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Gilman USA ANNOUNCES APPOINTMENT OF ANDREW FLETCHER AS PRESIDENT



Grafton, WI, December 20, 1999

Gilman USA llc and manufacturer of precision machine tool components, is pleased to announce the appointment of Andrew Fletcher to the position of President, effective immediately. Mr. Fletcher brings over 15 years of service with SKF's Machine Tool Group to Gilman USA, as well as seven years working with another major bearing manufacturer.

Mr. Paul Haas, past president and CEO, is retiring after over 43 years in the machine tool industry, including 34 years with Kearny & Trecker and the past nine with Gilman USA. Transition planning includes Mr. Haas serving as a consultant for Gilman USA/SKF.

Mr. Fletcher recently spent the last two years in Gothenburg, Sweden where he was Global Segment Manager of Machine Tool Products. In addition to his position as president of Gilman USA, Andrew will also be SKF's Business Line Director for Spindles. Andrew's immediate plans include continuing the integration of Gilman USA and SKF's strengths in developing and marketing spindles and machine tool components. The purchase of Gilman USA in 1998 aligns with SKF's goal to develop a complete machine tool product and service offering that includes bearings and other SKF linear motion components.

Fletcher graduated from the University of New Hampshire, with a degree in Mechanical Engineering and will reside in Grafton, Wisconsin with his wife and two children.

Gilman USA, is an ISO 9001 registered global supplier of high-precision machine components, including slides, spindles, customized modular components and index tables. SKF is the world's largest bearing manufacturer with over 70 factories worldwide.


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