News Release
                                                                  March 18, 2004

                     Rapidly Rising Steel Prices to Impact
                        Valmont's First Quarter Earnings



     Omaha,  NE -  Valmont  Industries,  Inc.  (NYSE:  VMI),  a  leading  global
manufacturer   of   engineered   support   structures,   coating   services  for
infrastructure,  and  mechanized  irrigation  equipment for  agriculture,  today
commented  on its outlook  for the first  quarter  ending  March 27,  2004.  The
Company  said that while sales are  expected  to be higher  than the  comparable
period of the prior fiscal year, an  unprecedented  and rapid  increase in steel
prices has reduced its  operating  margins,  particularly  in its  lighting  and
traffic,  and utility  businesses.  First quarter diluted earnings per share are
now expected to be in the range of $.19 - .21 compared  with first  quarter 2003
diluted earnings per share of $.30.

     "We expect  favorable  sales and earnings  comparisons  in our  irrigation,
tubing and  specialty  structures  businesses,"  said  Mogens C. Bay,  Valmont's
Chairman and Chief  Executive  Officer.  "Our lighting and traffic,  and utility
businesses should also show higher sales  comparisons.  However,  the speed with
which steel producers have increased prices and imposed surcharges has prevented
us from fully  recovering  these  price  increases  as we ship orders out of our
backlog in the poles businesses.  Tight steel supplies have negatively  impacted
volumes in our coatings business, as some customers struggle to obtain steel.

     "There is no precedent for the current pricing  environment.  Our suppliers
are imposing  surcharges and, in some cases, in a departure from normal industry
practices, modifying their contracts and commitments.

     "Typically  we are  able to raise  our  prices  in step  with  steel  price
increases  in an  orderly  fashion.  What  is  different  at the  moment  is the
unprecedented speed,  frequency and size of the price increases.  We expect this
environment  will not continue  long-term and we remain  positive on our outlook
for the balance of 2004 and expect gains in  profitability  for the year," added
Bay.

     The company will report first quarter 2004 earnings on April 20, 2004.

     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   statement.  The  Company  cautions  that  any  forward-looking
statement  included  in this press  release is made as of the date of this press
release  and the  Company  does not  undertake  to  update  any  forward-looking
statement.