BADGER METER INC — Director's Dealing 2003

Dec 11, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2003-12-09

Reporting Person: ZANDRON DANIEL D (VP-Business Development)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-09	Common Stock	I	2488.0000	$39.4000	Disposed	2223.0000	Indirect

Footnotes

F1: In addition to the shares held in Mr. Zandron's ESSOP Account, Mr. Zandron owns 10,105 shares directly and 3,500 shares in the Badger Meter Officers' Voting Trust.

F2: Represents shares of Badger Meter, Inc. Common Stock allocated pursuant to the following Badger Meter Employee Benefit Stock Plans: a) Badger Meter Payroll-based Employee Stock Ownership Plan (PAYSOP), and/or, b) Badger Meter Employee Stock Ownership Plan (ESOP), and/or, c) Badger Meter Savings Plan (a 410(k) Plan).