Abstract: An axially supporting rolling-element bearing of a rolling mill shaft includes an inner ring having a raceway, an outer ring having a raceway and a plurality of rolling elements on the raceways between the rings. An outer surface of the outer ring includes an opening such as a groove that faces radially outward and contains a seal element. The seal element includes a seal lip that extends out of the groove. When the rolling element bearing is placed in a bore of a housing, the outer ring is spaced from the bore by the seal element.