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News Release                                                   October 19, 2004

                Valmont's Third Quarter Net Earnings Increase 74%
                            On 30% Increase in Sales
Highlights:

     o    Net sales rose 30%,  primarily  due to product  pricing  reflective of
          higher steel costs, the acquisition of Newmark,  and higher volumes in
          the Tubing and Engineered Support Structures Segments.

     o    Operating  income  increased  61%,  mainly due to the  acquisition  of
          Newmark, strong tubing performance,  and an improvement in the utility
          market.

     o    Engineered Support Structures operating income increased 48%.

     o    Irrigation  sales  increased  due to higher  pricing  related to steel
          costs.  Profitability  was  slightly  lower due to reduced  volumes in
          North America.

     o    Net earnings rose 74%.

     o    Working capital increased to support current business  conditions;  in
          particular,  inventory  rose due to higher  steel costs and  increased
          quantities to compensate for steel market conditions.

     Omaha,  NE -  Valmont  Industries,  Inc.  (NYSE:  VMI),  a  leading  global
manufacturer of engineered  support structures for infrastructure and mechanized
irrigation  equipment  for  agriculture  and a provider of coating  services and
tubular  products,  reported  sales for the  third  quarter  of  $262.9  million
compared with $202.5 million for the same period of 2003. Third quarter 2004 net
earnings were $7.1 million,  or 29 cents per diluted share, versus third quarter
2003 net earnings of $4.1 million, or 17 cents per diluted share.

     For the first nine months of 2004,  sales were $744.8 million versus $610.5
million in 2003.  Valmont's  nine-month  earnings,  which include a $6.1 million
after-tax  charge  taken during the second  quarter to prepay  debt,  were $15.4
million,  or 63 cents per diluted share,  compared with 2003 nine-month earnings
of $17.8 million, or 73 cents per diluted share.



<PAGE>


Third Quarter 2004 Review:

     "Three  main  factors  led to  strong  profitability  gains  in  the  third
quarter," said Mogens C. Bay,  Valmont's  Chairman and Chief Executive  Officer.
"First, in our Engineered Support Structures Segment,  our steel utility product
line saw a strong  increase in sales and an  improvement  in pricing and margins
from a weak 2003.  While our  utility  sales and  margins  were better than last
year, we believe that further improvements are achievable.  Second, the addition
of Newmark's sales and profits contributed to our results.  The Concrete Support
Structures Segment had record third quarter sales. Third, our Tubing Segment had
impressive  results.  Sales were sharply higher and the increased volumes led to
excellent factory performance and record quarterly profitability.

     "Results in our other businesses were mixed.  While our Irrigation  Segment
had good gains in international  sales,  overall  profitability was lower due to
margin  pressures  worldwide.  In our  Engineered  Support  Structures  Segment,
lighting and traffic products had strong sales gains, due to volume improvements
and price increases driven by steel costs. Margins came under pressure as it was
difficult to fully pass on all of the increased  costs. The Coatings Segment was
weaker due to reduced  demand for  anodizing  and higher  workers'  compensation
costs in California.

     "Steel prices appear to be stabilizing.  Our current  inventory  levels are
relatively  high since lead times are longer than usual and steel suppliers have
been reluctant to commit to long-term pricing arrangements.  Presently,  we have
sufficient  steel on hand and plan to reduce our inventory  levels over the next
90-120 days.  The higher  steel prices have also had an impact on our  inventory
valuation. As most of Valmont's North American operations use the LIFO (Last-In,
First-Out) method of inventory valuation, the record high levels in steel prices
during 2004 have required an increase in the LIFO reserve of  approximately  $20
million for the first three quarters."

Third Quarter Summary-Agricultural Markets:

     In the  Irrigation  Segment,  the third quarter is seasonally  the weakest.
Sales were $62.6  million,  a 6% increase  over 2003.  Operating  income for the
segment  declined  5% to $4.5  million.  The  higher  sales  were  due to  price
increases  instituted to recover higher steel costs. The Company continued to be
disciplined  in passing on steel cost  increases  to the market,  resulting in a
modest decline in volume and profitability.

