Reclassification of Items in the Statements of Cash Flow(Pic)

SKF has reclassified some items in its statements of cash flows for the years 2006, 2005 and 2004 as a result of the U.S. Securities and Exchange Commission's review of the 2005 Annual report on Form 20-F. Previously reported statements of cash flow for these years have been changed, certain items are moved from financing to operating activities and to investing activities. Cash flows related to contributions to pension plans are now considered as operating activities and cash flows relating to marketable securities and other liquid assets are now considered as investing activities.




(a) Cash outflows related to contributions to pension plans are considered as operating activities. Previously, SKF had classified contributions to post-employment defined benefit plans as part of the financing activities as the decision to fund these plans was made in the context of financing SKF's overall obligations.

(b) Cash flows relating to marketable securities and other liquid assets are considered as investing activities. Further, since the original maturities of these investments are greater than three months, it is preferable to present them on a gross basis. Previously, SKF had classified these activities as part of financing activities as the investments are part of the overall financing program at SKF.

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