SECURITIES AND EXCHANGE COMMISSION	
WASHINGTON, DC 20549

FORM 10-K

ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended 			Commission File Number 1-9788
September 30, 1997

LANDAUER, INC.
(Exact name of registrant as specified in its charter)

	Delaware							06-1218089
(State or other jurisdiction				  (I.R.S. Employer 
of incorporation or organization)			Identification Number)


2 Science Road, Glenwood, Illinois 60425
(Address of principal executive offices and zip code)

Registrant's telephone number, including area code: (708) 755-7000

Securities registered pursuant to Section 12(b) of the Act:


	Common stock with par value of $.10	American Stock Exchange
	(Title of each class)	(Name of exchange on which registered)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange 
Act of 1934 during the preceding 12 months (or for such shorter period 
that the registrant was required to file such reports), and (2) has 
been subject to such filing requirements for the past 90 days.  
Yes [ X ]  No [  ]

Indicate by check mark if disclosure of delinquent filers pursuant to 
Item 405 of Regulation S-K is not contained herein, and will not be 
contained, to the best of registrant's knowledge, in definitive proxy 
or information statements incorporated by reference in Part III of this 
Form 10-K or any amendment to this Form 10-K. 

As of December 11, 1997, 8,504,091 common shares were outstanding, and 
the aggregate market value of the voting and non-voting common equities 
(based upon the closing price on the American Stock Exchange) held by 
non-affiliates was approximately $210,000,000.

Certain portions of the registrant's definitive Proxy Statement in 
connection with the February 4, 1998 Annual meeting of Stockholders 
(the "Proxy Statement") are incorporated by reference into Part III of 
this Annual Report on Form 10-K.

INDEX

Item		Page

PART I
1.	Business
	General Description	3
	Marketing and Sales	3
	Patents	4
	Raw Materials	4
	Competition	4
	Research and Development	5
	Environmental Regulations	5
	Employees and Labor Relations	6
2.	Properties	6
3.	Legal Proceedings	6
4.	Submission of Matters to a Vote of Security Holders	6
4A.	Executive Officers of the Registrant	6

PART II
5. Market for Registrant's Common Stock and 
	  Related Stockholder Matters	7
6.	Selected Financial Data	7
6. Management's Discussion and Analysis of Financial 
	  Condition and Results of Operations	7
8.	Financial Statements and Supplementary Data
	Consolidated Balance Sheets	9
	Consolidated Statements of Income	11
	Consolidated Statements of Stockholders' Investment	12
	Consolidated Statements of Cash Flows	13
	Notes to Financial Statements	15
	Report of Independent Public Accountants	22
9. Changes in and Disagreements With Accountants on 
	  Accounting and Financial Disclosure	24

PART III
10.	Directors and Executive Officers of the Registrant	24
11.	Executive Compensation	24
12. Security Ownership of Certain Beneficial Owners 
13. and Management	24
13.	Certain Relationships and Related Transactions	24

PART IV
14. Exhibits, Financial Statement Schedules, and Reports 
	  on Form 8-K	24
	Financial Statements	24
	Financial Statement Schedules	24
	List of Exhibits	25
	Reports on Form 8-K	26
	Signatures of Registrant and Directors	27

PART I

ITEM 1.  BUSINESS

GENERAL DESCRIPTION

Landauer, Inc. is a Delaware corporation organized on December 22, 1987 
to carry on the radiation monitoring business previously carried on by 
Tech/Ops, Inc. (Tech/Ops). On February 6, 1991, the Company changed its 
name from Tech/Ops Landauer, Inc. to Landauer, Inc.

The Company offers a service for measuring, primarily through film and 
thermoluminescent badges worn by client personnel, the dosages of x-
ray, gamma radiation and other penetrating ionizing radiations to which 
the wearer has been exposed. While most of the Company's revenues are 
domestic, these services are marketed in the United Kingdom and Canada.

Landauer's operations also include a service for detecting radon gas. 
Landauer also offers personnel dosimetry services for monitoring 
nitrous oxide anesthetic gases. At present, these services make up a 
small part of revenues.

