The SKF Group First-quarter result, 2006 Tom Johnstone, President and CEO

Major events 2006 It was announced that Rautaruukki, SKF and Wärtsilä are exploring strategic options for the ownership of Ovako. Macrotech Polyseal Inc. was acquired, a leader in fluid power seals. Yearly sales, approximately SEK 250 million. 397 employees. A memorandum of understanding was signed to buy 100% of the shares of SNFA, a leading french manufacturer of bearings for aerospace and machine tool applications. Sales in 2004, 73,1 million euros. Approximately 700 employees. SKF received an order from Alstom for approximately axleboxes equipped with compact tapered roller bearing units which incorporate SKF sensors to monitor the bearing temperature as well as speed and train positioning.

MSEK Net sales13,28911,871 Operating profit1,6091,207 Operating margin12.1%10.2% Profit before taxes1,5991,179 Net profit1, Basic earnings per share, SEK Cash flow after investments before financing First quarter 2006

Operating margin %

Operating margin excl. income from jointly controlled company OY Ovako Ab %

Operating margin per division Industrial Service Automotive %

Sales in local currencies (excl. structural changes) % change y-o-y

Net sales development per quarter Q1Q2Q3Q4Q1Q2Q3Q4Q Percent y-o-y 2004 Volume Structure Price / Mix Sales in local currency Currency Net sales

Growth development / local currency 6% annual growth rate (whereof 4% organic) % Y-o-Y Acquisitions / Divestments Organic growth (Organic 8.9, Net acq/div -4,9)

Cash flow, after investments before financing MSEK

Net cash MSEK 2003 Dividend paid: 2003 Q2, MSEK Q2, MSEK Q2, MSEK Proposal: 2006 Q2, MSEK Q2, Pension: MSEK Q2, Redemption, MSEK (Short-term financial assets - loans)

Inventories as % of annual sales % Target, end % 2006

April 2006: Outlook for the second quarter 2006 The market demand for SKF's products and services in the second quarter of 2006 is expected to be slightly higher compared to the first quarter The demand is expected to be slightly higher in Europe and North America, significantly higher in Asia and to remain on a high level in Latin America. The manufacturing level for the second quarter of 2006 will be unchanged compared to the first quarter 2006.

Volume development Daily volume trend for: Q Q Net sales 2005 Europe55% North America20% Asia Pacific17% Latin America5% Total Outlook Q vs 2005 =/

SKF Group targets 10% Operating margin level 6% Growth per annum 20% ROCE 18% Inventory / sales

Guidance 2006 Underlying tax level: around 32% Financial net, annual level: approximately MSEK 200 Currency, based on current assumptions and exchange rates: a positive MSEK 150 for Q2, 2006 and a positive MSEK 450 for the year Additions to property, plant and equipment: in line with depreciations

Acquisition - Macrotech Polyseal Inc. Rod seals Piston seals Buffer seals for large rod applications Piston seals for rotary manifold Rod wipers for linear actuators Macrotech is a leader in fluid power seals for industrial customers in the US market SKF acquired 51% of the shares in April and will, as part of the agreement acquire the remaining 49% within three years Yearly sales: approximately USD 33 million Factories in Salt Lake City, USA 397 employees

The new Pendolino train from Alstom 1,500 axleboxes equipped with compact tapered roller bearing units and SKF sensors to monitor temperature, speed and train positioning. The new Pendolino generation is the fourth generation of trains based on tilting technology, which are equipped with SKF bearing solutions.

SKF electromechanical solution NIMAK, a German spot welding equipment manufacturer, will be using the SKF electromechanical solution in their welding guns.

Spindle service, some recent events SKF signed a cooperation agreement covering machine tool spindle services with the Japanese company Niigata Machine Techno Co Ltd.. This means that SKF will provide spindle services for Niigata Machine Techno's customers. SKF signed a global service agreement with Alteams Oy in Finland for the reconditioning of machine tool spindles used in their production locations in Finland, Sweden, China, and Russia.

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".