REGAL REXNORD CORP — Director's Dealing 2006

May 4, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: REGAL BELOIT CORP (RBC)
CIK: 0000082811
Period of Report: 2006-05-03

Reporting Person: MCKAY JOHN A (Director Emeritus)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-05-03	Common Stock	M	20000	$20.3	Acquired	28838	Direct
2006-05-03	Common Stock	M	15000	$20	Acquired	43838	Direct
2006-05-03	Common Stock	S	35000	$47.9856	Disposed	8838	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-05-03	Non qualified stock option	$20.3	M	20000	Acquired	2006-07-22	Common Stock (20000)	Direct
2006-05-03	non-qualified stock option	$20	M	15000	Acquired	2006-07-22	Common Stock (15000)	Direct

Footnotes

F1: John A. McKay retired from the Board of Directors of the Company on 4/22/06, thus accelerating the vesting of this option grant. Due to his retirement, Mr. McKay will no longer be a Form 4 filer.

F2: Option vested over five years. Following his retirement from the Board of Directors, Mr. McKay had 90 days to exercise the option.