<PAGE>   1

                                                                      Exhibit 99

                                    FORM 11-K


             FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
               AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


(Mark One)

[X]    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE 
ACT OF 1934 [FEE REQUIRED]

For the fiscal year ended December 31, 1997
                                       OR

[ ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

For the transition period from _______ to ________


                          Commission file number 1-7006



                               BRUSH WELLMAN INC.
                           SAVINGS AND INVESTMENT PLAN
                            (Full Title of the Plan)




                               BRUSH WELLMAN INC.
                             17876 St. Clair Avenue
                              Cleveland, Ohio 44110


                     (Name of issuer of the securities held
                      pursuant to the plan and the address
                       of its principal executive office.)


<PAGE>   2



                               BRUSH WELLMAN INC.
                           SAVINGS AND INVESTMENT PLAN




REQUIRED INFORMATION
--------------------

                                                                  Page No.


        1.  Report of Independent Auditors.                            1

        2.  Statements of Financial Condition -
            December 31, 1997 and December 31, 1996                  2-3

        3.  Statements of Income and Changes in Plan 
            Equity - Plan years ended December 31, 1997,
            December 31, 1996 and December 31, 1995.                 4-7

        4.  Notes to Financial Statements.                          8-16

        5. Schedules required to be filed under ERISA.

            a.  Schedule of Assets held for Investment
                Purposes.                                             17

            b.  Schedule of Reportable Transactions.                  18

        6.  Consent of Independent Auditors.                          19

        Pursuant to the requirements of the Securities Exchange Act of 1934, the
Plan has duly caused this annual report to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Cleveland, State of Ohio,
on the ____ day of March, 1998.


                                            BRUSH WELLMAN INC.
                                            SAVINGS AND INVESTMENT PLAN



                                            By  /s/ Dennis L. Habrat
                                               --------------------------------
                                                 Member of the Administrative
                                                 Committee


<PAGE>   3

                      [WESLEY, MILLS & COMPANY LETTERHEAD]


                         Report of Independent Auditors
                         ------------------------------



Administrative Committee of
Brush Wellman Inc. Savings
and Investment Plan

                  We have audited the financial statements of Brush Wellman Inc.
Savings and Investment Plan listed in the Annual Report on Form 11-K as of and
for the years ended December 31, 1997 and 1996 and 1995. These financial
statements are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.

                  We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.

                  In our opinion, the financial statements listed in the Annual
Report on Form 11-K present fairly, in all material respects, the financial
position of Brush Wellman Inc. Savings and Investment Plan at December 31, 1997
and 1996, the results of its operations and changes in its plan equity for the
years ended December 31, 1997 and 1996 and 1995 in conformity with generally
accepted accounting principles.

                  Our audits were made for the purpose of forming an opinion on
the financial statements taken as a whole. The accompanying supplemental
schedules of assets held for investment purposes as of December 31, 1997 and
reportable transactions for the year ended December 31, 1997 are presented for
purposes of complying with the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974, and are not a required part of the financial statements. The supplemental
schedules have been subjected to the auditing procedures applied in our audit of
the financial statements and, in our opinion, are fairly stated in all material
respects in relation to the financial statements taken as a whole.

                                                    Wesley, Mills & Company

                                                    /s/ Wesley, Mills & Company

March 11, 1998


<PAGE>   4

                               BRUSH WELLMAN INC.
                           SAVINGS AND INVESTMENT PLAN
                        STATEMENT OF FINANCIAL CONDITION
                                DECEMBER 31, 1997

<TABLE>
<CAPTION>
                                                                                          S&P 500         ASSET            FIXED    
              ASSETS                            GROWTH     INTERNATIONAL      INCOME       INDEX        ALLOCATION        INCOME    
-------------------------------------------  ------------  -------------   ------------ ------------   ------------      ---------  

<S>                                          <C>            <C>            <C>          <C>             <C>             <C>         
Brush Wellman Inc. Common Stock
    (cost $22,143,106)                                                                                                              
Janus Fund
    (cost $12,892,394)                       $13,986,318                                                                            
Templeton Foreign Fund
    (cost $6,678,891)                                       $6,897,662                                                              
PFAMCO Equity Income Fund
    (cost $8,273,176)                                                      $9,583,620                                               
Northern Trust Collective Stock Index Fund
    (cost $10,773,413)                                                                   $14,505,606                                
Vanguard Asset Allocation Fund
    (cost $7,760,450)                                                                                   $8,873,272                  
PIMCO Total Return Fund
    (cost $6,900,971)                                                                                                   $7,202,491  
Northern Trust Short-Term Investment Fund
    (cost $6,422,214)                                                                                                               
Participant Promissory Notes
    (cost $3,498,440)                                                                                                               
Employee Benefits Money Market Fund
    (cost $134,905)                                                                                                                 
                                            ------------  -------------  -------------   ------------ -------------   ------------- 
                                              13,986,318     6,897,662      9,583,620     14,505,606     8,873,272       7,202,491  
Dividends Receivable                                                                                                                
Interest Receivable                                                                                                         37,250  
Other
                                            ------------  -------------  -------------   ------------ -------------   ------------- 
                                                                                                                            37,250  
                                            ------------  -------------  -------------   ------------ -------------   ------------- 

TOTAL ASSETS                                 $13,986,318    $6,897,662     $9,583,620    $14,505,606    $8,873,272      $7,239,741  
                                            ============  =============  =============   ============ =============   ============= 

      LIABILITIES & PLAN EQUITY
-------------------------------------


Plan Equity                                   13,986,318     6,897,662      9,583,620    14,505,606      8,873,272       7,239,741  
                                            ------------  -------------  -------------  ------------ --------------   ------------- 

TOTAL LIABILITIES & PLAN EQUITY              $13,986,318    $6,897,662     $9,583,620   $14,505,606     $8,873,272      $7,239,741  
                                            ============  ============   ============  ============  =============   =============  

<CAPTION>
                                                 MONEY           STOCK        PAYSOP         LOAN                      
              ASSETS                            MARKET            FUND         FUND          FUND             TOTAL    
-------------------------------------------   -----------     ------------   ---------    -----------     ------------ 
                                                                                                                       
<S>                                           <C>             <C>            <C>           <C>            <C>          
Brush Wellman Inc. Common Stock                                                                                        
    (cost $22,143,106)                                        $27,483,732    $321,612                     $27,805,344  
Janus Fund                                                                                                             
    (cost $12,892,394)                                                                                     13,986,318  
Templeton Foreign Fund                                                                                                 
    (cost $6,678,891)                                                                                       6,897,662  
PFAMCO Equity Income Fund                                                                                              
    (cost $8,273,176)                                                                                       9,583,620  
Northern Trust Collective Stock Index Fund                                                                             
    (cost $10,773,413)                                                                                     14,505,606  
Vanguard Asset Allocation Fund                                                                                         
    (cost $7,760,450)                                                                                       8,873,272  
PIMCO Total Return Fund                                                                                                
    (cost $6,900,971)                                                                                       7,202,491  
Northern Trust Short-Term Investment Fund                                                                              
    (cost $6,422,214)                         $6,422,214                                                    6,422,214  
Participant Promissory Notes
    (cost $3,498,440)                                                                      $3,498,440       3,498,440  
Employee Benefits Money Market Fund                                                                                    
    (cost $134,905)                                               133,782       1,123                         134,905  
                                            -------------   --------------   ---------   -------------  -------------- 
                                               6,422,214       27,617,514     322,735       3,498,440      98,909,872  
Dividends Receivable                                              134,127       1,575                         135,702  
Interest Receivable                               30,647              751           5                          68,653  
Other                                                                                                                  
                                            -------------   --------------   ---------   -------------  -------------- 
                                                  30,647          134,878       1,580                         204,355  
                                            -------------   --------------   ---------   -------------  -------------- 
                                                                                                                       
