Exhibit 99.1

For More Information:
Investor contact: Barbara Bolens 414-438-6940
Media contact: Carole Herbstreit 414-438-6882

Brady Corporation reports fiscal 2009 second quarter results

MILWAUKEE (February 20, 2009)—Brady Corporation (NYSE: BRC), a world leader in identification solutions, reports sales and earnings for its fiscal 2009 second quarter ended January 31, 2009.

     Sales for the quarter were down 26.8 percent to $266.4 million compared to $364.1 million in the second quarter of fiscal 2008. Organic sales were down 20.8 percent, acquisitions contributed 0.2 percent to sales, and currency exchange had a negative impact of 6.2 percent on sales. By segment, total sales declined 21.5 percent in the Americas, 28.9 percent in Europe, and 33.7 percent in the Asia/Pacific region.

     Net loss for the quarter was $4.2 million compared to net income of $26.7 million in the fiscal 2008 second quarter. Net loss per diluted Class A Common share was $0.08 in the quarter compared to earnings of $0.48 per share in the fiscal 2008 second quarter. 2009 results include after-tax restructuring charges of $14.0 million, or $0.27 per share.

     Sales for the six months ended January 31, 2009 declined 13.4 percent to $644.8 million compared to $744.3 million in the same period last year. Net income for the first six months of fiscal 2009 was down 47.7 percent to $33.0 million compared to $63.1 million for the same period in fiscal 2008. Six-month earnings per diluted Class A Common share were down 45.6 percent to $0.62 compared to $1.14 in fiscal 2008. Results include after-tax restructuring charges of $15.2 million or $0.28 per share for the six-month period.

     “The rapidly weakening economy and a strengthening dollar, coupled with many customers taking extended shut-downs during the various global holidays, as well as inventory reduction efforts by both our customers and our channel partners, made this a very tough quarter for us,” said Brady President and CEO Frank M. Jaehnert. “As previously announced, we implemented cost-control measures in December, including a 10 percent workforce reduction and significant reduction of discretionary spending. We further reduced costs by eliminating an additional 10 percent of our workforce through a reduction in contract labor. These early and swift actions allowed us to significantly reduce our cost structure, albeit not at the same rate as the rapid decline in sales. We are closely monitoring business conditions and are ready to take additional action if needed.”

     “We continue to aggressively manage our expenses and working capital, and our financial position remains strong. In the quarter we saw an increase in cash bringing our total cash balance to $185 million,” said Brady Chief Financial Officer Thomas J. Felmer. “Based on current economic conditions and currency exchange rates, we are reducing our net income guidance to between $65 and $75 million, from $75 to $85 million, including after-tax restructuring charges of approximately $20 million. We are reducing earnings per diluted share guidance to between $1.23 and $1.42, from $1.40 to $1.59. Excluding restructuring charges, we expect net income of between $85 and $95 million, down from $95 to $105 million; and earnings per diluted share of between $1.61 and $1.80, down from $1.78 to $1.97.”

     A webcast regarding fiscal 2009 second quarter results will be available at www.investor.bradycorp.com beginning at 9:30 a.m. Central Standard Time today.

     Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect premises, products and people. Its products help customers increase safety, security, productivity and performance and include high-performance labels and signs, safety devices, printing systems and software, and precision die-cut materials. Founded in 1914, the company has more than 500,000 customers in electronics, telecommunications, manufacturing, electrical, construction, education, medical and a variety of other industries. Brady is headquartered in Milwaukee and employs about 7,000 people at operations in the Americas, Europe and Asia/Pacific.

     More information is available on the Internet at www.bradycorp.com.

