Brady Corporation Acquires Barcode Solutions Manufacturer Etimark GmbH.

Business Editors

MILWAUKEE and BAD NAUHEIM, Germany--(BUSINESS WIRE)--May 5, 2003

Brady Corporation (NYSE:BRC), a world leader in identification solutions and precision die-cut materials, announced that it has acquired Etimark GmbH, Bad Nauheim, Germany. Terms of the transaction were not disclosed.

Etimark, founded in 1974, is a leading provider of complete barcode solutions including labels, printers, applicators, and software for the German market. With annual sales of about $14 million (U.S.), Etimark 's label product line includes temperature- and acid-resistant labels, product appeal labels and paper labels for manufacturing, retail, logistics, information technology, healthcare and pharmaceutical markets. Etimark serves a variety of "blue chip" customers including BMW, Daimler Chrysler, Bosch, Woolworth Department Stores, Siemens and TNT Express, where its products are used to increase efficiency and accuracy in manufacturing, transportation and quality-control processes. The company currently employs about 90 people at its facility in Bad Nauheim, about 20 miles north of Frankfurt.

As one of the largest label converters in Germany, Etimark will further enhance Brady's position as a leading provider of identification solutions in Europe.

"We are very excited to welcome Etimark to Brady," said Frank M. Jaehnert, Brady president and chief executive officer. "Like Brady, Etimark emphasizes fully integrated identification solutions for its customers. In addition, it has extensive experience in meeting the needs of customers in some markets that are less traditional for Brady, such as healthcare, logistics and retail. This acquisition provides us with an even stronger base for growth in Europe, as we look to leverage Etimark's impressive capabilities in both manufacturing and marketing."

"Etimark customers will find Brady to be an excellent partner in meeting their identification needs," said Etimark founder Edwin P. Schulz. "As an industry leader, Brady has the strong global infrastructure needed to further expand Etimark's business, and we look forward to working together for mutual growth."

Brady Corporation is an international manufacturer and marketer of complete identification solutions and specialty materials, with products including labels, software, printing systems, label-application and data-collection systems, signs, safety devices and precision die-cut materials for manufacturing, electrical, electronic, telecommunications and a variety of other markets. Founded in 1914, Brady is headquartered in Milwaukee and employs more than 3,000 people in operations in the United States, Europe, Asia/Pacific, Latin America and Canada. Brady's fiscal 2002 sales were approximately $517 million. Brady Germany employs about 250 employees and has operations in Langen, Syke and Grobenzell. More information is available on the Internet at www.bradycorp.com, www.bradyeurope.com, and www.etimark.de.

This news release contains forward-looking information, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking information in this release involves risks and uncertainties, including, but not limited to, domestic and international economic conditions and growth rates; fluctuations in currency exchange rates for international currencies versus the U.S. dollar; the successful implementation of a new enterprise-resource-planning system; the ability of the company to acquire, integrate and achieve anticipated synergies from new businesses; the ability of the company to adjust its cost structure to changes in levels of sales and product mix in a timely manner; variations in the economic or political conditions in the countries in which the company does business; technology changes; and the continued availability of sources of supply. Brady cautions that forward-looking statements are not guarantees, since there are inherent difficulties in predicting future results, and that actual results could differ materially from those expressed or implied in forward-looking statements.