TOTAL ASSETS                                  $6,452,861      $27,752,392    $324,315      $3,498,440     $99,114,227  
                                            =============   ==============   =========   =============  ============== 
                                                                                                                       
      LIABILITIES & PLAN EQUITY                                                                                        
-------------------------------------                                                                                  
                                                                                                                       
                                                                                                                       
Plan Equity                                    6,452,861       27,752,392     324,315       3,498,440      99,114,227  
                                            -------------   --------------   ---------   ------------   -------------  
                                                                                                                       
TOTAL LIABILITIES & PLAN EQUITY               $6,452,861      $27,752,392    $324,315      $3,498,440     $99,114,227  
                                            ============   ==============    ========    ============   =============  
</TABLE>


See accompanying notes to financial statements.


                                       2
<PAGE>   5

                               BRUSH WELLMAN INC.
                           SAVINGS AND INVESTMENT PLAN
                        STATEMENT OF FINANCIAL CONDITION
                                DECEMBER 31, 1996

<TABLE>
<CAPTION>
                                                                                             S&P 500         ASSET        FIXED     
             ASSETS                              GROWTH       INTERNATIONAL     INCOME        INDEX       ALLOCATION      INCOME    
-------------------------------------------   -------------   -------------  -----------   -----------   ------------   ----------- 

<S>                                            <C>              <C>          <C>           <C>            <C>           <C>         
Brush Wellman Inc. Common Stock
    (cost $21,316,961)                                                                                                              
Janus Fund
    (cost $9,140,759)                          $10,368,651                                                                          
Templeton Foreign Fund
    (cost $5,334,105)                                           $6,029,302                                                          
PFAMCO Equity Income Fund
    (cost $5,793,594)                                                        $6,407,987                                             
Northern Trust Collective Stock Index Fund
    (cost $7,548,719)                                                                      $9,625,596                               
Vanguard Asset Allocation Fund
    (cost $6,851,379)                                                                                     $6,890,813                
PIMCO Total Return Fund
    (cost $6,304,014)                                                                                                   $6,631,102  
Northern Trust Short-Term Investment Fund
    (cost $6,805,573)                                                                                                               
Participant Promissory Notes
    (cost $3,256,882)                                                                                                               
Employee Benefits Money Market Fund
    (cost $102,828)                                                                                                                 
                                             -------------   -------------  -----------   -----------   ------------   -----------  
                                                10,368,651       6,029,302    6,407,987     9,625,596      6,890,813     6,631,102  
Dividends Receivable                                                                                                        35,758  
Interest Receivable                                                                                                                 
Other                                                                           106,649                                             
                                             -------------   -------------  -----------   -----------   ------------   -----------  
                                                                                106,649                                     35,758  
                                             -------------   -------------  -----------   -----------   ------------   -----------  

TOTAL ASSETS                                   $10,368,651      $6,029,302   $6,514,636    $9,625,596     $6,890,813    $6,666,860  
                                             =============   =============  ===========   ===========   ============   ===========  

    LIABILITIES & PLAN EQUITY
---------------------------------------


Plan Equity                                     10,368,651       6,029,302    6,514,636     9,625,596      6,890,813     6,666,860  
                                             -------------   -------------  -----------   -----------   ------------   -----------  

TOTAL LIABILITIES & PLAN EQUITY                $10,368,651      $6,029,302   $6,514,636    $9,625,596     $6,890,813    $6,666,860  
                                             =============   =============  ===========   ===========   ============   ===========  

<CAPTION>
                                                   MONEY            STOCK            PAYSOP          LOAN                       
             ASSETS                               MARKET             FUND             FUND           FUND           TOTAL       
-------------------------------------------   --------------   ----------------   ------------   -------------   -------------  
                                                                                                                                
<S>                                              <C>               <C>               <C>           <C>           <C>            
Brush Wellman Inc. Common Stock                                                                                                 
    (cost $21,316,961)                                             $17,763,305       $222,406                    $17,985,711    
Janus Fund                                                                                                                      
    (cost $9,140,759)                                                                                             10,368,651    
Templeton Foreign Fund                                                                                                          
    (cost $5,334,105)                                                                                              6,029,302    
PFAMCO Equity Income Fund                                                                                                       
    (cost $5,793,594)                                                                                              6,407,987    
Northern Trust Collective Stock Index Fund                                                                                      
    (cost $7,548,719)                                                                                              9,625,596    
Vanguard Asset Allocation Fund                                                                                                  
    (cost $6,851,379)                                                                                              6,890,813    
PIMCO Total Return Fund                                                                                                         
    (cost $6,304,014)                                                                                              6,631,102    
Northern Trust Short-Term Investment Fund                                                                                       
    (cost $6,805,573)                            $6,757,471                                                        6,757,471    
Participant Promissory Notes
    (cost $3,256,882)                                                                              $3,256,882      3,256,882    
Employee Benefits Money Market Fund                                                                                             
    (cost $102,828)                                                     88,991         13,837                        102,828    
                                             --------------   ----------------   ------------   -------------   -------------   
                                                  6,757,471         17,852,296        236,243       3,256,882     74,056,343    
Dividends Receivable                                                   119,317          1,496                        156,571    
Interest Receivable                                  30,302                500             65                         30,867    
Other                                                                                                                106,649    
                                             --------------   ----------------   ------------   -------------   -------------   
                                                     30,302            119,817          1,561                        294,087    
                                             --------------   ----------------   ------------   -------------   -------------   
                                                                                                                                
TOTAL ASSETS                                     $6,787,773        $17,972,113       $237,804      $3,256,882    $74,350,430    
                                             ==============   ================   ============   =============   =============   
                                                                                                                                
    LIABILITIES & PLAN EQUITY                                                                                                   
---------------------------------------                                                                                         
                                                                                                                                
                                                                                                                                
Plan Equity                                       6,787,773         17,972,113        237,804       3,256,882     74,350,430    
                                             --------------   ----------------   ------------   -------------   -------------   
                                                                                                                                
TOTAL LIABILITIES & PLAN EQUITY                  $6,787,773        $17,972,113       $237,804      $3,256,882    $74,350,430    
                                             ==============   ================   ============   =============   =============   
</TABLE>


See accompanying notes to financial statements.