###

Brady believes that certain statements in this news release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements related to future, not past, events included in this news release, including, without limitation, statements regarding Brady’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations are forward-looking statements. When used in this news release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements by their nature address matters that are, to different degrees, uncertain and are subject to risks, assumptions and other factors, some of which are beyond Brady’s control, that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. For Brady, uncertainties arise from future financial performance of major markets Brady serves, which include, without limitation, telecommunications, manufacturing, electrical, construction, laboratory, education, governmental, public utility, computer, transportation; difficulties in making and integrating acquisitions; risks associated with newly acquired businesses; Brady’s ability to retain significant contracts and customers; future competition; Brady’s ability to develop and successfully market new products; changes in the supply of, or price for, parts and components; increased price pressure from suppliers and customers; interruptions to sources of supply; environmental, health and safety compliance costs and liabilities; Brady’s ability to realize cost savings from operating initiatives; Brady’s ability to attract and retain key talent; difficulties associated with exports; risks associated with international operations; fluctuations in currency rates versus the US dollar; technology changes; potential write-offs of Brady’s substantial intangible assets; risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products; business interruptions due to implementing business systems; and numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature contained from time to time in Brady’s U.S. Securities and Exchange Commission filings, including, but not limited to, those factors listed in the “Risk Factors” section located in Item 1A of Part II of Brady’s Annual Report on Form 10-K for the period ended July 31, 2008. These uncertainties may cause Brady’s actual future results to be materially different than those expressed in its forward-looking statements. Brady does not undertake to update its forward-looking statements.

BRADY CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME

	(Unaudited)
	Three Months Ended January 31,									Six Months Ended January 31,
							Percentage									Percentage
(Dollars in Thousands)	2009			2008			Change			2009			2008			Change
Net sales	$	266,449			364,124			-26.8	%	$	644,766			744,258			-13.4	%
Cost of products sold		140,307			189,101			-25.8	%		337,478			381,567			-11.6	%
Gross margin		126,142			175,023			-27.9	%		307,288			362,691			-15.3	%
Operating expenses:
Research and development		8,503			10,071			-15.6	%		17,559			19,050			-7.8	%
Selling, general and administrative		93,613			122,508			-23.6	%		207,870			242,859			-14.4	%
Restructuring charge		19,408			—			—			21,047			—			—
Total operating expenses		121,524			132,579			-8.3	%		246,476			261,909			-5.9	%
Operating income		4,618			42,444			-89.1	%		60,812			100,782			-39.7	%
Other income and (expense):
Investment and other (expense) income		(1,698	)		2,269			-174.8	%		154			2,387			-93.5	%
Interest expense		(6,314	)		(6,747	)		-6.4	%		(12,675	)		(13,467	)		-5.9	%
(Loss) income before income taxes		(3,394	)		37,966			-108.9	%		48,291			89,702			-46.2	%
Income taxes		756			11,276			-93.3	%		15,331			26,642			-42.5	%
Net (loss) income	$	(4,150	)		26,690			-115.5	%	$	32,960			63,060			-47.7	%
Per Class A Nonvoting Common Share:		2009			2008						2009			2008
Basic net (loss) income	$	(0.08	)	$	0.49			-116.3	%	$	0.62		$	1.16			-46.6	%
Diluted net (loss) income	$	(0.08	)	$	0.48			-116.7	%	$	0.62		$	1.14			-45.6	%
Dividends	$	0.17		$	0.15			13.3	%	$	0.34		$	0.30			13.3	%
Per Class B Voting Common Share:
Basic net (loss) income	$	(0.08	)	$	0.49			-116.3	%	$	0.61		$	1.14			-46.5	%
Diluted net (loss) income	$	(0.08	)	$	0.48			-116.7	%	$	0.60		$	1.13			-46.9	%
Dividends	$	0.17		$	0.15			13.3	%	$	0.32		$	0.28			14.3	%
Weighted average common shares outstanding (in Thousands):
Basic		52,350			54,510						52,821			54,430
Diluted		52,350			55,228						53,144			55,175

