New Chairman and new Board members proposed for AB SKF

The SKF Nomination Committee proposes Leif Östling to be new Chairman of the Board of Directors succeeding Anders Scharp who declines re-election. Peter Grafoner and Lars Wedenborn are proposed to be appointed as new members of the SKF Board.

Anders Scharp has been the Chairman of the Board of Directors since 1992 and Leif Östling vice Chairman since 2006.

Peter Grafoner, 58, is a German citizen and has a Doctor’s degree in Engineering from the University of Dortmund. He started his business career at BBC, Brown Boveri & Cie followed by several managerial and executive positions within AEG. He was Chairman of the Management Board of Mannesmann VDO AG, 1996-2000 and Vice Chairman of the Management Board of Linde AG during 2000-2001. Mr Grafoner is a Board member of Symrise AG and Executive Vice President and shareholder of TopManagerTeam GmbH.

Lars Wedenborn, 49, CEO of FAM (Foundation Asset Management), fully owned by Wallenberg foundations, is a Swedish citizen and has a Master of Science degree in Economics from the University of Uppsala. He started his career as auditor followed by an assignment as CFO at Cabanco. During 1991-2000 he was Deputy Managing Director and CFO at Alfred Berg. He served with Investor AB as Executive Vice President and CFO 2000-2007. Mr. Wedenborn is Chairman of the Board of Novare Holding AB and also member of the Boards of OMX and The Grand Hotel.

The proposal also includes the re-election of Board members Vito H. Baumgartner, Ulla Litzén, Clas Åke Hedström, Tom Johnstone, Winnie Kin Wah Fok, Hans-Olov Olsson and Lena Treschow Torell. Eckhard Cordes has declined re-election.


The Nomination Committee, formed according to a resolution of the Annual General Meeting 2007 consists of, besides the Chairman of the Board, representatives of Foundation Asset Management Sweden AB, Skandia Liv, Alecta and Swedbank Robur, shareholders who together represent more than 40% of the votes of the total number of company shares.

Göteborg, 25 February 2008

Aktiebolaget SKF
(publ)

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AB SKF may be required to disclose the information provided herein according to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13.00 on 25 February 2008.
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For further information, please contact:
PRESS: Ingalill Östman, SKF Group Communication, tel: +46 31-337 3260, mobile:
+46 706-973260, e-mail: ingalill.ostman@skf.com
IR: Marita Björk, SKF Investor Relations, tel: +46 31-337 1994, mobile: +46 705-181994,
e-mail: marita.bjork@skf.com