                                       3

<PAGE>   6

                               BRUSH WELLMAN INC.
                           SAVINGS AND INVESTMENT PLAN
                 STATEMENT OF INCOME AND CHANGES IN PLAN EQUITY
                          YEAR ENDED DECEMBER 31, 1997

<TABLE>
<CAPTION>
                                                                                           S&P 500           ASSET         FIXED    
                                          GROWTH      INTERNATIONAL         INCOME          INDEX          ALLOCATION       INCOME  
                                      -------------  -----------------  -------------   -------------   ---------------  -----------

<S>                                    <C>                 <C>            <C>            <C>                <C>          <C>        
Investment Income:
   Dividends                              $589,960           $322,339       $244,109        $196,820          $285,646              
   Interest                                    506                293            342             542               319     $426,821 
   Other Income (Expense)                                                                                                           
                                      -------------  -----------------  -------------   -------------   ---------------  -----------
                                           590,466            322,632        244,451         197,362           285,965      426,821 

Realized Gain (Loss) on
   Investments--Note E                   2,015,682            580,554      1,269,377       1,504,561           545,573      266,798 

Unrealized Appreciation (Depreciation)
   on Investments--Note F                 (133,969)          (476,424)       696,051       1,655,317         1,073,388      (25,567)

Contributions--Note B
   Company                                                                                                                          
   401(k)                                1,495,850            881,985        768,668       1,073,326           702,802      569,428 
                                      -------------  -----------------  -------------   -------------   ---------------  -----------
                                         1,495,850            881,985        768,668       1,073,326           702,802      569,428 


Investment Election Change                (100,358)          (104,166)       509,790         898,543           140,557     (347,350)

Loan Transfers                              32,148             62,807          6,952         (93,106)              743      (32,498)

Unallocated Loan Payments                                                                                                           

Withdrawals and
   Terminations--Note C                    282,152            399,028        426,305         355,993           766,569      284,751 
                                      -------------  -----------------  -------------   -------------   ---------------  -----------

Income and Changes in Plan Equity        3,617,667            868,360      3,068,984       4,880,010         1,982,459      572,881 

Plan Equity at Beginning of the Year    10,368,651          6,029,302      6,514,636       9,625,596         6,890,813    6,666,860 
                                      -------------  -----------------  -------------   -------------   ---------------  -----------

PLAN EQUITY AT END OF THE YEAR         $13,986,318         $6,897,662     $9,583,620     $14,505,606        $8,873,272   $7,239,741 
                                      =============  =================  =============   =============   ===============  ===========

<CAPTION>
                                               MONEY           STOCK            PAYSOP        LOAN                          
                                              MARKET            FUND             FUND          FUND            TOTAL        
                                         ---------------   --------------    ------------  -------------   --------------   
                                                                                                                            
<S>                                          <C>             <C>                <C>          <C>             <C>            
Investment Income:                                                                                                          
   Dividends                                                    $512,954          $6,170                      $2,157,998    
   Interest                                    $376,814           16,269             397       $253,118        1,075,421    
   Other Income (Expense)                                         23,624          (1,557)                         22,067    
                                         ---------------   --------------    ------------  -------------   --------------   
                                                376,814          552,847           5,010        253,118        3,255,486    
                                                                                                                            
Realized Gain (Loss) on                                                                                                     
   Investments--Note E                                           129,878         (52,977)                      6,259,446    
                                                                                                                            
Unrealized Appreciation (Depreciation)                                                                                      
   on Investments--Note F                                      8,830,479         163,010                      11,782,285    
                                                                                                                            
Contributions--Note B                                                                                                       
   Company                                                     2,113,241                                       2,113,241    
   401(k)                                       384,661          440,310                                       6,317,030    
                                         ---------------   --------------    ------------  -------------   --------------   
                                                384,661        2,553,551                                       8,430,271    
                                                                                                                            
                                                                                                                            
Investment Election Change                      151,572       (1,134,258)        (14,330)                                   
                                                                                                                            
Loan Transfers                                  (41,032)         (37,296)                        67,743          (33,539)   
                                                                                                                            
Unallocated Loan Payments                                                                        33,539           33,539    
                                                                                                                            
Withdrawals and                                                                                                             
   Terminations--Note C                       1,206,927        1,114,922          14,202        112,842        4,963,691    
                                         ---------------   --------------    ------------  -------------   --------------   
                                                                                                                            
Income and Changes in Plan Equity              (334,912)       9,780,279          86,511        241,558       24,763,797    
                                                                                                                            
Plan Equity at Beginning of the Year          6,787,773       17,972,113         237,804      3,256,882       74,350,430    
                                         ---------------   --------------    ------------  -------------   --------------   
                                                                                                                            
PLAN EQUITY AT END OF THE YEAR               $6,452,861      $27,752,392        $324,315     $3,498,440      $99,114,227    
                                         ===============   ==============    ============  =============   ==============   
</TABLE>




See accompanying notes to financial statements.

                                       4

<PAGE>   7


                               BRUSH WELLMAN INC.
                           SAVINGS AND INVESTMENT PLAN
                 STATEMENT OF INCOME AND CHANGES IN PLAN EQUITY
                          YEAR ENDED DECEMBER 31, 1996

<TABLE>
<CAPTION>
                                                                                          S&P 500         ASSET            ASSET    
                                            GROWTH      INTERNATIONAL       INCOME         INDEX        ALLOCATION       ALLOCATION 
                                        --------------  --------------   ------------   -----------   -------------    -------------

<S>                                       <C>              <C>            <C>           <C>                     <C>      <C>        
Investment Income:
   Dividends                                  $78,618        $155,189       $178,089      $196,318         $59,791         $184,120 
   Interest                                                                                     40                                  
   Other Income (Expense)                    (140,542)        (49,661)       (52,745)        1,051                              753 
                                        --------------  --------------   ------------   -----------   -------------    -------------
                                              (61,924)        105,528        125,344       197,409          59,791          184,873 

Realized Gain (Loss) on
   Investments--Note E                      1,400,469         223,270      1,108,472       722,676         501,151          376,090 

Unrealized Appreciation (Depreciation)
   on Investments--Note F                     224,826         567,238        (75,051)      791,262        (312,645)          39,434 

Contributions--Note B
   Company                                                                                                                          
   401(k)                                   1,235,328         768,459        633,965       771,948         338,277          282,974 
                                        --------------  --------------   ------------   -----------   -------------    -------------
                                            1,235,328         768,459        633,965       771,948         338,277          282,974 

Investment Election Change:
   7/1/96 Plan Change                                                                                   (5,927,322)       5,927,322
   Current Year Changes                       693,444        (279,414)       298,540       531,373        (272,484)         168,495 

Loan Transfers                                  5,708           4,535        (34,396)        5,128          12,176          (13,856)

Unallocated Loan Payments                                                                                                           

Withdrawals and
   Terminations--Note C                       396,728         134,326        322,488       448,605         209,694           74,519 
                                        --------------  --------------   ------------   -----------   -------------    -------------

Income and Changes in Plan Equity           3,101,123       1,255,290      1,734,386     2,571,191      (5,810,750)       6,890,813 

