SKF inaugurates latest bearing factory in China

SKF, the world's largest bearing company, formally opened its latest
factory in Shanghai, China, on November 7th, 2003.

SKF Shanghai Bearings Co. Limited is a joint venture in which SKF has
the majority shareholding (60%) and management responsibility. The
company was established in 2002 between SKF and Shanghai Bearing
Corporation (SBC).

The new factory is located in the Pudong Development Zone and
manufactures deep groove ball bearings. Three of six production channels
have already been installed and contain the very latest manufacturing
technology. They began volume production during 2003 after pre-
production samples were rigorously inspected and tested by SKF at its
facilities in Europe.

The factory will produce deep groove ball bearings of different sizes
with a wide variety of final variants to meet customer needs and
applications. These bearings can be used in a wide variety of
applications including household and electric motors.

- This investment is another testimony of SKF's commitment to China. We
have been growing fast in recent years and we intend to continue to
strengthen our position in this challenging and fast growing market,
said Tom Johnstone, CEO and President of AB SKF, at the official
inauguration of the new Shanghai factory.

For a possible second phase of investment the factory has sufficient
floor space for a doubling of the capacity.

This is SKF's fifth joint venture in China and its second with SBC, the
first being SKF Automotive Bearings Co. Limited, which was set up in
1995.

Goteborg, November 7, 2003
Aktiebolaget SKF
(publ.)

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

Pictures available at:
http://www.newsonline.nu/imgway/index.asp?pmid=31468

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