BRADY CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

	(Unaudited)
(IN THOUSANDS)	January 31, 2009			July 31, 2008
ASSETS
Current assets:
Cash and cash equivalents	$	185,091		$	258,355
Accounts receivable, less allowance for losses ($7,905 and $10,059, respectively)		191,335			262,461
Inventories:
Finished products		65,646			75,665
Work-in-process		18,499			21,187
Raw materials and supplies		37,537			37,767
Total inventories		121,682			134,619
Prepaid expenses and other current assets		43,577			43,650
Total current assets		541,685			699,085
Other assets:
Goodwill		719,431			789,107
Other intangible assets, net		118,532			144,791
Deferred income taxes		27,196			25,943
Other		15,815			21,381
Total other assets		880,974			981,222
Property, plant and equipment:
Cost:
Land		6,183			6,490
Buildings and improvements		92,579			98,646
Machinery and equipment		271,541			282,232
Construction in progress		7,248			6,040
		377,551			393,408
Less accumulated depreciation		224,455			223,202
Net property, plant and equipment		153,096			170,206
Total	$	1,575,755		$	1,850,513
LIABILITIES AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
Accounts payable	$	71,327		$	118,209
Wages and amounts withheld from employees		50,339			82,354
Taxes, other than income taxes		6,487			10,234
Accrued income taxes		1,603			21,523
Other current liabilities		46,689			54,810
Current maturities on long-term debt		21,429			21,431
Total current liabilities		197,874			308,561
Long-term obligations, less current maturities		457,143			457,143
Other liabilities		55,066			63,001
Total liabilities		710,083			828,705
Stockholders’ investment:
Common stock:
Class A nonvoting common stock — Issued 51,261,487 and 51,261,487 shares and outstanding 48,745,180 and 50,005,296 shares, respectively		513			513
Class B voting common stock — Issued and outstanding, 3,538,628 shares		35			35
Additional paid-in capital		296,342			292,769
Earnings retained in the business		654,034			639,059
Treasury stock — 2,306,307 and 1,046,191 shares, respectively of Class A nonvoting common stock, at cost		(70,917	)		(33,234	)
Accumulated other comprehensive income		(9,427	)		128,161
Other		(4,908	)		(5,495	)
Total stockholders’ investment		865,672			1,021,808
Total	$	1,575,755		$	1,850,513

BRADY CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS

	(Unaudited)
	Six Months Ended
	January 31,
(Dollars in Thousands)	2009			2008
Operating activities:
Net income	$	32,960		$	63,060
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		27,193			29,669
Non-cash portion of restructuring charges		1,916			—
Non-cash portion of stock-based compensation expense		4,244			6,382
Other		1,274			(517	)
Changes in operating assets and liabilities (net of effects of business acquisitions):
Accounts receivable		42,156			7,080
Inventories		(548	)		7,571
Prepaid expenses and other assets		(3,648	)		(7,339	)
Accounts payable and accrued liabilities		(64,413	)		(17,117	)
Income taxes		(17,428	)		(1,266	)
Other liabilities		(1,689	)		325
Net cash provided by operating activities		22,017			87,848
Investing activities:
Acquisition of businesses, net of cash acquired		—			(24,552	)
Purchase price adjustment		3,514			—
Payments of contingent consideration		(1,405	)		(5,798	)
Purchases of short-term investments		—			(10,350	)
Sales of short-term investments		—			29,550
Purchases of property, plant and equipment		(12,948	)		(14,358	)
Other		1,998			(3,259	)
Net cash used in investing activities		(8,841	)		(28,767	)
Financing activities:
Payment of dividends		(17,985	)		(16,285	)
Proceeds from issuance of common stock		1,284			7,980
Principal payments on debt		(2	)		(9	)
Purchase of treasury stock		(40,267	)		—
Proceeds from issuance of debt		—			—
Income tax benefit from the exercise of stock options and deferred compensation distribution		847			4,093
Net cash (used in) provided by financing activities		(56,123	)		(4,221	)
Effect of exchange rate changes on cash		(30,317	)		733
Net (decrease) increase in cash and cash equivalents		(73,264	)		55,593
Cash and cash equivalents, beginning of period		258,355			142,846
Cash and cash equivalents, end of period		185,091			198,439
Supplemental disclosures:
Cash paid during the period for:
Interest, net of capitalized interest	$	12,563		$	13,153
Income taxes, net of refunds		27,384			26,381
Acquisitions:
Fair value of assets acquired, net of cash	$	—		$	17,279
Liabilities assumed		—			(6,371	)
Goodwill		—			13,644
Net cash paid for acquisitions	$	—		$	24,552

Information by regional segment for the three and six months ended January 31, 2009 and 2008 is as follows:

