The SKF Group Half-year results, 2006

Major events - acquisitions and divestment Completed: Macrotech Polyseal Inc., a leader in fluid power seals. SNFA SAS, a leading French manufacturer of bearings for aerospace and machine tool applications. Still subject to customary due diligence and regulatory approvals: Economos, a manufacturer of hydraulic and pneumatic seals. The lubrication systems business of John Crane Safematic Oy, part of Smiths Group plc. Divestment of SKF's forging business at the Luchow factory in Germany to Johann Hay GmbH & Co KG.

Acquisition - Macrotech Polyseal Yearly sales: 33 million US dollar 397 employees 51% acquired in April 2006, full ownership latest in 2009 Price: approximately 21 million US dollar for 51% Renamed to SKF Polyseal Inc. Hydraulic seals PTFE technology Included in the second quarter reporting as part of Automotive Division

Acquisition - SNFA Sales in 2005: 82 million euro 720 employees Bearings for the Aerospace industry, high precision ball bearings for machine tool and other special applications Price: million euro (cash and debt free) Will be included in the third quarter reporting

Acquisition - Economos Sales in 2005: 77 million euro 899 employees Sealing solutions and engineering plastics solutions Subject to customary due diligence, signing of a definitive share purchase agreement and relevant regulatory approvals.

Acquisition - Safematic lubrication system business Sales in 2005: 25 million euro 127 employees John Crane Safematic Oy's lubrication systems business is part of Smiths Group plc. Price: 22.9 million euro Subject to relevant regulatory approvals and is expected to be finalized during the third quarter.

MSEK Net sales13,37312,739 Operating profit1,7021,388 Operating margin12.7%10.9% Profit before taxes1,5201,319 Net profit1, Basic earnings per share, SEK Cash flow after investments before financing Second 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 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q 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 6.5)

Growth development / local currency excluding the effect from the Ovako divestment % Y-o-Y

Cash flow, after investments before financing MSEK Cash out from acquisitions: 2005 MSEK 419 (mainly Jaeger in Q2) 2004 MSEK 644 (mainly Vogel in Q3) 2003 MSEK 89

Net cash MSEK 2003 AB SKF, dividend paid: 2003 Q2, MSEK Q2, MSEK 1, Q2, MSEK 1, Q2, MSEK 1, Q2, Pension: MSEK 3, Q2, Redemption, MSEK 2, (Short-term financial assets - loans)

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

Currency management and net currency flows USDEuro Others SEK 75% of net currency flows in USD are hedged 3-12 months. All other currency flows are not hedged. Positive effect on the operating profit 2006 vs 2005: Q1MSEK 150 Q2MSEK 120 Currency management 2006: Net currency flows 2005 excl. Ovako: CAD *Full year 2006, estimated positive effect based on current assumptions and exchange rates. 2006slightly over MSEK 200*

Financial net Interest income/expense, net Interest on post-employment benefits Other items*, net Financial net *includes e.g. share swaps, capital gains/losses and foreign exchange gains/losses. MSEK YTD June Q2 2006

July 2006: Outlook for the third quarter 2006 The market demand for SKF's products and services in the third quarter of 2006 is expected to be slightly higher compared to the second quarter The demand is expected to be higher in Europe, significantly higher in Asia and to remain on a high level in North America and Latin America. The manufacturing level for the third quarter of 2006 will be unchanged compared to the second quarter 2006, while lower in absolute terms due to normal seasonality.

Volume development Daily volume trend for: Q Q Net sales 2005 Europe 55% North America 20% Asia Pacific 17% Latin America 5% Total Outlook Q vs =

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

Guidance 2006 Underlying tax level: around 32-33% Financial net, annual level: approximately MSEK Currency effect, based on current assumptions and exchange rates, is estimated to be slightly negative for the third and for the fourth quarter of For the full year, the positive effect is estimated to be slightly over MSEK 200. Additions to property, plant and equipment: approximately in line with depreciations

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".