Badger Meter declares stock split and regular quarterly dividend.

MILWAUKEE--(BUSINESS WIRE)--Feb. 14, 1997--The Badger Meter, Inc. (AMEX:BMI) Board of Directors today declared a 2-for-1 stock split in the form of a 100% stock dividend on the company's Common Stock and Class B Common Stock. The stock dividend is payable on April 18, 1997 to shareholders of record at the close of business on March 27, 1997.

According to James L. Forbes, President and Chief Executive Officer, "The price of Badger Meter's stock has increased significantly over the past few years in response to the improved financial performance of the company. Our long-term strategy of investing in new technologies, marketing and capital improvements has resulted in increased earnings for five straight years. In 1996, our earnings increased 37.9 percent and the price per share of our stock increased 44 percent to $38.375 at December 31. Therefore, we believe it is appropriate to split our stock at this time, increasing our shares outstanding and at the same time rewarding our current shareholders."

As of December 31, 1996, Badger Meter, Inc. had 1,213,188 Common Stock shares and 562,785 Class B Common Stock shares outstanding. The Class B Common Stock is not publicly traded. Brokers and other nominee holders have five business days from the record date to advise the company's transfer agent, Firstar Trust Company, Milwaukee, Wisconsin, of their requirements for shares.

The directors also declared a regular quarterly dividend of 22 cents per share to shareholders of Common Stock, and 20 cents per share to shareholders of Class B Common Stock, of record February 28, 1997, payable March 14, 1997. These are the same amounts voted in the previous quarter.

Badger Meter is a leading marketer and manufacturer of products using flow measurement and control technology serving industrial and utility markets worldwide. -0-

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CONTACT: Badger Meter, Inc., Milwaukee

Richard A. Meeusen, 414/355-0400