     In the Tubing Segment, sales were 65% higher at $22.0 million.  Valmont was
able to improve its market position by maintaining  adequate  supplies of steel,
which attracted customers looking for stable sources of supply. Operating income
of $4.2 million  more than doubled from last year due to the higher  volumes and
improvements in manufacturing efficiencies.


<PAGE>


Third Quarter Summary - Infrastructure Markets:

     Sales in the Engineered Support Structures Segment were $135.5 million,  an
increase  of 27% from 2003  levels.  Operating  income for the  segment was $7.8
million, a 48% increase from last year's levels.

     Sales of lighting  and traffic  products  were higher in North  America and
Europe.  While some of the gains were due to higher  selling  prices,  there was
strong demand from our  commercial  customers for  structures  for parking lots,
sports  stadiums and other specialty  outdoor  lighting  applications.  Sales of
structures to transportation customers also improved.  During the third quarter,
state and federal highway programs were funded by extensions to existing highway
legislation. The lack of a new long-term highway bill continued to cause concern
in the market, yet did not impact results in the third quarter.

     Sales of  wireless  communication,  sign  and  other  specialty  structures
increased. In North America, wireless communication poles, towers and components
sales  increased  due to higher  spending by carriers on network  expansion.  In
China, sales of wireless communication products were lower, as service providers
worked on putting into service the heavy  volume of product  shipped  earlier in
the year.  Valmont's sign structure sales were higher due to expanded geographic
coverage and the acquisition of Sigma  Industries,  a sign structure  company in
Delaware with annual revenues of $13 million. This acquisition allows Valmont to
expand its expertise and broaden its regional  distribution  capabilities in the
market.

     Valmont's steel utility product line showed  significant  sales growth from
increased pricing and volume in North America.  Over the past six months,  there
has been a noticeable  increase in demand from utilities  seeking to improve the
reliability of their  infrastructure.  In China,  activity earlier this year was
very strong;  however utility sales in the quarter were modestly  lower,  likely
reflecting  the  efforts  of the  Chinese  government  to  temporarily  cool the
economy.

     Profitability for the Engineered Support Structures Segment rose mostly due
to volume  increases  across all product  lines and improved  margins in utility
products.

     The Concrete  Support  Structures  Segment had record third quarter  sales.
Demand  for  concrete  utility  structures  is also  benefiting  from  increased
spending  by  utilities  on capital  and  maintenance  projects  to improve  the
reliability of the electrical grid system.  After enduring four major hurricanes
over a six week  period this summer in  Florida,  Valmont's  steel and  concrete
utility structures clearly  demonstrated the excellent  reliability that utility
customers  are counting on. As a result of the storms,  Valmont's  manufacturing
facilities  and  personnel  have been  active  in the  efforts  to help  restore
services to hurricane damaged regions.


<PAGE>


     Sales in the  Coatings  Segment  were 12%  lower  than  last  year at $22.5
million. Operating income declined 21% to $1.5 million.  Galvanizing performance
improved as a result of sales gains from growing  industrial  demand, and higher
internal volumes. The volume increases allowed for more efficient operations and
better absorption of fixed costs. However,  lower anodizing volumes and a change
in mix caused  profitability  declines for the segment.  The Company has reduced
costs at its anodizing  facilities to adjust for the lower sales.  Profitability
was also  impacted by  increasing  workers'  compensation  costs in  California.
Recent  reforms  in the  workers'  compensation  program  in that  state  should
moderate these issues going forward.

Fourth Quarter Outlook:

     Commenting on the outlook for the fourth quarter, Mr. Bay said, "We believe
the fourth quarter will show positive sales and earnings  comparisons,  although
not to the degree of the third  quarter  improvement.  Steel prices appear to be
stabilizing. Capital spending in the utility markets is improving. Tubing demand
is robust. While farm income remains strong,  weakening crop prices, high energy
costs,  and  significant  price  increases lead us to have some concern over the
short-term outlook.  The strong positive trends in most of our businesses should
outweigh any decline in  irrigation.  We are  expecting  positive  trends in our
performance to continue into 2005."

