Reduction of personnel at Ovako Steel

GOTEBORG, Sweden, Jan. 12, 2004 (PRIMEZONE) -- The discussions between the management of Ovako Steel and the unions regarding the restructuring of the company have now been finalized. The number of employees will be reduced with 165, which represents some eight percent of the registered number of employees. The production capacity of Ovako Steel will not be affected by this change.

The cost of this restructuring is included in the provisions for the fourth quarter, announced in the nine-month report in October last year.

Goteborg, January 12, 2004

Aktiebolaget SKF (publ.)

For further information, please contact: PRESS: Lars G Malmer, SKF Group Communication, tel. +46 (0)31 337 1541, e-mail: IR: Marita Bjork, SKF Investor Relations, tel. +46 (0)31 3371994, e- mail:

Aktiebolaget SKF, SE-415 50 Goteborg, Sweden, tel. +46 (0)31 337 1000, fax +46 (0)31 337 2832,

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