expects to continue to take actions in the Mobile
Industries segment to properly align its business with market demand.
</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%"><B>The Company also provided the following disclosure on page 25:</B>
</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%; margin-RIGHT: 4%">In reaction to the current and anticipated lower demand, the Mobile Industries
segment reduced total employment levels by approximately 2,000 positions in
2008 and temporarily idled factories beyond normal seasonal shutdowns during
the fourth quarter of 2008.
</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%"><B>On page 26, the Company provided the following disclosure in Management&#146;s Discussion
and Analysis:</B>
</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%; margin-RIGHT: 4%">The Company expects lower Process Industries segment sales and adjusted EBIT
for 2009 due to significantly decreased demand across most Process Industries&#146;
market sectors. In reaction to the current and anticipated lower demand, the
Process Industries segment reduced total employment levels by approximately 400
positions in 2008. The Process Industries segment&#146;s sales are expected to
decrease approximately 10 to 15&nbsp;percent in 2009, compared to 2008, primarily
driven by a 25% decline in global gear drive markets, a 25% decline in global
metals and mining markets
</DIV>
</DIV>
<BR clear="all"><BR>

<P align="center" style="font-size: 11pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<P><DIV style="position: relative; float: left; width: 28%">
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="89%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Page 4</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" STYLE="FONT-SIZE: 6PT"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">March&nbsp;3, 2009</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>

<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR></DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" style="font-size: 9pt"><DIV style="margin-left:0px; text-indent:-0px"><B>The Timken Company</B></DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
</DIV>
</DIV>
<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV style="position: relative; float: right; width: 70%">

<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%; margin-RIGHT: 4%">and a 25% decline in global construction and infrastructure markets. The
Company expects to continue to take actions in the Process Industries segment
to properly align its business with market demand.</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%"><B>On page 28, the Company provided the following disclosure in Management&#146;s Discussion
and Analysis:</B>
</DIV>

<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%; margin-RIGHT: 4%">The Company expects the Steel segment to see 30 to 40&nbsp;percent decreases in
sales in 2009 primarily due to lower average selling prices. The average
selling prices are expected to decline in 2009 primarily driven by lower
surcharges as scrap steel and alloy costs have fallen substantially from
historically high levels in 2008. The index on which the scrap steel surcharge
mechanism is based hit a record of $870 per ton during the middle of 2008 and
decreased to $245 per ton in December. The Company also expects lower demand
across most markets, primarily driven by a 25% decline in energy markets and a
20% decline in industrial markets. The Company also expects the Steel
segment&#146;s adjusted EBIT to be significantly lower in 2009 primarily due to the
lower average selling prices, partially offset by lower raw material costs.
Scrap costs are expected to remain at current levels, as are alloy and energy
costs. In light of the current market demands, the Steel segment reduced total
employment levels by approximately 30 positions in late 2008 and early 2009.
The Company will continue to take actions in the Steel segment to properly
align its business with market demand.</DIV>


<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%"><B>Lastly, the Company provided the following disclosure in Management&#146;s Discussion and
Analysis on page 38 within the liquidity section:</B>
</DIV>

<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%; margin-RIGHT: 4%">The Company expects to continue to generate cash from operations as working
capital management improves, as well as reducing selling, administrative and
general expenses. In addition, the Company expects to decrease capital
expenditures by 25% in 2009, compared to 2008. However, pension contributions
are expected to increase to approximately $90&nbsp;million in 2009, compared to
$22.1&nbsp;million in 2008, primarily due to negative asset returns in the Company&#146;s
defined benefit pension plans during 2008.</DIV>
<DIV align="justify" style="font-size: 11pt; margin-top: 12pt; margin-left: 8%; margin-RIGHT: 4%">The Company will likely take further actions to reduce expenses and preserve
liquidity as it reacts to the current global economic and financial crisis,
including the impact on the automotive industry. The Company has reduced its
exposure to the financial condition of its automotive customers by increasing
allowances for doubtful accounts in 2008. In addition, further actions are
expected to reduce expenses to optimize the size of the Company as a result of
the economy and current and anticipated market demand. However, these actions
are not expected to have a material impact on the liquidity of the Company.</DIV>




</DIV>
<BR clear="all"><BR>

<P align="center" style="font-size: 11pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<P><DIV style="position: relative; float: left; width: 28%">
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="89%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Page 5</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" STYLE="FONT-SIZE: 6PT"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">March&nbsp;3, 2009</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR></DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" style="font-size: 9pt"><DIV style="margin-left:0px; text-indent:-0px"><B>The Timken Company</B></DIV></TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
</DIV>
</DIV>
<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV style="position: relative; float: right; width: 70%">
<DIV align="LEFT" style="font-size: 12pt; margin-top: 10pt">The Company is still reviewing what actions it will take in the future to properly align its
business with market demand. As these plans develop, management of the Company will continue to
review the appropriateness of providing this information.
</DIV>

<DIV align="LEFT" style="font-size: 12pt; margin-top: 10pt">Please do not hesitate to contact me if you have any questions regarding the foregoing and, of
course, if you have any additional comments. Questions or comments should be directed to me at
(330)&nbsp;471-6399, Glenn A. Eisenberg, Executive Vice President &#150; Finance and Administration
(Principal Financial Officer) at (330)&nbsp;471-4096 or J. Ted Mihaila, Senior Vice President and
Controller (Principal Accounting Officer) at (330)&nbsp;471-4198.
</DIV>

<DIV align="justify" style="font-size: 12pt; margin-top: 10pt">Thank you in advance for your cooperation in these matters.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 12pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<tr>
<TD style="font-size:12pt">&nbsp;</TD>
</TR>


<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Sincerely,<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 0px solid #000000" align="left"><U>/s/ James W. Griffith</U>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">James W. Griffith&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

</TABLE>
<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">cc:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Tracey McKoy</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Securities and Exchange Commission</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Glenn A. Eisenberg</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Timken Company</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">J. Ted Mihaila</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Timken Company</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lawrence F. Cruise</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Ernst &#038; Young</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<BR clear="all"><BR>


<P align="center" style="font-size: 12pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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