Landauer's wholly-owned subsidiary, HomeBuyer's Preferred, Inc., offers 
a radon monitoring service and when warranted, remediation to 
purchasers of personal residences. The service is targeted to corporate 
employee relocation programs which have generally regarded radon as a 
serious environmental hazard.

Landauer's activities also include the operations of a 50%-owned 
subsidiary in Japan involved in radiation monitoring in that country.
The Company's shares are listed on the American Stock Exchange. As of 
September 30, 1997, there were 8,504,091 shares outstanding.
As used herein, the "Company" or "Landauer" refers to Landauer, Inc. 
and its wholly-owned subsidiary.

MARKETING AND SALES

Landauer's personnel dosimetry services are marketed primarily by full-
time Company personnel located in Illinois, Michigan, California, 
Maryland, New Jersey, Georgia, Texas, and the United Kingdom. U.S. 
sales personnel also market these services in Canada. Other firms and 
individuals market the Company's services on a commission basis, 
primarily to small customers.

The Company has more than 45,000 customers representing more than 
900,000 individuals who use the Company's services. Typically, a client 
will contract for a year's service in advance, representing twelve 
monthly badges, readings, and reports. Sales are made principally on a 
subscription basis and deferred income as shown on the balance sheet 
represents advance payment for services to be rendered. At September 
30, 1997 and 1996, deferred income was $8,710,000 and $8,375,000, 
respectively.

Radon gas detection kits are marketed primarily to institutional 
customers and to retail customers through some major retail chains and 
wholesale distributors to smaller retailers.

The HomeBuyer's Preferred Radon Protection Plan service agreement is 
marketed to companies and to their corporate relocation service 
providers for the benefit of purchasers of residences incident to 
transfers of personnel.

PATENTS

The Company holds exclusive world-wide licenses to patent rights for 
certain technologies which measure radiation exposure to crystalline 
materials when stimulated with light. These licenses were acquired by 
the Company from Battelle Memorial Institute in 1994 as part of a 
collaborative effort to develop a new generation of radiation dosimetry 
technology.

At this time the Company is using the optically stimulated technology 
to provide dosimetry services to a small number of its customers. The 
Company is concurrently developing equipment and systems which will 
make this technology available to virtually all of its customers over 
the next three years. The importance of the licenses cannot be 
determined until the technology is fully developed and implemented as a 
commercial service.

Additionally, the Company holds certain patent rights which relate to 
various designs of alpha-track radon detection devices. These patents 
expire from the years 2000 through 2010.

The Company believes that its business is primarily dependent upon the 
Company's technical competence, the quality and reliability of its 
services, and its prompt and responsive performance.

Rights to inventions of employees working for Landauer are assigned to 
the Company.

RAW MATERIALS

The Company has many sources for most of its materials and supplies, 
such as chemicals, and believes that the number of sources and 
availability of items are adequate. Landauer internally produces 
certain of its requirements, such as plastic film badge holders. 
Although the Company purchases most of its photographic film from a 
single supplier, the Company's development of the optically stimulated 
luminescence technology is expected to replace film as the predominant 
method for providing radiation dosimetry services.

COMPETITION

There are two major competitors as well as a number of small companies 
that operate in limited markets. During 1996, the Company's two largest 
competitors merged to form the second largest personnel dosimetry 
service in the U.S.

With the exception of Japan and the United Kingdom, radiation 
monitoring activities in most major foreign countries are generally
conducted by government agencies. The Japanese market is served by the 
Company through its 50%-owned joint venture, Nagase-Landauer, Ltd. 
Customers in the United Kingdom are served by the Company's facility in 
Oxford. In early 1995, the Company began offering radiation monitoring 
services to customers in Canada following approval of the Company's 
devices by Canadian authorities. In the United States, major government 
installations, such as Oak Ridge National Laboratories, have their own 
in-house radiation monitoring services. Additionally, many large 
private nuclear power plants also have their own in-house radiation 
monitoring services. As stated above, the Company competes on the basis 
of technical competence, the quality and reliability of its services, 
and its prompt and responsive performance.