Plan Equity at Beginning of the Year        7,267,528       4,774,012      4,780,250     7,054,405       5,810,750                0 
                                        --------------  --------------   ------------   -----------   -------------    -------------

PLAN EQUITY AT END OF THE YEAR            $10,368,651      $6,029,302     $6,514,636    $9,625,596              $0       $6,890,813 
                                        ==============  ==============   ============   ===========   =============    =============

<CAPTION>
                                          FIXED           MONEY           STOCK         PAYSOP         LOAN                        
                                          INCOME          MARKET           FUND          FUND           FUND             TOTAL     
                                        ------------   ------------   --------------  -----------   ------------    -------------- 
                                                                                                                                   
<S>                                      <C>            <C>             <C>             <C>          <C>              <C>          
Investment Income:                                                                                                                 
   Dividends                                                               $442,822       $7,080                       $1,302,027  
   Interest                                $429,974       $346,350            6,117        1,118       $251,904         1,035,503  
   Other Income (Expense)                                                     1,374       (1,469)                        (241,239) 
                                        ------------   ------------   --------------  -----------   ------------    -------------- 
                                            429,974        346,350          450,313        6,729        251,904         2,096,291  
                                                                                                                                   
Realized Gain (Loss) on                                                                                                            
   Investments--Note E                       53,664                         (45,347)                                    4,340,445  
                                                                                                                                   
Unrealized Appreciation (Depreciation)                                                                                             
   on Investments--Note F                  (199,966)                       (998,240)     (11,142)                          25,716  
                                                                                                                                   
Contributions--Note B                                                                                                              
   Company                                                                1,910,402                                     1,910,402  
   401(k)                                   619,396        423,544          401,965                                     5,475,856  
                                        ------------   ------------   --------------  -----------   ------------    -------------- 
                                            619,396        423,544        2,312,367                                     7,386,258  
                                                                                                                                   
Investment Election Change:                                                                                                        
   7/1/96 Plan Change                                                                                                              
   Current Year Changes                    (544,791)       (57,542)        (531,725)      (5,896)                                  
                                                                                                                                   
Loan Transfers                               16,034        (93,033)        (107,586)                     82,865          (122,425) 
                                                                                                                                   
Unallocated Loan Payments                                                                               (87,732)          (87,732) 
                                                                                                                                   
Withdrawals and                                                                                                                    
   Terminations--Note C                     279,031        427,521          774,612       11,168         92,213         3,170,905  
                                        ------------   ------------   --------------  -----------   ------------    -------------- 
                                                                                                                                   
Income and Changes in Plan Equity            95,280        191,798          305,170      (21,477)       154,824        10,467,648  
                                                                                                                                   
Plan Equity at Beginning of the Year      6,571,580      6,595,975       17,666,943      259,281      3,102,058        63,882,782  
                                        ------------   ------------   --------------  -----------   ------------    -------------- 
                                                                                                                                   
PLAN EQUITY AT END OF THE YEAR           $6,666,860     $6,787,773      $17,972,113     $237,804     $3,256,882       $74,350,430  
                                        ============   ============   ==============  ===========   ============    ============== 
</TABLE>



See accompanying notes to financial statements.

                                        5

<PAGE>   8

                               BRUSH WELLMAN INC.
                           SAVINGS AND INVESTMENT PLAN
                 STATEMENT OF INCOME AND CHANGES IN PLAN EQUITY
                          YEAR ENDED DECEMBER 31, 1995

<TABLE>
<CAPTION>
                                                                                  S&P 500        ASSET       FIXED         MONEY
                                         GROWTH    INTERNATIONAL    INCOME         INDEX      ALLOCATION     INCOME        MARKET
                                       ----------  -------------  -----------    ----------   ----------   ----------    -----------

<S>                                    <C>           <C>           <C>           <C>          <C>          <C>           <C>       
Investment Income:
   Dividends                           $  230,704    $  120,175    $  118,087    $  126,716   $  175,358   $   37,345    $      335
   Interest                                     3            62           (57)        1,406          (88)     369,523       384,180
   Other Income (Expense)                 145,446        52,799       160,893           215       (5,789)         130           411
                                       ----------    ----------    ----------    ----------   ----------   ----------    ----------
                                          376,153       173,036       278,923       128,337      169,481      406,998       384,926

Realized Gain (Loss) on
   Investments--Note E                    110,541       177,639        84,078       332,016      417,723      143,684

Unrealized Appreciation (Depreciation)
   on Investments--Note F               1,003,066       127,958       689,444     1,285,614      312,645      527,054

Contributions--Note B
   Company
   401(k)                               1,095,412       827,949       572,343       597,024      679,023      698,659       514,984
                                       ----------    ----------    ----------    ----------   ----------   ----------    ----------
                                        1,095,412       827,949       572,343       597,024      679,023      698,659       514,984

Plan Merger -- Note A                                                                                                           501

Investment Election Change:
   1/1/95 Plan Change                   4,298,945     3,712,726     2,976,847     4,587,494    5,167,817    5,192,931     6,663,511
   Current Year Changes                   541,260       (75,928)      308,292       367,108     (718,922)     (47,775)      (93,355)

Loan Transfers                            (22,439)        3,922        (9,258)      (20,141)     (19,177)    (119,899)      (83,478)

Unallocated Loan Payments

Withdrawals and
   Terminations--Note C                   135,410       173,290       120,419       223,047      197,840      230,072       791,114
                                       ----------    ----------    ----------    ----------   ----------   ----------    ----------

Income and Changes in Plan Equity       7,267,528     4,774,012     4,780,250     7,054,405    5,810,750    6,571,580     6,595,975

Plan Equity at Beginning of the Year            0             0             0             0            0            0             0
                                       ----------    ----------    ----------    ----------   ----------   ----------    ----------

PLAN EQUITY AT END OF THE YEAR         $7,267,528    $4,774,012    $4,780,250    $7,054,405   $5,810,750   $6,571,580    $6,595,975
                                       ==========    ==========    ==========    ==========   ==========   ==========    ==========
</TABLE>


See accompanying notes to financial statements.

                                       6

<PAGE>   9

                               BRUSH WELLMAN INC.
                           SAVINGS AND INVESTMENT PLAN
                 STATEMENT OF INCOME AND CHANGES IN PLAN EQUITY
                          YEAR ENDED DECEMBER 31, 1995

<TABLE>
<CAPTION>
                                           INCOME        EQUITY       EQUITY       EQUITY         STOCK        PAYSOP    
                                            FUND         FUND A       FUND B       FUND C         FUND          FUND     
                                       -------------  -----------  -----------  -----------  -------------  -----------  

<S>                                     <C>           <C>          <C>          <C>           <C>             <C>      
Investment Income:
   Dividends                                                                                     $352,679       $3,568   
   Interest                                                                                        10,744        1,291   
   Other Income (Expense)                                                                         192,317        3,647   
                                       -------------  -----------  -----------  -----------  -------------  -----------  
                                                                                                  555,740        8,506   

Realized Gain (Loss) on
   Investments--Note E                      214,089      474,999      (12,619)       5,888        (82,030)               

