EXHIBIT 14

                            LINDSAY MANUFACTURING CO.

                             Code of Ethical Conduct

           (Principal Executive Officer and Senior Financial Officers)

This Code of Ethical Conduct ("Code") sets forth principles which the principal
executive officer and senior financial officers are expected to adhere to and
advocate. The Code embodies rules regarding individual and peer
responsibilities, as well as responsibilities to Lindsay Manufacturing Co. (the
"Company"), and its shareholders. In addition to this Code, the principal
executive officer and senior financial officers are expected to adhere to the
policies and principles contained in the Company's Code of Business Conduct and
Ethics, which is applicable to all directors, officers and employees of the
Company.

IN MY ROLE AS THE PRINCIPAL EXECUTIVE OFFICER, PRINCIPAL FINANCIAL OFFICER,
PRINCIPAL ACCOUNTING OFFICER OR CONTROLLER OF THE COMPANY, I RECOGNIZE THAT
PERSONS IN THESE POSITIONS PLAY A CRITICAL ROLE IN CORPORATE GOVERNANCE, AND I
AM COMMITTED TO ENSURING THAT SHAREHOLDERS' AND OTHER STAKEHOLDERS' INTERESTS
ARE APPROPRIATELY BALANCED, PROTECTED AND PRESERVED.

I certify that I will adhere to and advocate the following principles and
responsibilities governing my professional and ethical conduct. I understand and
agree that failure to adhere to this Code constitutes grounds for discipline,
termination of employment, and any other remedies available under the law.

To the best of my knowledge and ability:

1.       I will act with honesty and integrity, avoiding actual or apparent
conflicts of interest in personal and professional relationships. When conflicts
of interest do arise, I will disclose such conflicts to either the Chairman of
the Audit Committee or the Chairman of the Board of Directors of the Company. In
addition, I will disclose to either the Chairman of the Audit Committee or the
Chairman of the Board of Directors any material transactions or relationships
that reasonably can be expected to give rise to such a conflict. I understand
that a conflict of interest can arise any time a member of my family or I have
any interest in any business, property or transaction, or have any right or
obligation from or to any person, which might affect the fulfillment of my job
responsibilities to the Company.

2.       I will provide my constituents with information that is accurate,
complete, objective, relevant, timely and understandable. In particular, I will
do my best to ensure that reports and documents filed with or submitted to the
Securities and Exchange Commission and New York Stock Exchange, or otherwise
publicly communicated by the Company, contain full, fair, accurate, timely, and
understandable disclosure. If I become aware that any information contained in
such reports or publicly communicated by the Company is materially false or
misleading or omits material information, I will promptly disclose this fact to
either the Chairman of the Audit Committee or the Chairman of the Board of
Directors in accordance with the Company's procedures for the receipt, retention
and treatment of complaints and concerns regarding accounting, internal control
or auditing matters. I understand that reports to the Audit Committee may be
made on an anonymous basis.

3.       I will comply with all applicable laws, rules, and regulations of the
federal, state, foreign, provincial and local governments, and other appropriate
private and public regulatory agencies.

4.       If I become aware of a violation of the law or of this Code, I will
promptly report the violation to either the Chairman of the Audit Committee or
the Chairman of the Board of Directors.

5.       I understand that I will be held accountable for my adherence to this
Code and that failure to observe the terms of this Code may result in
disciplinary action, up to and including termination of employment.



6.       As the principal executive officer or a senior financial officer of the
Company, I acknowledge that any waiver of the provisions of this Code may only
be made by the Board of Directors or by a Board Committee and that any such
waiver will require immediate public disclosure.

                    
Date:________________  Richard W. Parod, President and Chief Executive Officer

Date:________________  Bruce C. Karsk, Executive Vice President and Chief Financial Officer

Date:________________  Thomas Costanza, Corporate Controller