BADGER METER INC — Director's Dealing 2004

Sep 28, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2004-09-27

Reporting Person: FORBES JAMES L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-09-27	Common Stock	S	850	$44.25	Disposed	71592	Direct
2004-09-27	Common Stock	S	200	$44.10	Disposed	71392	Direct
2004-09-27	Common Stock	S	200	$44.05	Disposed	71192	Direct

Footnotes

F1: Shares sold pursuant to a 10b-5 Plan. Under the Plan, Mr. Forbes has agreed to sell 1,250 shares per month over a two-year period.