The SKF Group Nine-month result 2003 Tom Johnstone President and CEO

SKF Group Key issues Q3, 2003 Solid financial performance - good operating margin - price/mix up - strong cash flow - inventories down Steps taken to support the long-term target

SKF Group Third quarter 2003 MSEK 2003 2002 Net sales 10 059 10 047 0.1% Operating profit 841 950 -11.5% Operating margin 8.4% 9.5% Profit before taxes 697 877 -20.5% Net profit 503 582 Earnings per share, SEK 4.42 5.11 -13.5% Cash flow* 982 1 368 *after investments before financing

SKF Group Nine-month result MSEK 2003 2002 Net sales 31 132 31 765 -2.0% Operating profit 2 730 2 901 -5.9% Operating margin 8.8% 9.1% Profit before taxes 2 314 2 563 -9.7% Net profit 1 634 1 747 Earnings per share, SEK 14.35 15.33 -6.4% Cash flow* 1 539 2 085 *after investments before financing

SKF Group Profit before taxes MSEK 2001 2002 2003

SKF Group Earnings per share SEK 2001 2002 2003

SKF Group Net sales MSEK 2001 2002 2003

Net sales development per quarter SKF Group Net sales development per quarter Percent y-o-y 2001 2002 2003 Q2 Q3 Q4 Q1 0.4 1.0 1.4 1.9 2.0 0.7 0.1 0.2 - 2.7 - 3.2 - 3.8 - 7.3 -0.5 3.3 3.9 6.2 3.2 4.2 1.6 2.1 1.5 1.2 1.7 0.6 - 0.4 - 1.2 - 0.7 - 4.4 2.8 6.5 7.0 8.1 5.6 11.1 8.9 6.7 2.2 -3.7 -8.3 -10.8 -9.3 -8.6 -5.5 10.7 7.7 6.0 - 2.2 -0.9 -1.8 -3.8 -1.2 -4.7 Structure Volume Price / Mix Sales in local currency Currency Net sales

Sales in local currency SKF Group Sales in local currency % change y-o-y 2001 2002 2003

SKF Group Operating margin % 2001 2002 2003

Operating margin per division SKF Group Operating margin per division % Service Industrial Electrical Automotive Aero and Steel 2001 2002 2003

Accumulated change in the number of employees SKF Group Accumulated change in the number of employees Employees acquisitions capacity adjustment and restructuring 2000 2001 2002 2003

Cash flow after investments before financing SKF Group Cash flow after investments before financing MSEK 2001 2002 2003

Inventories as % of annual sales Target 20% SKF Group Inventories as % of annual sales Target 20% % 2001 2002 2003

Additions to tangible assets SKF Group Additions to tangible assets Depreciation according to plan MSEK YTD Sept 2003 2001 2002

* Short-term financial assets - Loans SKF Group Net cash* MSEK Dividend paid: 2003 Q2, MSEK 911 2002 Q2, MSEK 683 2001 Q2, MSEK 598 2001 2002 2003 * Short-term financial assets - Loans

Target 10 % operating margin level SKF Group Target 10 % operating margin level 10 BSEK additional annual net sales To be reached within the 2005/2006 time period

Focused areas: Drive operational excellence SKF Group Drive operational excellence Grow new markets and segments Introduce new products and solutions Develop our people and competencies Focused areas:

SKF Group Volume trend External sales 2002 July 2003 Oct 2003 Europe 55% North America 26% Asia Pacific 13% Latin America 4% Total

SKF Group Volume trend External sales 2002 July 2003 Oct 2003 Industrial 23% Automotive 32% Electrical 4% Service 32% Aerospace 5%

SKF Group Outlook October 2003 The market demand for the Group's products and services is expected to slightly improve during the fourth quarter, with demand in Europe unchanged, higher in North America and significantly higher in Asia. Manufacturing will be increased in line with market demand to maintain a high service level.

SKF Group Cautionary Statement This report contains forward-looking statements that are based on the current expectations of the management of SKF. Although management believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those implied in the forward-looking statements as a result of, among other factors, changes in economic, market and competitive conditions, changes in the regulatory environment and other government actions, fluctuations in exchange rates and other factors mentioned in SKF's latest 20-F report on file with the SEC (United States Securities and Exchange Commission) under "Forward-Looking Statements" and "Risk Factors".