													Corporate and
(in thousands)	Americas			Europe			Asia-Pacific			Subtotals			Eliminations			Total
SALES TO EXTERNAL CUSTOMERS
Three months ended:
January 31, 2009	$	122,970		$	87,201		$	56,278		$	266,449			—		$	266,449
January 31, 2008	$	156,621		$	122,615		$	84,888		$	364,124			—		$	364,124
Six months ended:
January 31, 2009	$	283,886		$	195,416		$	165,464		$	644,766			—		$	644,766
January 31, 2008	$	331,396		$	231,529		$	181,333		$	744,258			—		$	744,258
SALES GROWTH INFORMATION
Three months ended January 31, 2009:
Base		-19.5	%		-16.9	%		-28.9	%		-20.8	%		—			-20.8	%
Currency		-2.6	%		-12.0	%		-4.8	%		-6.2	%		—			-6.2	%
Acquisitions		0.6	%		0.0	%		0.0	%		0.2	%		—			0.2	%
Total		-21.5	%		-28.9	%		-33.7	%		-26.8	%		—			-26.8	%
Six months ended January 31, 2009:
Base		-13.5	%		-11.5	%		-7.7	%		-11.5	%		—			-11.5	%
Currency		-1.4	%		-7.1	%		-1.1	%		-3.1	%		—			-3.1	%
Acquisitions		0.6	%		3.0	%		0.0	%		1.2	%		—			1.2	%
Total		-14.3	%		-15.6	%		-8.8	%		-13.4	%		—			-13.4	%
SEGMENT PROFIT
Three months ended:
January 31, 2009	$	22,041		$	22,945		$	4,122		$	49,108			($2,607	)	$	46,501
January 31, 2008	$	32,036		$	31,067		$	12,660		$	75,763			($2,347	)	$	73,416
Percentage increase (decrease)		-31.2	%		-26.1	%		-67.4	%		-35.2	%		11.1	%		-36.7	%
Six months ended:
January 31, 2009	$	57,564		$	54,084		$	26,523		$	138,171			($4,914	)	$	133,257
January 31, 2008	$	76,142		$	60,967		$	32,050		$	169,159			($4,583	)	$	164,576
Percentage increase (decrease)		-24.4	%		-11.3	%		-17.2	%		-18.3	%		7.2	%		-19.0	%

NET (LOSS) INCOME RECONCILIATION (in thousands)

	Three months ended:						Six months ended:
	January 31,			January 31,			January 31,			January 31,
	2009			2008			2009			2008
Total profit for reportable segments	$	49,108		$	75,763		$	138,171		$	169,159
Corporate and eliminations		(2,607	)		(2,347	)		($4,914	)		(4,583	)
Unallocated amounts:
Administrative costs		(22,475	)		(30,972	)		(51,398	)		(63,794	)
Restructuring charge		(19,408	)					(21,047	)		—
Investment and other (expense) income		(1,698	)		2,269			154			2,387
Interest expense		(6,314	)		(6,747	)		(12,675	)		(13,467	)
(Loss) income before income taxes		(3,394	)		37,966			48,291			89,702
Income taxes		(756	)		(11,276	)		(15,331	)		(26,642	)
Net (loss) income	$	(4,150	)	$	26,690		$	32,960		$	63,060

RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES

	Fiscal 2008
(in thousands)	Q1		Q2		Q3		Q4		Total
EBITDA (1)
Net income	$	36,370	$	26,690					$	63,060
Interest expense		6,720		6,747						13,467
Income taxes		15,366		11,276						26,642
Depreciation and amortization		14,168		15,501						29,669
EBITDA (non-GAAP measure)	$	72,624	$	60,214	$	—	$	—	$	132,838

	Fiscal 2009
	Q1		Q2			Q3		Q4		Total
EBITDA (1)
Net income (loss)	$	37,110	$	(4,150	)					$	32,960
Interest expense		6,361		6,314							12,675
Income taxes		14,575		756							15,331
Depreciation and amortization		13,712		13,481							27,193
EBITDA (non-GAAP measure)	$	71,758	$	16,401		$	—	$	—	$	88,159

(1) Brady is presenting EBITDA because it is used by many of our investors and lenders, and is presented as a convenience to them. EBITDA represents net income before interest expense, income taxes and depreciation and amortization. EBITDA is not a calculation based on generally accepted accounting principles (GAAP). The amounts included in the EBITDA calculation, however, are derived from amounts included in the Condensed Consolidated Statements of Income data. EBITDA should not be considered as an alternative to net income or operating income as an indicator of the company’s operating performance, or as an alternative to operating cash flows as a measure of liquidity. The EBITDA measure presented may not always be comparable to similarly titled measures reported by other companies due to differences in the components of the calculation.