     An audio discussion of Valmont's third quarter results by Valmont officers,
Mogens C. Bay,  Chairman  and Chief  Executive  Officer,  and Terry J.  McClain,
Senior Vice President and Chief  Financial  Officer,  will be available live via
the  Internet  at 8:00 a.m.  October 20,  2004 CDT,  by  pointing  browsers  to:
http://www.valmont.com/asp/investor_relations/ir6.asp.  After  the event you may
listen by  accessing  the above link or by  telephone.  Dial  1-800-642-1687  or
706-645-9291,  and enter the Conference ID#: 7041022  beginning October 20, 2004
at 10:00 a.m. CDT through 12:00 p.m. CDT on October 27, 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.


<PAGE>


     This release contains forward-looking statements, within the meaning of the
Private  Securities   Litigation  Reform  Act  of  1995.  These  forward-looking
statements  are  based  on  assumptions  that  management  has  made in light of
experience in the industries in which Valmont operates,  as well as management's
perceptions  of  historical   trends,   current   conditions,   expected  future
developments   and  other  factors   believed  to  be   appropriate   under  the
circumstances. As you read and consider this release, you should understand that
these  statements are not  guarantees of  performance  or results.  They involve
risks,   uncertainties   (some  of  which  are  beyond  Valmont's  control)  and
assumptions.  Although management believes that these forward-looking statements
are based on reasonable assumptions, you should be aware that many factors could
affect Valmont's actual  financial  results and cause them to differ  materially
from those anticipated in the forward-looking statements.  These factors include
among  other  things,  risk  factors  described  from time to time in  Valmont's
reports to the Securities and Exchange  Commission,  as well as future  economic
and market circumstances, industry conditions, company performance and financial
results,  operating  efficiencies,  availability  and  price  of  raw  material,
availability and market  acceptance of new products,  product pricing,  domestic
and international  competitive  environments,  and actions and policy changes of
domestic and foreign governments.  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.

<TABLE>
                    VALMONT INDUSTRIES, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                (Dollars in thousands, except per share amounts)
                                   (unaudited)

                                                                Third Quarter                   Year-to-Date
                                                                13 Weeks Ended                 39 Weeks Ended

                                                          -----------------------------------------------------
                                                           25-Sep-04     27-Sep-03     25-Sep-04    27-Sep-03
                                                          ---------------------------------------- ------------
         <S>                                                <C>            <C>          <C>          <C>
          Net sales                                         $ 262,890      $ 202,498    $ 744,800    $ 610,458
          Cost of sales                                       201,790        154,692      566,340      458,311
                    Gross profit                               61,100         47,806      178,460      152,147
          Selling, general and administrative expenses         45,268         37,949      131,870      113,508
                    Operating income                           15,832          9,857       46,590       38,639
          Other income (deductions)
               Interest expense                                (4,639)        (2,692)     (11,104)      (8,008)
               Interest income                                    687            234        1,382          785
               Debt prepayment expense                              -              -       (9,860)           -
               Miscellaneous                                      (23)           51          (283)        (104)
                                                               (3,975)        (2,407)     (19,865)      (7,327)
                 Earnings before income taxes, minority
                   interest, equity in earnings (losses) of
                 non-consolidated subsidiaries                 11,857          7,450       26,725       31,312
          Income tax expense                                    4,307          2,729        9,763       11,491
                 Earnings before minority interest, equity in
                   earnings (losses) of nonconsolidated
                   subsidiaries and change in accounting
                   principle                                    7,550          4,721       16,962       19,821
          Minority interest (after tax)                          (668)          (637)      (1,841)      (1,625)
          Earnings (losses) in nonconsolidated subsidiaries       222              9          296         (443)
                    Net earnings                              $ 7,104        $ 4,093     $ 15,417     $ 17,753

          Average shares outstanding (000's) - Basic           23,887         23,774       23,866       23,813
          Earnings per share - Basic                           $ 0.30         $ 0.17       $ 0.65       $ 0.75

          Average shares outstanding (000's) - Diluted         24,464         24,285       24,465       24,345
          Earnings per share - Diluted                         $ 0.29         $ 0.17       $ 0.63       $ 0.73

          Cash dividends per share                            $ 0.080        $ 0.080      $ 0.240      $ 0.235
</TABLE>

