Exhibit 99.1

For more information:
Investor contact: Barbara Bolens 414-438-6940
Media contact: Carole Herbstreit 414-438-6882

Brady Corporation reports sales and earnings for fiscal 2009 first quarter and announces global workforce reduction

MILWAUKEE (November 20, 2008)—Brady Corporation (NYSE:BRC) reports sales and earnings for its fiscal 2009 first quarter ended October 31, 2008.

     Sales for the quarter declined 0.5 percent to $378.3 million compared to $380.1 million in the first quarter of fiscal 2008. Organic sales declined 2.5 percent in the quarter, acquisitions contributed 2.1 percent to sales growth and currency exchange had a negative 0.1 percent impact on sales growth. By segment, sales were down 7.9 percent in the Americas and 0.6 percent in Europe; sales increased 13.2 percent in Asia/Pacific.

     Net income increased 2.0 percent in the fiscal 2009 first quarter to $37.1 million compared to $36.4 million in the same quarter last year. Earnings per diluted Class A Common share were $0.69 in the first quarter of fiscal 2009, up 4.5 percent compared to $0.66 per diluted share in the prior year’s quarter. Earnings per share results reflect the repurchase of approximately 1.15 million shares in the quarter.

     “Our proactive measures to control costs helped to mitigate the effects of a deteriorating economy, and combined with other factors including a lower effective tax rate, resulted in slight net income growth in the first quarter. This was despite a decline in organic sales caused by a marked slowdown in our markets in the later part of the quarter. We expect a continuation of the challenging global economy and are taking additional steps to reduce our costs. These steps include a global workforce reduction of approximately 10 percent to be implemented in the second quarter, a company-wide salary freeze, the continued reduction of discretionary spending and contingency plans for further reductions in the event of more severe business contraction,” said Frank M. Jaehnert, Brady’s president and chief executive officer.

     “We expect restructuring charges of approximately $30 million pretax during fiscal 2009. Savings from our cost reduction actions should be approximately $30 million in fiscal 2009,” said Brady Chief Financial Officer Thomas J. Felmer. “Based on current exchange rates and as a result of these unprecedented economic conditions, we expect high single-digit declines in organic sales for the remainder of the fiscal year. We are revising our net income guidance for fiscal 2009 and now expect net income of between $75 and $85 million after restructuring charges of $20 million after tax (previously $140 to $145 million), and earnings per diluted share including restructuring charges of between $1.40 and $1.59 (previously $2.54 to $2.63).

Excluding restructuring charges, we expect net income of $95 to $105 million and earnings per diluted share of between $1.78 and $1.97.”

     “Brady is a financially strong company, with a solid balance sheet and good cash flow, and we are committed to taking all steps necessary to protect the long-term health of the company in these challenging times. To ensure our competitiveness when the current economic crisis subsides, we will continue to invest in growth strategies including new product development, acquisitions, e-business and the Brady Business Performance System, which focuses on ‘lean’ thinking and continuous improvement,” added Jaehnert.

     A web cast regarding fiscal 2009 first quarter results will be available at www.investor.bradycorp.com.

     Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect premises, products and people. Its products 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 nearly 8,000 people at operations in the Americas, Europe and Asia/Pacific. Brady’s fiscal 2008 sales were approximately $1.523 billion. 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 I of Brady’s Form 10-K for the year 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.

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BRADY CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Dollars in Thousands)

	(Unaudited)
	Three Months Ended October 31,
	2008			2007			Percentage Change
Net sales	$	378,317		$	380,134			-0.5	%
Cost of products sold		197,171			192,467			2.4	%
Gross margin		181,146			187,667			-3.5	%
Operating expenses:
Research and development		9,056			8,978			0.9	%
Selling, general and administrative		115,896			120,351			-3.7	%
Total operating expenses		124,952			129,329			-3.4	%
Operating income		56,194			58,338			-3.7	%
Other income and (expense):
Investment and other income		1,852			118			1469.5	%
Interest expense		(6,361	)		(6,720	)		-5.3	%
Income before income taxes		51,685			51,736			-0.1	%
Income taxes		14,575			15,366			-5.1	%
Net income	$	37,110		$	36,370			2.0	%
Per Class A Nonvoting Common Share:
Basic net income	$	0.70		$	0.67			4.5	%
Diluted net income	$	0.69		$	0.66			4.5	%
Dividends	$	0.17		$	0.15			13.3	%
Per Class B Voting Common Share:
Basic net income	$	0.68		$	0.65			4.6	%
Diluted net income	$	0.67		$	0.64			4.7	%
Dividends	$	0.15		$	0.13			15.4	%
Weighted average common shares outstanding (in thousands):
Basic		53,291			54,350
Diluted		53,938			55,121

BRADY CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

(IN THOUSANDS)

