REGAL REXNORD CORP — Director's Dealing 2004

Apr 26, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: REGAL BELOIT CORP (RBC)
CIK: 0000082811
Period of Report: 2004-04-22

Reporting Person: KNUEPPEL HENRY W (Director, President & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-04-22	Common Stock	A	1334	$20.3	Acquired	154804	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-04-22	Restricted Stock	$20.3	A	2666	Acquired	2006-04-22	Common Stock (2666)	Direct
2004-04-22	non-qualified stock option	$20.3	A	36000	Acquired	2014-04-22	non qualified stock option (36000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	83821	Indirect
Common Stock	222104	Indirect
Common Stock	1850	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
non qualified stock option	$28.675	2008-01-23	non qualified stock option (20000)	20000	Direct
non qualified stock option	$23.25	2009-01-22	non qualified stock option (200000)	200000	Direct
non qualified stock option	$16.38	2013-04-22	non qualified stock option (50000)	50000	Direct

Footnotes

F1: Restricted stock awarded on 4/22/04

F2: 1333 shares of restricted stock become avaiable each on 4/22/05 and 4/22/06

F3: 18,000 shares become available each on 4/22/05 and 4/22/06

F4: Option becomes exercisable in 10 equal annual installments

F5: 20,000 shares become exercisable each on 04/22/04 and 04/22/05