Personnel cuts at LMT

Personnel cuts at LMT Lidköping Machine Tools' (LMT) sales have declined during the past year as a result of the weaker climate for machine investments. The situation is expected to deteriorate even further during 1999. LMT's order bookings have declined and the future level is significantly below the company's capacity. Given this situation, LMT is currently serving notice that 80 employees will be made redundant. LMT, which has a total of slightly more than 400 employees and annual sales 1997 of approximately SEK 400 m, is part of the SKF Group. Göteborg, September 24, 1998 Aktiebolaget SKF (publ.) For further information, please contact: Lars G Malmer, SKF Group Communication, tel +46-31-3371541, lars.g.malmer@skf.com Åke Svanberg, SKF Group Communication, tel +46-31-3372005, ake.svanberg@skf.com Aktiebolaget SKF, SE-415 50 Göteborg, Sweden tel: +46-31-3371000, fax: +46-31-3372832, www.skf.com