BADGER METER INC — Director's Dealing 2004

Feb 18, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BADGER METER INC (BMI)
CIK: 0000009092
Period of Report: 2004-02-17

Reporting Person: FORBES JAMES L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-17	Common Stock	S	200.0000	$36.5500	Disposed	79942.0000	Direct
2004-02-17	Common Stock	S	200.0000	$36.5000	Disposed	79742.0000	Direct
2004-02-17	Common Stock	S	100.0000	$36.4000	Disposed	79642.0000	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.