	(Unaudited)
	October 31, 2008			July 31, 2008
ASSETS
Current assets:
Cash and cash equivalents	$	178,792		$	258,355
Accounts receivable, less allowance for losses ($9,066 and $10,059, respectively)		243,219			262,461
Inventories:
Finished products		68,267			75,665
Work-in-process		21,586			21,187
Raw materials and supplies		40,852			37,767
Total inventories		130,705			134,619
Prepaid expenses and other current assets		46,669			43,650
Total current assets		599,385			699,085
Other assets:
Goodwill		724,072			789,107
Other intangible assets, net		124,593			144,791
Deferred income taxes		25,576			25,943
Other		17,820			21,381
Total other assets		892,061			981,222
Property, plant and equipment:
Cost:
Land		6,169			6,490
Buildings and improvements		92,509			98,646
Machinery and equipment		265,097			282,232
Construction in progress		9,453			6,040
		373,228			393,408
Less accumulated depreciation		216,891			223,202
Net property, plant and equipment		156,337			170,206
Total	$	1,647,783		$	1,850,513
LIABILITIES AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
Accounts payable	$	109,083		$	118,209
Wages and amounts withheld from employees		52,396			82,354
Taxes, other than income taxes		8,033			10,234
Accrued income taxes		13,764			21,523
Other current liabilities		49,365			54,810
Short-term borrowings and current maturities on long-term debt		21,430			21,431
Total current liabilities		254,071			308,561
Long-term obligations, less current maturities		457,143			457,143
Other liabilities		56,298			63,001
Total liabilities		767,512			828,705
Stockholders’ investment:
Common stock:
Class A Nonvoting common stock — Issued 51,261,487 and 51,261,487 shares, respectively and outstanding 48,926,466 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		294,181			292,769
Earnings retained in the business		667,108			639,059
Treasury stock — 2,125,021 and 1,046,191 shares, respectively of Class A nonvoting common stock, at cost		(67,539	)		(33,234	)
Accumulated other comprehensive income		(8,839	)		128,161
Other		(5,188	)		(5,495	)
Total stockholders’ investment		880,271			1,021,808
Total	$	1,647,783		$	1,850,513

BRADY CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in Thousands)

	(Unaudited)
	Three Months Ended
	October 31
	2008			2007
Operating activities:
Net income	$	37,110		$	36,370
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		13,712			14,168
Non-cash portion of stock-based compensation expense		2,092			3,257
Other		(198	)		46
Changes in operating assets and liabilities (net of effects of business acquisitions):
Accounts receivable		(12,571	)		(10,880	)
Inventories		(10,360	)		1,337
Prepaid expenses and other assets		(8,147	)		(4,417	)
Accounts payable and accrued liabilities		(21,679	)		(13,278	)
Income taxes		(3,513	)		6,086
Other liabilities		(1,167	)		1,201
Net cash (used in) provided by operating activities		(4,721	)		33,890
Investing activities:
Payments of contingent consideration		—			(1,200	)
Purchases of short-term investments		—			(5,150	)
Sales of short-term investments		—			7,860
Purchases of property, plant and equipment		(6,429	)		(7,395	)
Other		1,300			(1,375	)
Net cash used in investing activities		(5,129	)		(7,260	)
Financing activities:
Payment of dividends		(9,061	)		(8,100	)
Proceeds from issuance of common stock		1,162			4,134
Principal payments on debt		(1	)		(5	)
Purchase of treasury stock		(36,508	)		—
Income tax benefit from the exercise of stock options and deferred compensation distributions		667			2,712
Net cash (used in) financing activities		(43,741	)		(1,259	)
Effect of exchange rate changes on cash		(25,972	)		2,382
Net (decrease) increase in cash and cash equivalents		(79,563	)		27,753
Cash and cash equivalents, beginning of period		258,355			142,846
Cash and cash equivalents, end of period		178,792			170,599
Supplemental disclosures:
Cash paid during the period for:
Interest, net of capitalized interest	$	9,298		$	9,298
Income taxes, net of refunds		15,605			1,782

Information by regional segment for the three months ended October 31, 2008 and 2007 is as follows:

													Corporate
													and
(in thousands)	Americas			Europe			Asia-Pacific			Subtotals			Eliminations			Total
SALES TO EXTERNAL CUSTOMERS
Three months ended:
October 31, 2008	$	160,916		$	108,215		$	109,186		$	378,317			—		$	378,317
October 31, 2007		174,775			108,914			96,445			380,134			—			380,134
SALES GROWTH INFORMATION
Three months ended October 31, 2008:
Base		-8.2	%		-5.3	%		11.0	%		-2.5	%		—			-2.5	%
Currency		-0.3	%		-1.6	%		2.2	%		-0.1	%		—			-0.1	%
Acquisitions		0.6	%		6.3	%		0.0	%		2.1	%		—			2.1	%
Total		-7.9	%		-0.6	%		13.2	%		-0.5	%		—			-0.5	%
SEGMENT PROFIT (LOSS)
Three months ended:
October 31, 2008	$	35,524		$	31,138		$	22,401		$	89,063			($2,307	)	$	86,756
October 31, 2007		44,107		$	29,900		$	19,390			93,397			($2,237	)		91,160
Percentage increase (decrease)		-19.5	%		4.1	%		15.5	%		-4.6	%		3.1	%		-4.8	%

NET INCOME RECONCILIATION (in thousands)

	Three months ended:
	October 31,			October 31,
	2008			2007
Total profit for reportable segments	$	89,063		$	93,397
Corporate and eliminations		(2,307	)		(2,237	)
Unallocated amounts:
Administrative costs		(30,562	)		(32,822	)
Investment and other income		1,852			118
Interest expense		(6,361	)		(6,720	)
Income before income taxes		51,685			51,736
Income taxes		(14,575	)		(15,366	)
Net income	$	37,110		$	36,370

RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
(in thousands)

	Fiscal 2008
	Q1		Q2		Q3		Q4		Total
EBITDA (1)
Net income	$	36,370							$	36,370
Interest expense		6,720								6,720
Income taxes		15,366								15,366
Depreciation and amortization		14,168								14,168
EBITDA (non-GAAP measure)	$	72,624	$	—	$	—	$	—	$	72,624

	Fiscal 2009
	Q1		Q2		Q3		Q4		Total
EBITDA (1)
Net income	$	37,110							$	37,110
Interest expense		6,361								6,361
Income taxes		14,575								14,575
Depreciation and amortization		13,712								13,712
EBITDA (non-GAAP measure)	$	71,758	$	—	$	—	$	—	$	71,758

(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.