Radon gas detection services represent a market in which Landauer has 
many large and small competitors, many of whom use short-term charcoal 
detectors rather than the Company's alpha-track detectors. Charcoal 
radon detection technology measures gamma radiation (the radioactive 
decay products of radon gas) which has been adsorbed in charcoal after 
a period of from two to five days. Alpha-track technology measures the 
damage to a specially formulated plastic chip caused by radioactive 
decay products of radon gas over periods of from two weeks to one year. 
Competition occurs based on the alternative technologies available and 
is usually subject to a bid process.

The HomeBuyer's Preferred Radon Protection Plan represents a relatively 
new product sold exclusively to the corporate relocation market. In the 
past, more traditional methods of detection and remediation of radon 
gas hazards have been employed. Competition has emerged from existing 
providers of environmental testing as well as from start-up firms. 

RESEARCH AND DEVELOPMENT

The Company's technological expertise has been an important factor in 
its growth. The Company regularly pursues product improvements to 
maintain its technical position. The development of optically-
stimulated luminescence dosimetry, announced in 1994, was funded by the 
Company in its collaborative effort with Battelle Memorial Institute to 
commercialize a new technology for radiation dosimetry. The Company 
plans to accelerate the introduction of this technology during 1998.

The Company also participates regularly in several technical 
professional societies, both domestic and international, that are 
active in the fields of health physics, radiation detection and 
monitoring.

ENVIRONMENTAL REGULATIONS

The Company believes that it complies with federal, state and local 
provisions which have been enacted or adopted regulating the discharge 
of materials into the environment or otherwise protecting the 
environment. This compliance has not had, nor is it expected to have, a 
material effect on the capital expenditures, financial condition, 
liquidity, results of operation, or competitive position of Landauer.

EMPLOYEES AND LABOR RELATIONS

As of September 30, 1997, the Company employed approximately 260 full-
time employees. Landauer believes its relations with its employees are 
good.

ITEM 2. PROPERTIES

Landauer owns three adjacent buildings totalling approximately 60,000 
square feet in Glenwood, Illinois, about 30 miles south of Chicago.  
The properties and equipment of the Company are in good condition and, 
in the opinion of management, are suitable and adequate for the 
Company's operations.

ITEM 3. LEGAL PROCEEDINGS

Landauer is involved in various legal proceedings, but believes that 
these matters will be resolved without a material effect on its 
liquidity, results of operation, or financial position.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.

ITEM 4A. EXECUTIVE OFFICERS OF THE REGISTRANT

The executive officers of the Company are as follows:

NAME OF OFFICER	AGE	POSITION
---------------	---	---------
Thomas M. Fulton	64	President and 
		Chief Executive Officer
James M. O'Connell	50	Vice President, Finance,
		Treasurer, Secretary, and
		And Chief Financial Officer 
Brent A. Latta	54	Executive Vice President
R. Craig Yoder	45	Vice President-Operations

Mr. Fulton had for ten years been the General Manager of the R. S. 
Landauer Jr. & Company division of Tech/Ops, Inc., the former parent of 
Landauer, and was elected to his current positions at the inception of 
the Company on December 22, 1987. Mr. O'Connell, Mr. Latta, and Dr. 
Yoder were elected to their positions on November 7, 1990, November 15, 
1988, and February 2, 1994, respectively. Mr. O'Connell, prior to 
joining the Company in September 1990, was, for two years, Vice 
President and Chief Financial Officer of Darome, Inc., a 
telecommunications service and equipment manufacturing company. Mr. 
Latta, who joined the Company in June, 1987, had for more than five 
years previously been Vice President, Marketing of Sherwood Medical 
Company, a manufacturer and distributor of medical products. Dr. Yoder 
was elected to his position after serving as the Company's Technology 
Manager since 1983. Prior to this he was a member of the senior 
technical staff at Pennsylvania Power and Light, and at Battelle 
Pacific Northwest Laboratory.

There are no family relationships between any director or executive 
officer and any other director or executive officer of the Company.

PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED 
   STOCKHOLDER MATTERS

The Company's Common Stock has been traded on the American Stock 
Exchange since 1988. A summary of market prices of the Company's Common 
Stock is set forth in the table on page 20 of this Annual Report on 
Form 10-K. At December 11, 1997, there were approximately 600 
shareholders of record. There were no sales of unregistered securities 
during fiscal 1997.

The Company has paid regular quarterly cash dividends since January, 
1990. The Company has also paid special cash dividends in 1990 and 
1992. A summary of cash dividends paid for the last two years is set 
forth in the table on page 20 of this Annual Report on Form 10-K.

ITEM 6. SELECTED FINANCIAL DATA

A summary of selected financial data for the last six years is set 
forth in the inside front cover of the Company's Annual Report to 
Stockholders accompanying this Annual Report on Form 10-K.

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
   RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

Fiscal 1997 Compared to Fiscal 1996

Net revenues for fiscal 1997 were $39,914,000, an increase of 
$3,398,000, or 9.3%, over fiscal 1996. The growth in revenues resulted 
from increased unit sales and pricing for personnel dosimetry services 
and from increased sales of radon protection plan service agreements. 

Cost of sales as a percentage of net revenues decreased to 30% in 
fiscal 1997 compared with 30.1% a year ago.

Selling, general and administrative expenses for fiscal 1997 increased 
$806,000, or 8.3%, compared with fiscal 1996. As a percentage of net 
revenues, such expenses decreased to 26.3% in fiscal 1997 from 26.5% a 
year ago.

Other income for fiscal 1997 decreased to $1,518,000 from $1,579,000 in 
fiscal 1996, primarily as a result of lower income from the Company's 
Japanese venture due to a strong U.S. dollar in fiscal 1997.

Income tax expense for fiscal 1997 was $6,954,000 compared with 
$6,518,000 in fiscal 1996. The fiscal 1997 effective tax rate was lower 
at 36.7% compared with 37.4% for fiscal 1996 as a result of higher 
foreign tax credits. 

As a result, net income for fiscal 1997 increased $1,120,000, or 10.3%, 
to $12,019,000. Income per share increased from $1.29 in fiscal 1996 to 
$1.42 in fiscal 1997.

FISCAL 1996 COMPARED TO FISCAL 1995

Net revenues for fiscal 1996 were $36,516,000, an increase of 
$2,484,000, or 7.3%, over fiscal 1995. The growth in revenues resulted 
from increased unit sales and pricing for personnel dosimetry services 
and from increased sales of radon protection service agreements.

Cost of sales as a percentage of net revenues increased to 30.1% in 
fiscal 1996 compared with 29.1% a year ago. The increase in costs was 
primarily attributable to higher costs associated with the increase in 
radon protection service agreement revenues.

Selling, general and administrative expenses for fiscal 1996 increased 
$210,000, or 2.2%, compared with fiscal 1995. As a percentage of net 
revenues, such expenses decreased to 26.5% in fiscal 1996 from 27.8% a 
year ago.

Other income for fiscal 1996 increased to $1,579,000 from $1,381,000 in 
fiscal 1995. Higher interest and income from the Company's Japanese 
venture contributed to most of the increase.

Income tax expense for fiscal 1996 was $6,518,000 compared with 
$5,985,000 in fiscal 1995. The fiscal 1996 effective tax rate was 37.4% 
compared with 37.3% for fiscal 1995.

As a result, net income for fiscal 1996 increased $838,000, or 8.3%, to 
$10,899,000. Income per share increased from $1.19 in fiscal 1995 to 
$1.29 in fiscal 1996.

ITEM 8. CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

CONSOLIDATED BALANCE SHEETS
LANDAUER, INC. AND SUBSIDIARY

(DOLLARS IN THOUSANDS)


AS OF SEPTEMBER 30, NOTES	1997	1996
	----	----
ASSETS
Current assets:
  Cash and cash equivalents - 1	$1,860	$ 3,359
  Short-term investments1	8,381	7,885
  Receivables, net of allowances for 
    doubtful accounts of $219,000 in 
    1997 and $161,000 in 1996	8,568	7,545
  Inventories - 1	1,108	879
  Prepaid expenses	96	152
  Deferred taxes on income - 3	1,318	1,499
		-------	------
  Total current assets	21,331	21,319

