Valmont Updates Earnings Outlook

     Omaha,  NE - Valmont  Industries,  Inc.  (NYSE:  VMI),  the leading  global
manufacturer   of  poles,   towers,   structures   and  coating   services   for
infrastructure,  and mechanized irrigation equipment for agriculture,  announced
today that it expects 2003 second  quarter  diluted  earnings per share to be in
the range of 26-29 cents.  In 2002,  second  quarter  earnings  were a record 42
cents per diluted share. In its first quarter earnings announcement, the Company
indicated  that  second  quarter  sales  and  earnings   comparisons   would  be
unfavorable, but did not provide further guidance. Valmont also said today, that
based upon  current  conditions,  full year 2003  earnings  are  expected  to be
slightly lower than 2002 earnings.

     "For the second quarter, our lighting and traffic businesses remain strong.
Our  irrigation  and tubing  businesses  are above  last  year's  levels,  while
coatings sales will be lower. In the wireless communication markets,  conditions
remain  weak,"  said  Mogens  C. Bay,  Valmont's  Chairman  and Chief  Executive
Officer.  "However, in our utility business,  sales are more than 50% below last
year's second quarter. The lower utility sales,  combined with pricing pressures
will result in less manufacturing cost absorption and lower profitability."

     Valmont's second quarter ends on June 29, 2003. The Company will report its
financial results for the second quarter on July 21, 2003.

     Valmont is the global leader in designing and manufacturing  poles,  towers
and  structures  for lighting and traffic,  wireless  communication  and utility
markets,  and a provider of protective coating services.  Valmont also leads the
world  in  mechanized  irrigation  equipment  for  agriculture,  enhancing  food
production while conserving and protecting natural water resources. In addition,
Valmont  produces  a wide  variety  of  tubing  for  commercial  and  industrial
applications.

     This release contains forward-looking statements, within the meaning of the
Private Securities  Litigation Reform Act of 1995. These statements are based on
management's  current  views and estimates  and are subject to  uncertainty  and
changes in  circumstances.  Future economic and market  circumstances,  industry
conditions,  Company performance and financial results,  operating efficiencies,
availability and price of raw materials,  availability and market  acceptance of
new  products,   product  pricing,   domestic  and   international   competitive
environment,   actions  and  policy   changes  of  domestic  and   international
governments and other risks described from time to time in Valmont's  reports to
the  Securities and Exchange  Commission are examples of factors,  among others,
that could  cause  results to differ  materially  from  those  described  in the
forward-looking statements. The Company is under no obligation to (and expressly
disclaims  such  obligation to) update or alter its  forward-looking  statements
whether as a result of new information, future events or otherwise.