Unrealized Appreciation (Depreciation)
   on Investments--Note F                  (201,462)    (472,705)      14,214       (2,813)      (157,861)       1,385   

Contributions--Note B
   Company                                                                                      1,815,838                
   401(k)                                                                                         442,057                
                                       -------------  -----------  -----------  -----------  -------------  -----------  
                                                                                                2,257,895                

Plan Merger -- Note A                     2,174,657      221,971      266,585      363,013        687,127                

Investment Election Change:
   1/1/95 Plan Change                   (17,434,297)  (6,400,676)  (2,818,083)  (5,693,929)      (275,286)               
   Current Year Changes                                                                          (255,586)      (2,722)  

Loan Transfers                                                                                   (121,062)               

Unallocated Loan Payments                                                                                                

Withdrawals and
   Terminations--Note C                                                                           721,484       11,547   
                                       -------------  -----------  -----------  -----------  -------------  -----------  

Income and Changes in Plan Equity       (15,247,013)  (6,176,411)  (2,549,903)  (5,327,841)     1,887,453       (4,378)  

Plan Equity at Beginning of the Year     15,247,013    6,176,411    2,549,903    5,327,841     15,779,490      263,659   
                                       -------------  -----------  -----------  -----------  -------------  -----------  

PLAN EQUITY AT END OF THE YEAR                   $0           $0           $0           $0    $17,666,943     $259,281   
                                       =============  ===========  ===========  ===========  =============  ===========  

<CAPTION>
                                          LOAN                    
                                          FUND          TOTAL     
                                       -----------   ------------ 
                                                                  
<S>                                    <C>           <C>          
Investment Income:                                                
   Dividends                                          $1,164,967  
   Interest                              $182,910        949,974  
   Other Income (Expense)                                550,069  
                                       -----------   ------------ 
                                          182,910      2,665,010  
                                                                  
Realized Gain (Loss) on                                           
   Investments--Note E                                 1,866,008  
                                                                  
Unrealized Appreciation (Depreciation)                            
   on Investments--Note F                              3,126,539  
                                                                  
Contributions--Note B                                             
   Company                                             1,815,838  
   401(k)                                              5,427,451  
                                       -----------   ------------ 
                                                       7,243,289  
                                                                  
Plan Merger -- Note A                     133,074      3,846,928  
                                                                  
Investment Election Change:                                       
   1/1/95 Plan Change                      22,000                 
   Current Year Changes                                   22,372  
                                                                  
Loan Transfers                            391,532                 
                                                                  
Unallocated Loan Payments                 154,810        154,810  
                                                                  
Withdrawals and                                                   
   Terminations--Note C                   154,064      2,758,287  
                                       -----------   ------------ 
                                                                  
Income and Changes in Plan Equity         730,262     16,166,669  
                                                                  
Plan Equity at Beginning of the Year    2,371,796     47,716,113  
                                       -----------   ------------ 
                                                                  
PLAN EQUITY AT END OF THE YEAR         $3,102,058    $63,882,782  
                                       ===========   ============ 
</TABLE>

See accompanying notes to financial statements.


                                       7
<PAGE>   10





                          NOTES TO FINANCIAL STATEMENTS
                               BRUSH WELLMAN INC.
                           SAVINGS AND INVESTMENT PLAN

           DECEMBER 31, 1997, DECEMBER 31, 1996 AND DECEMBER 31, 1995


NOTE A - The accounting records of the Brush Wellman Inc. Savings and Investment
Plan (Plan) are maintained on the accrual basis. Investments are stated at
current market value. Investment in securities traded on national securities
exchanges are valued at the latest reported closing price. Investment in
participant units of the Northern Trust Short-Term Investment Fund, Managed
Guaranteed Investment Contract Fund and the Employee Benefits Money Market Fund
are stated at market value as determined by the Trustee. Cost is determined by
the average cost method.

        The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.

       Effective January 1, 1995 the Williams Advanced Materials Inc. Savings
and Investment Plan was merged into the Plan. Prior to the merger, the plans
separately covered eligible employees at Brush Wellman Inc. and its subsidiary
Williams Advanced Materials Inc. There were no substantial changes in
eligibility, Company contributions, plan benefits or value of plan assets as a
result of the merger. The transferred net assets were recognized in the accounts
of the Plan, at the balances as previously carried in the accounts of the
Williams Advanced Materials Inc. Savings and Investment Plan. The changes in net
assets of the combined plans are included in the accompanying Statement of
Income and Changes in Plan Equity from January 1, 1995.

NOTE B - The Plan is a defined contribution plan which covers certain eligible
employees with one year of eligibility service with Brush Wellman Inc.
(Company). An employee shall be credited with a year of eligibility service if
he is credited with at least 1,000 hours of service in any twelve consecutive
month period beginning with date of hire or rehire of the employee (or an
anniversary of the latest such date).

        The Plan provides for basic contributions on behalf of employees up to
6% of their earnings through either salary reduction or employee after-tax
contributions. Basic contributions were matched by the Company at the rate of
50% of such contributions. The rate at which such basic contributions are
matched by the Company may be decreased or increased (up to 100%) by action of
the Company's Board of Directors.

        An employee who makes basic contributions of 6% of earnings may also
make supplemental contributions of up to 9% of earnings which are not matched by
Company contributions and which may be made in any combination of salary
reduction and/or after-tax contributions.

        An employee's contributions made to the Plan on a salary reduction basis
may not exceed certain maximum amounts. The maximum amounts were $9,500 in 1997,
$9,500 in 1996 and $9,240 in 1995. All employee and Company matching
contributions are fully vested at all times.

                                       8

<PAGE>   11



        Participants may direct that their basic, supplemental and transfer
contributions (as described in the Plan) be invested in one or more of the
following: Growth Fund, International Fund, Income Fund, S&P 500 Index Fund,
Asset Allocation Fund, Fixed Income Fund, Money Market Fund and the Company
Stock Fund in increments of 1%. Prior to March 3, 1995, participant contribution
directions were allowed at 10% increments. All Company matching contributions
are invested in the Company Stock Fund except with respect to Participants age
55 or older who may transfer such contributions to other investment funds. Prior
to March 3, 1995 the minimum age for the exception was 59 1/2.

        The Growth Fund invests primarily in the Janus Fund. The objective of
the fund is to produce capital appreciation; dividend income is a secondary
source of return. The fund invests primarily in the stocks of companies and
industries that are experiencing increasing demand for their products and
services. There were 1,253 participants in the fund at the end of the Plan year.

        The International Fund invests primarily in the Templeton Foreign Fund.
The objective of the fund is to produce capital appreciation. The fund primarily
invests in stocks of companies located outside of the United States. There were
903 participants in the fund at the end of the Plan year.

        The Income Fund invests primarily in the PFAMCO Equity Income Fund. The
objective of the fund is to seek current income from stocks in each industry
that have low prices relative to their earnings and high dividend yields. The
fund will usually be fully invested in stocks. There were 884 participants in
the fund at the end of the Plan year.