Property, plant and equipment, at cost: - 1
   Land and improvements	571	567
   Buildings and improvements	3,191	3,187
   Equipment	15,650	14,311
 	19,412	18,065
  Less: accumulated depreciation and 
   amortization	11,681	10,340
Net property, plant and equipment	7,731	7,725

Investment in U.S. Treasury Securities1	4,969	2,936
Cost of purchased businesses in excess 
  of net assets acquired - 1	2,612	2,779
Equity in joint venture - 2	4,133	4,069
Other assets	2,959	2,775

TOTAL ASSETS	$ 43,735	  $ 41,603
		========	========

LIABILITIES AND STOCKHOLDERS' INVESTMENT
Current liabilities:
   Accounts payable	$    573	$    422
   Dividends payable	2,551	2,331
   Deferred contract revenue - 1	8,710	8,375
   Accrued compensation and related costs	1,534	1,235
   Accrued pension costs - 5	627	1,265
   Accrued taxes on income - 1 & 3	832	1,335
   Other accrued expenses	2,288	1,781

Total current liabilities	17,115	16,744

Commitments and contingencies - 6

CONSOLIDATED BALANCE SHEETS
LANDAUER, INC. AND SUBSIDIARY (Continued)
(DOLLARS IN THOUSANDS)


AS OF SEPTEMBER 30, NOTES	1997	1996
	----	----
STOCKHOLDERS' INVESTMENT - 4&6
Preferred Stock	--	--
Common Stock	850	848
Premium paid in on common stock	7,860	7,642
Cumulative translation adjustments	(59)	238
Retained earnings	17,969	16,131

     Total stockholders' investment	26,620	24,859

TOTAL LIABILITIES AND STOCKHOLDERS' 
  INVESTMENT	$ 43,735	$41,603
		========	=======
[FN]
The accompanying notes are an integral part of these
financial statements.

CONSOLIDATED STATEMENTS OF INCOME
LANDAUER, INC. AND SUBSIDIARY

(DOLLARS IN THOUSANDS, EXCEPT PER SHARE)

For the years ended September 30, Notes

		1997	1996	1995
		----	----	----

Net revenues	$   39,914	$   36,516	$  34,032
Costs and expenses
  Cost of sales	11,977	11,002	9,901
  Selling, general, and 
    Administrative - 1	10,482	9,676	9,466
 	22,459	20,678	19,367
Operating income	17,455	15,838	14,665
Equity in income of 
  joint venture - 2	722	781	830
Other income	796	798	551
Income before taxes	18,973	17,417	16,046
Income taxes - 1&3	(6,954)	(6,518)	(5,985)
Net Income	$  12,019	$  10,899	$  10,061
Net income per common and 
common equivalent share	$    1.42	$    1.29	$    1.19
<TABLE>
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' INVESTMENT
(DOLLARS IN THOUSANDS)

<CAPTION>
Premium
		Paid in on	Cumulative	Total
		Common	Common	Translation	Retained	Stockholders'
		Stock	Stock	Adjustments	Earnings	Investment
		----------	----------	-----------	--------	-------------
<S>	<C>	<C>	<C>	<C>	<C>
Balance September 30, 1994	$    848	$   7,831	$   879	$ 12,973	$ 22,531
Options exercised, net of repurchases	--	(313)	--	--	(313)
Net income	--	--	--	10,061	10,061
Foreign currency translation adjustment	--	--	(60)	--	(60)
Dividends	--	--	--	(8,477)	(8,477)
Compensatory effect of stock options	--	43	--	--	43

Balance September 30, 1995	$    848	$   7,561	$   819	$ 14,557	$ 23,785
Net income	--	--	--	10,899	10,899
Foreign currency translation adjustment	--	--	(581)	--	(581)
Dividends	--	--	--	(9,325)	(9,325)
Compensatory effect of stock options	--	81	--	--	81

Balance September 30, 1996	$    848	$   7,642	$   238	$ 16,131	$ 24,859
Options exercised, net of repurchases	2	73	--	--	75
Net income	--	--	--	12,019	12,019
Foreign currency translation adjustment	--	--	(297)	--	(297)
Dividends	--	--	--	(10,181)	(10,181)
Compensatory effect of stock options	--	145	--	--	145