                    VALMONT INDUSTRIES, INC. AND SUBSIDIARIES
                            SUMMARY OPERATING RESULTS
                             (Dollars in thousands)
                                   (unaudited)
<TABLE>
                                                                Third Quarter               Year-to-Date
                                                                13 Weeks Ended             39 Weeks Ended

                                                          --------------------------- ------------ ------------
                                                           25-Sep-04     27-Sep-03     25-Sep-04    27-Sep-03
                                                          --------------------------- ------------ ------------
          <S>                                               <C>            <C>          <C>          <C>

          Net sales
               Engineered Support Structures                $ 135,457      $ 106,746    $ 354,971    $ 292,035
               Concrete Support Structures                     24,921              -       41,496            -
               Coatings                                        22,486         25,641       68,710       76,359
                  Infrastructure products                     182,864        132,387      465,177      368,394

               Irrigation                                      62,593         59,260      230,274      206,173
               Tubing                                          21,990         13,343       63,409       43,819
                  Agriculture products                         84,583         72,603      293,683      249,992

               Other                                            4,117          4,044       12,980       13,121
               Less: Intersegment sales                        (8,674)        (6,536)     (27,040)     (21,049)
                    Total                                   $ 262,890      $ 202,498    $ 744,800    $ 610,458

          Operating Income
               Engineered Support Structures                  $ 7,784        $ 5,266     $ 15,192     $ 14,011
               Concrete Support Structures                      3,212              -        4,967            -
               Coatings                                         1,471          1,866        4,538        5,434
                  Infrastructure products                      12,467          7,132       24,697       19,445

               Irrigation                                       4,533          4,794       28,386       25,574
               Tubing                                           4,152          1,588        9,658        5,056
                  Agriculture products                          8,685          6,382       38,044       30,630

               Other                                           (1,247)          (906)      (2,332)      (1,780)
               Corporate                                       (4,073)        (2,751)     (13,819)      (9,656)
                    Total                                    $ 15,832        $ 9,857     $ 46,590     $ 38,639
</TABLE>
Valmont has five reportable segments organized on a worldwide product basis.

     Engineered Support Structures:  This segment consists of the manufacture of
     engineered  metal  structures  and  components  for the lighting,  traffic,
     utility and wireless communication industries.

     Concrete  Support  Structures:  This segment consists of the manufacture of
     engineered concrete structures primarily for the utility industry.

     Coatings:  This  segment  consists  of  galvanizing,  anodizing  and powder
     coating services.

     Irrigation:  This  segment  consists  of the  manufacture  of  agricultural
     irrigation equipment and related parts and services.

     Tubing: This segment consists of the manufacture of tubular products.

In addition to these five reportable segments, Valmont also has other businesses
that  individually  are not  more  than 10% of  consolidated  net  sales.  These
businesses, which include wind energy development,  machine tool accessories and
industrial fasteners, are reported in the "Other" category.


                    VALMONT INDUSTRIES, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                             (Dollars in thousands)
                                   (unaudited)
<TABLE>
                                                                         25-Sep-04                  27-Sep-03
                                                                       --------------              ------------
          <S>                                                            <C>                          <C>
          ASSETS
          Current assets:
               Cash and cash equivalents                                 $ 30,557                     $ 26,734
               Accounts receivable, net                                   189,337                      150,034
               Inventories                                                197,803                      113,103
               Prepaid expenses                                             9,556                        9,979
               Refundable and deferred income taxes                         8,842                       10,427
                    Total current assets                                  436,095                      310,277
          Property, plant and equipment, net                              209,072                      184,304
          Goodwill and other assets                                       181,184                       92,670
                                                                        $ 826,351                    $ 587,251

          LIABILITIES AND SHAREHOLDERS' EQUITY
          Current liabilities:
               Current installments of long-term debt                     $ 1,251                     $ 14,626
               Notes payable to banks                                      17,078                       23,890
               Accounts payable                                            84,317                       58,309
               Accrued expenses                                            71,052                       53,782
               Dividend payable                                             1,913                        1,916
                    Total current liabilities                             175,611                      152,523
          Long-term debt, excluding current installments                  324,905                      130,549
          Other long-term liabilities                                      49,166                       47,697
          Shareholders' equity                                            276,669                      256,482
                                                                        $ 826,351                    $ 587,251
</TABLE>


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