        The S&P 500 Index Fund invests primarily in the Northern Trust
Collective Stock Index Fund. The objective of the fund is to produce returns
that match the returns of the Standard & Poor's 500 Stock Index. The fund
proportionately invests in each of the stocks that comprise the Standard &
Poor's 500 Stock Index. There were 1,068 participants in the fund at the end of
the Plan year.

        The Asset Allocation Fund invests primarily in the Vanguard Asset
Allocation Fund. The objective of the fund is to maximize total returns
consistent with reasonable risk using a combination of stocks, bonds, and money
market investments. Prior to July 1, 1996, the Asset Allocation Fund invested
primarily in the Phoenix Total Return Fund. There were 847 participants in the
fund at the end of the Plan year.

        The Fixed Income Fund invests primarily in the PIMCO Total Return Fund.
The objective of the fund is to seek current income and capital appreciation.
The fund invests in bonds with an average maturity of three to six years and
will generally be invested in high quality securities including U.S. Government
bonds, corporate bonds, mortgage-related securities and money market
investments. There were 626 participants in the fund at the end of the Plan
year.

        The Money Market Fund invests primarily in the Northern Trust Short-Term
Investment Fund. The objective of the fund is to maximize current income on cash
reserves to the extent consistent with principal preservation and maintenance of
liquidity. The fund invests in high-grade money market instruments with short
maturities. There were 496 participants in the fund at the end of the Plan year.

        The Company Stock Fund invests primarily in Brush Wellman Inc. Common
Stock. There were 1,796 participants in the fund at the end of the Plan year.

        On July 1, 1996 the Plan changed the investment choice for the Asset
Allocation Fund from the Phoenix Total Return Fund to the Vanguard Asset
Allocation Fund. All assets from the Phoenix Fund were transferred into the
Vanguard Fund effective this date.


                                       9
<PAGE>   12


        Prior to January 1, 1995 participants could direct their basic,
supplemental and transfer contributions (as described in the Plan) be invested
in one or more of the following; Income Fund, Equity Fund A, Equity Fund B,
Equity Fund C and the Company Stock Fund in increments of 10%.

        The Income Fund invests primarily in the Managed Guaranteed Investment
Contract Fund, the objective of which is to achieve high current income with
stability of principal. The fund is primarily invested in Guaranteed Investment
Contracts.

        Equity Fund A invests primarily in the Fidelity U.S. Equity Index Fund.
This fund is a growth and income fund. It seeks a yield that corresponds with
the total return of the Standard & Poor's 500 Stock Index. The fund's share
price will fluctuate and dividend amounts will vary.

        Equity Fund B invests primarily in the Fidelity Fund. This fund seeks
long-term capital growth and current return on capital and will select some
securities for their income characteristics, which may limit the potential for
growth. The fund's share price and dividend income will fluctuate as the value
and yields of the securities in its investment portfolio fluctuate.

        Equity Fund C invests primarily in Fidelity Puritan Fund. This fund is a
growth and income fund. It seeks capital growth in addition to regular quarterly
dividends. It invests in a broadly diversified portfolio of common stocks,
preferred stocks and bonds, including lower-quality, high yield debt securities.
The fund's share price will fluctuate and dividend amounts will vary.

        The Plan, as originally adopted, included a Payroll Stock Ownership Plan
(PAYSOP) feature that applied through 1986. Under the PAYSOP, the Company made
contributions based upon a percentage of payroll and was afforded an additional
credit against federal income tax up to the amount allowable by the Internal
Revenue Code. The PAYSOP contribution by the Company, which could be in Common
Stock of the Company or cash used to purchase Common Stock of the Company, was a
percentage of the compensation paid to all employees who made salary reduction
contributions to the Plan at any time during the year and who were members of
the Plan as of the last pay period of such year. The shares of Common Stock of
the Company contributed or purchased were allocated equally to all eligible
participants.

        A participant may borrow funds from his account, excluding his interest
in the PAYSOP Fund, provided such loan is secured by the participant's interest
in his account and evidenced by a promissory note executed by the participant.
The promissory notes are held in trust as a separate fund, Loan Fund, of the
Plan.

        Prior to June 1, 1989, participants who were employees of Williams
Advanced Materials Inc. could have directed a portion of their contributions to
be used to purchase insurance policies that were excluded from the former
Williams Advanced Materials Inc. Savings and Investment Plan assets. Life
insurance policies on the lives of participants, purchased under the former
Williams Advanced Materials Inc. Savings and Investment Plan prior to July 1,
1989, may continue to be held.

        All costs and expenses incurred in connection with the administration of
the Plan for 1997, 1996, and 1995 were paid by the Company.

        Information concerning the Plan agreement and the vesting and benefit
provisions is contained in the Summary Plan Description. Copies of this pamphlet
are available from the Plan administrator.


                                       10
<PAGE>   13


NOTE C - At retirement, death or other termination, a participant (or his death
beneficiary) is eligible to receive a distribution of all employee, Company
matching and PAYSOP contributions credited to the employee's account plus or
minus any net gain or loss thereon.

        The value of distributions and withdrawals is based on the value of a
participant's account on the valuation date immediately preceding the date of
distribution or withdrawal and is deducted from the participant's account as of
such valuation date.

        Distribution to a participant or a person designated by the participant
as his death beneficiary is made under one of the following methods as elected
by the participant:

        ( i) Lump sum payment in cash; or
        (ii) Lump sum payment in cash, except that a participant's interest in
the Company Stock Fund and the PAYSOP Fund will be paid in full shares of Common
Stock of the Company, with any fractional shares being paid in cash.


                                       11
<PAGE>   14



NOTE D - Shares of face value by investment as of December 31, 1997 and December
31, 1996 are as follows:

<TABLE>
<CAPTION>
                                                         Shares By Investment
                                                    --------------------------------
                  Investment                               1997              1996
                  ----------                               ----              ----

<S>                                                     <C>               <C>      
Janus Fund                                                561,700           424,076
Templeton Fund                                            693,232           581,979
PFAMCO Equity Income Fund                                 629,259           472,565
Northern Trust Collective Stock
   Index Fund                                             767,899           617,421
Vanguard Asset Allocation Fund                            421,533           384,103
PIMCO Total Return Fund                                   679,480           631,534
Northern Trust Short-Term
   Investment Fund                                      6,422,213         6,757,471
Brush Wellman Inc. Common Stock                         1,134,912         1,213,246
Employee Benefit Money Market Fund                        134,905            68,776
</TABLE>

In addition, $3,498,440 and $3,256,882 were invested in Participant Promissory
Notes as of December 31, 1997 and December 31, 1996, respectively.

On July 1, 1996 the Vanguard Asset Allocation Fund replaced the Phoenix Total
Return Fund.