Balance September 30, 1997	$    850	$   7,860	($      59)	$ 17,969	$ 26,620

<FN>
The accompanying notes are an integral part of these financial statements.
</TABLE>

CONSOLIDATED STATEMENTS OF CASH FLOWS
LANDAUER, INC. AND SUBSIDIARY

(DOLLARS IN THOUSANDS)

	                                    For the years ended September 30,
		1997	1996	1995
		----	----	----
Cash flow from operating activities:
	Net income	$ 12,019	$ 10,899	$ 10,061

	Non-cash expenses, revenues, and 
  gains reported in income
	    Depreciation and amortization	2,541	2,469	2,369
	    Equity in income of joint 
	      venture	(722)	(781)	(830)
	    Compensatory effect of stock
      options	145	81	43
	  Deferred income taxes	181	(753)	78
 	2,145	1,016	1,660

  Net increase in other current
    assets	(1,191)	(369)	(1,077)
  Net increase in current 
    liabilities	151	1,568	1,601
  Net increase in net long-term 
    assets	(141)	(259)	(13)
		(1,181)	940 	511

  Net cash generated from 
    operating activities	12,983	12,855	12,232

Cash flow from investing activities:
  Disposition of investments	12,273	10,873	5,521
  Acquisition of investments	(14,802)	(11,260)	(6,858)
  Acquisition of property, 
    plant and equipment	(2,423)	(2,297)	(2,976)

   Net cash used by investing 
     activities	(4,952)	(2,684)	(4,313)

Cash flow from financing activities:
   Exercise of stock options - net	75	--	(313)
   Dividend received from 
    foreign affiliate	356	386	354
   Dividends paid	(9,961)	(9,113)	(8,223)

   Net cash used by financing 
     activities	(9,530)	(8,727)	(8,182)

Net increase (decrease) in cash	(1,499)	1,444	(263)
Opening balance - cash and 
  cash equivalents	3,359	1,915	2,178

CONSOLIDATED STATEMENTS OF CASH FLOWS
LANDAUER, INC. AND SUBSIDIARY (Continued)

(DOLLARS IN THOUSANDS)


	                                  For the years ended September 30,
		1997	1996	1995
		----	----	----
Ending balance - cash and 
   cash equivalents	$   1,860	$   3,359	$   1,915

Supplemental Disclosure of Cash Flow Information:
   Cash paid for income taxes	$   7,289	$   7,523	$   5,897

Supplemental Disclosure of Non-cash Financing Activity:
   Dividend declared	$   2,551	$   2,331	$   2,119
   Foreign currency translation 
     adjustment         	(297)	(581)	(60)

The accompanying notes are an integral part of these 
financial statements.

NOTES TO FINANCIAL STATEMENTS, LANDAUER, INC. AND SUBSIDIARY


POLICIES

BASIS OF PRESENTATION

The accompanying financial statements include the accounts of Landauer, 
Inc. and HomeBuyer's Preferred, Inc., its wholly-owned subsidiary 
("Landauer" or the "Company"). Nagase-Landauer, Ltd. (50%-owned), is a 
Japanese corporation which is accounted for on the equity basis. All 
material intercompany transactions have been eliminated.

The cost of purchased businesses included in the accompanying financial 
statements exceeded the fair value of net assets at the date of 
acquisition in the amount of $3,865,000 and has been charged to "Cost 
of purchased business in excess of net assets acquired."  The excess is 
being amortized on a straight-line basis over fifteen years, except for 
an acquisition initiated prior to 1971 ($942,000), where in the opinion 
of management there has been no diminution in value. As of September 
30, 1997 and 1996, accumulated amortization was $1,253,000 and 
$1,086,000, respectively. 

Certain prior year balances in the accompanying financial statements 
have been reclassified to conform with presentation for the current 
year. These reclassifications have no effect on the results of 
operations or financial position.

CASH EQUIVALENTS

Cash equivalents include investments with an original maturity of three 
months or less.

