BADGER METER INC — Director's Dealing 2004

Apr 27, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2004-04-26

Reporting Person: PAYNE ULICE JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-04-26	Common Stock	J	300.0000	$43.0000	Acquired	1900.0000	Direct

Footnotes

F1: Shares granted annually to directors pursuant to the 2002 Director Stock Grant Plan approved by shareholders.