                                       12
<PAGE>   15


NOTE E: The net realized gain (loss) on sales of investments for the Plan years
ended December 31, 1997 December 31, 1996 and December 31, 1995 is as follows:

<TABLE>
<CAPTION>
                                                                                       1997
                                                   ----------------------------------------------------------------------
                 Investment                                   Shares          Cost            Proceeds        Gain(Loss)
                 ----------                                   ------          ----            --------        ----------

<S>                                                          <C>              <C>               <C>           <C>    
Janus Fund                                                    48,746       $1,735,953        $3,751,635       $2,015,682
Templeton Fund                                                92,636          764,231         1,344,785          580,554
PFAMCO Equity Income Fund                                     41,321        1,210,205         2,479,582        1,269,377
Northern Trust Collective Stock
   Index Fund                                                 87,600        1,720,132         3,224,693        1,504,561
Vanguard Asset Allocation Fund                                72,313          363,499           909,072          545,573
PIMCO Total Return Fund                                      169,306          330,159           596,957          266,798
Brush Wellman Inc. Common Stock                               61,873        1,003,412         1,080,313           76,901
                                                                                                           --------------
                                                                                                              $6,259,446
                                                                                                           ==============
</TABLE>

<TABLE>
<CAPTION>
                                                                                       1996
                                                   ----------------------------------------------------------------------
                 Investment                                   Shares          Cost            Proceeds        Gain(Loss)
                 ----------                                   ------          ----            --------        ----------

<S>                                                          <C>            <C>               <C>             <C>   
Janus Fund                                                    32,450         $665,430        $2,065,899       $1,400,469
Templeton Fund                                                97,393          879,703         1,102,973          223,270
PFAMCO Equity Income Fund                                     54,403          640,837         1,749,309        1,108,472
Northern Trust Collective Stock
   Index Fund                                                 75,307          872,895         1,595,571          722,676
Phoenix Total Return Fund                                    396,623        6,033,647         6,534,798          501,151
Vanguard Asset Allocation Fund                                 8,232          146,556           522,646          376,090
PIMCO Total Return Fund                                      142,677        1,416,931         1,470,595           53,664
Brush Wellman Inc. Common Stock                               48,137          928,849           883,502          (45,347)
                                                                                                           --------------
                                                                                                              $4,340,445
                                                                                                           ==============
</TABLE>

<TABLE>
<CAPTION>
                                                                                       1995
                                                   ----------------------------------------------------------------------
                 Investment                                  Shares          Cost            Proceeds        Gain(Loss)
                 ----------                                  ------          ----            --------        ----------

<S>                                                        <C>             <C>               <C>              <C>    
Janus Fund                                                    33,940         $650,645          $761,186         $110,541
Templeton Fund                                               103,753          917,868         1,095,507          177,639
PFAMCO Equity Income Fund                                     53,330          589,799           673,877           84,078
Northern Trust Collective Stock
   Index Fund                                                 87,493          932,548         1,264,564          332,016
Phoenix Total Return Fund                                     82,342        1,225,019         1,642,742          417,723
PIMCO Total Return Fund                                      117,292        1,144,388         1,288,072          143,684
Brush Wellman Inc. Common Stock                               59,224        1,150,567         1,068,537          (82,030)
Managed Guaranteed Investment
   Contract Fund                                           1,729,438       17,296,476        17,510,565          214,089
Fidelity U.S. Equity Index Portfolio                         378,019        5,919,589         6,394,588          474,999
Fidelity Fund Inc.                                           153,786        2,856,184         2,843,565          (12,619)
Fidelity Puritan Fund                                        379,472        5,617,162         5,623,050            5,888
                                                                                                           --------------
                                                                                                              $1,866,008
                                                                                                           ==============
</TABLE>

The Department of Labor requires that realized gains and losses be calculated
using current cost (cost at the beginning of the Plan Year) rather than
historical cost. Realized gains under the current cost method for the year ended
December 31, 1997 are as follows:

<TABLE>
<CAPTION>
                                                                                          Realized
                                                                                         Gain/(Loss)
                                                                                      ------------------

<S>                                                                                          <C>       
Brush Wellman Inc. Common Stock                                                                $125,135
Janus Fund                                                                                    2,042,395
Templeton Fund                                                                                  609,425
PFAMCO Equity Income Fund                                                                     1,283,234
Northern Trust Collective Stock Index Fund                                                    1,564,425
Vanguard Asset Allocation Fund                                                                  555,302
PIMCO Total Return Fund                                                                         250,693
                                                                                      ------------------
                                                                                             $6,430,609
                                                                                      ==================
</TABLE>



                                       13
<PAGE>   16


NOTE F - The unrealized appreciation (depreciation) of investments for the Plan
years ended December 31, 1997, December 31, 1996 and December 31, 1995 is as
follows:

<TABLE>
<CAPTION>
                                                              Balance                                   Balance
                                                             January 1                                December 31
                                                               1997                 Change                1997
                                                           --------------      ----------------     ----------------

<S>                                                           <C>                  <C>                   <C>       
Janus Fund                                                    $1,227,892             ($133,969)          $1,093,923
Templeton Fund                                                   695,196              (476,424)             218,772
PFAMCO Equity Income Fund                                        614,393               696,051            1,310,444
Northern Trust Collective Stock Index Fund                     2,076,876             1,655,317            3,732,193
Vanguard Asset Allocation Fund                                    39,434             1,073,388            1,112,822
PIMCO Total Return Fund                                          327,088               (25,567)             301,521
Brush Wellman Inc. Common Stock                               (3,331,250)            8,993,489            5,662,239
                                                                               ----------------
                                                                                   $11,782,285
                                                                               ================
</TABLE>

<TABLE>
<CAPTION>
                                                              Balance                                   Balance
                                                             January 1                                December 31
                                                               1996                 Change                1996
                                                           --------------      ----------------     ----------------

<S>                                                           <C>                    <C>                 <C>       
Janus Fund                                                    $1,003,066              $224,826           $1,227,892
Templeton Fund                                                   127,958               567,238              695,196
PFAMCO Equity Income Fund                                        689,444               (75,051)             614,393
Northern Trust Collective Stock Index Fund                     1,285,614               791,262            2,076,876
Phoenix Total Return Fund                                        312,645              (312,645)                   0
Vanguard Asset Allocation Fund                                         0                39,434               39,434
PIMCO Total Return Fund                                          527,054              (199,966)             327,088
Brush Wellman Inc. Common Stock                               (2,321,868)           (1,009,382)          (3,331,250)
                                                                               ----------------
                                                                                       $25,716
                                                                               ================
</TABLE>



                                       14
<PAGE>   17


<TABLE>
<CAPTION>
                                                                 Balance                                    Balance
                                                                January 1                                 December 31
                                                                  1995                Change                  1995
                                                             ----------------     ----------------      -----------------

<S>                                                              <C>                   <C>                    <C>        
Janus Fund                                                                             $1,003,066             $1,003,066
Templeton Fund                                                                            127,958                127,958
PFAMCO Equity Income Fund                                                                 689,444                689,444
Northern Trust Collective Stock
   Index Fund                                                                           1,285,614              1,285,614
Phoenix Total Return Fund                                                                 312,645                312,645
PIMCO Total Return Fund                                                                   527,054                527,054
Northern Trust Short-Term
   Investment Fund
Brush Wellman Inc. Common Stock:
   -Brush Wellman Savings & Investment Plan                      ($2,219,813)            (102,055)            (2,321,868)
   -Williams Advanced Materials Savings &
    Investment Plan                                                   54,421              (54,421)
Managed Guaranteed Investment Contract Fund:
   -Brush Wellman Savings & Investment Plan                          176,253             (176,253)
   -Williams Advanced Materials Savings &
    Investment Plan                                                   25,209              (25,209)
Fidelity U.S. Equity Index Portfolio:
   -Brush Wellman Savings & Investment Plan                          461,819             (461,819)
   -Williams Advanced Materials Savings &
    Investment Plan                                                   10,886              (10,886)
Fidelity Fund Inc.:
   -Brush Wellman Savings & Investment Plan                           (6,359)               6,359
   -Williams Advanced Materials Savings &
    Investment Plan                                                   (7,855)               7,855
Fidelity Puritan Fund:
   -Brush Wellman Savings & Investment Plan                           17,658              (17,658)
   -Williams Advanced Materials Savings &
    Investment Plan                                                  (14,845)              14,845
                                                                                  ----------------

                                                                                       $3,126,539
                                                                                  ================
</TABLE>


The Department of Labor requires that unrealized appreciation and depreciation
be calculated using current cost rather that historical cost. Unrealized gains
and losses under the current cost method for the year ended December 31, 1997
are as follows:

<TABLE>
<CAPTION>
                                                                                     Change in
                                                                               Unrealized Gain/(Loss)
                                                                             ---------------------------

<S>                                                                                   <C>        
Janus Fund                                                                              ($160,682)
Templeton Fund                                                                           (505,295)
PFAMCO Equity Income Fund                                                                 682,194
Northern Trust Collective Stock Index Fund                                              1,595,453
Vanguard Asset Allocation Fund                                                          1,063,659
PIMCO Total Return Fund                                                                    (9,462)
Brush Wellman Inc. Common Stock                                                         8,945,255
                                                                                  ----------------
                                                                                      $11,611,122
                                                                                  ================
</TABLE>



                                       15
<PAGE>   18



NOTE G - The Internal Revenue Service has determined that the Plan is qualified
under Internal Revenue Code Section 401(a) and that the related trust is,
therefore, tax-exempt under Code Section 501(a).

        Continued qualification of the Plan depends upon timely adoption and
operational application of certain amendments required as a result of the Tax
Reform Act of 1986 (Act). In the Company's opinion, the Plan is operating in
compliance with the applicable provisions of the Act.

        The Company is allowed a federal income tax deduction for its employer
matching contributions to the Plan.

        The Plan provides, among other things, for contributions to be made to
the Plan pursuant to a qualified cash or deferred arrangement (CODA) under
Section 401(k) of the IRC. CODA contributions made to the Trust for a
participant will reduce a participant's current compensation and will not be
included in the gross income of the participant for federal income tax purposes
in the year made. Such amounts will, however, be considered as part of the
participant's gross income for purposes of Social Security taxes.

        Non-CODA contributions withheld under the Plan from a participant
through payroll deductions will be included in the gross income of the
participant in the year withheld and are not deductible by the participant for
federal income tax purposes.

        A participant does not become subject to federal income taxes as a
result of their participation in the Plan until the assets in their account are
withdrawn by, or distributed to, the participant.


NOTE H - The Plan was restated on January 1, 1995. Subsequent amendments Nos. 1
and 2, also effective January 1, 1995, provide for certain provisions concerning
member contributions, distributions and key employee testing procedures.

NOTE I - Effective January 1, 1995 the Williams Advanced Materials Inc. Savings
and Investment Plan was merged into the Plan. Prior to the merger, the plans
covered eligible employees at Brush Wellman Inc. and its subsidiary, Williams
Advanced Materials Inc., there were no substantial changes in eligibility,
Company contributions, plan benefits or value of plan assets as a result of the
merger. The transferred net assets have been recognized in the accounts of the
Plan, at their balances as previously carried in the accounts of the Williams
Advanced Materials Inc. Savings and Investment Plan. The changes in net assets
of the combined plans are included in the accompanying Statement of Changes in
Net Assets available for benefits from January 1, 1995.


                                       16
<PAGE>   19

                                                                  EIN 34-0119320
                                                                          PN 003

                               BRUSH WELLMAN INC.
                            SAVINGS & INVESTMENT PLAN
                                DECEMBER 31, 1997




SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES:

<TABLE>
<CAPTION>
                                                                                                              CURRENT
                   INVESTMENTS                         DESCRIPTION                      COST                   VALUE
                   -----------                         -----------                      ----                   -----

<S>                                                   <C>                            <C>                   <C>
Brush Wellman Inc. Common Stock                       Common Stock                   $22,143,106           $27,805,344

Janus Fund                                            Mutual Fund                    $12,892,394           $13,986,318

Templeton Fund                                        Mutual Fund                     $6,678,891            $6,897,662

PFAMCO Equity Income Fund                             Mutual Fund                     $8,273,176            $9,583,620

Northern Trust Collective Stock Index Fund            Mutual Fund                    $10,773,413           $14,505,606

Vanguard Asset Allocation Fund                        Mutual Fund                     $7,760,450            $8,873,272

PIMCO Total Return Fund                               Mutual Fund                     $6,900,971            $7,202,491

Northern Trust Short-Term Investment Fund             Bank Common/                    $6,422,214            $6,422,214
                                                      Collective Trust

Participant Promissory Notes                          Participant Loans               $3,498,440            $3,498,440

Employee Benefit Money Market Fund                    Bank Common/                      $134,905              $134,905
                                                      Collective Trust
</TABLE>


                                       17
<PAGE>   20




                               BRUSH WELLMAN INC.
                            SAVINGS & INVESTMENT PLAN
                       SCHEDULE OF REPORTABLE TRANSACTIONS
                                DECEMBER 31, 1997



<TABLE>
<CAPTION>
                                                         PURCHASES                       SALES
                                              ---------------------------  --------------------------------
             TRANSACTION DESCRIPTION          # TRANS            COST         # TRANS          PROCEEDS          GAIN/(LOSS)

<S>                                               <C>      <C>                  <C>       <C>                     <C>       
Brush Wellman Inc. Common Stock                   31       $2,435,779.51        21        $1,420,909.45           $76,901.48

Janus Fund                                       107        9,477,705.19        89         1,077,406.69           281,311.75

Northern Trust Collective Stock Index Fund       126        4,445,557.80        69         1,130,876.67           485,402.99

PIMCO Total Return Fund                           77        2,270,873.38        71         1,673,916.65            88,134.04
</TABLE>




                                       18
<PAGE>   21


                      [WESLEY, MILLS & COMPANY LETTERHEAD]



                         CONSENT OF INDEPENDENT AUDITORS


                  We consent to the incorporation by reference in the Annual
Report on Form 10-K under the Securities Exchange Act of 1934 of Brush Wellman
Inc. for the year ended December 31, 1997 of our report dated March 11, 1998,
with respect to the financial statements and schedules of the Brush Wellman Inc.
Savings and Investment Plan included in this Annual Report (11-K) for the year
ended December 31, 1997.




                                                  Wesley, Mills & Company

                                                  /s/ Wesley, Mills & Company


Cleveland, Ohio
March 11, 1998



                                       19