INVESTMENT IN U.S. TREASURY SECURITIES

Investments in U.S. Treasury Securities having an original maturity of 
longer than three months but less than one year are classified as 
current assets. Those having an original maturity of longer than one 
year are classified as non-current assets.

The Company's policy is to hold investments until maturity and 
accordingly are carried at cost, adjusted for accretion of discount and 
amortization of premium in accordance with the provisions of Statement 
of Financial Accounting Standards ("SFAS") No. 115, "Accounting for 
Certain Investments in Debt and Equity Securities."

INVENTORIES

Inventories are priced at the lower of cost or market, and costs are 
relieved from inventory on a first-in, first-out basis.

REVENUES AND DEFERRED CONTRACT

Revenue
The Company recognizes revenues and the related costs for its services 
in the periods for which such services are provided. Many customers pay 
for these services in advance. The amounts recorded as deferred 
contract revenue in the balance sheet represent customer deposits 
invoiced in advance during the preceding twelve months for services to 
be rendered over the succeeding twelve months and are net of services 
rendered through the respective balance sheet date. Management believes 
that the amount of deferred contract revenue shown at the respective 
balance sheet date fairly represents the level of business activity it 
expects to conduct with customers invoiced under this arrangement.
		
Research and Development
The cost of research and development programs is charged to selling, 
general and administrative expense as incurred and amounted to 
approximately $1,516,000 in 1997, $1,534,000 in 1996, and $1,460,000 in 
1995.

Depreciation and Maintenance
Plant and equipment are depreciated on a straight-line basis over their 
estimated useful lives, which are primarily thirty years for buildings 
and five to eight years for equipment. Maintenance and repairs are 
charged to expense, and renewals and betterments are capitalized.

Income Taxes
Landauer files income tax returns in the jurisdictions in which it 
operates. For financial statement purposes, provisions for federal and 
state income taxes have been computed in accordance with the provisions 
of SFAS No. 109 entitled "Accounting for Income Taxes."

Income per Common and Common Equivalent Share
The weighted average number of outstanding common and common equivalent 
shares for Landauer was 8,483,252 during 1997 and 8,477,285 during 1996 
and 1995.

Use of Estimates
Management has made certain estimates and assumptions that affect the 
reported amount of assets and liabilities during the preparation of the 
financial statements. Actual results could differ from these estimates. 
However, management does not believe they would have a material effect 
on operating results.

2. Equity in Joint Venture
The 50% interest in the common stock of Nagase-Landauer, Ltd., a 
Japanese corporation located in Tokyo and engaged in providing 
radiation monitoring services in Japan, is accounted for on the equity 
basis. The related equity in earnings of this joint venture and fees 
earned therefrom are included in other income in the accompanying 

Statements of Income.
Condensed unaudited results of operations for Nagase-Landauer, Ltd. for 
the three years ended September 30, 1997 are as follows, converted into 
U.S. dollars at the then-current rate of exchange:

(dollars in thousands)	1997	1996	1995
	----	----	----
Revenues	$ 11,616	$ 12,116	$ 12,390
Income before income taxes	3,093	3,234	3,523
Net income	1,416	1,563	1,661
Average Exchange Rate (yen/dollar)	120.0	108.3	94.7

Condensed unaudited balance sheets for the years ended September 30, 
1997 and 1996 are as follows:

(dollars in thousands)	1997	1996
	----	----
Current assets	$ 12,323	$ 11,721
Other assets	1,035	1,244
Total assets	13,358	12,965
Liabilities	5,188	4,826
Stockholders' investment	8,170	8,139
Total liabilities and
  stockholders' investment	$ 13,358	$ 12,965

3. Income Taxes
The components of the provision for income taxes for the years ended 
September 30, 1997, 1996 and 1995 are as follows:

(dollars in thousands)
1997
 	Current	Deferred	Total
Federal	$ 5,445	$    146	$ 5,591
State	1,328	35	  1,363
	-------	--------	-------
    Total	$ 6,773	$    181	$ 6,954
	=======	========	=======

1996
 	Current	Deferred	Total
Federal	$ 5,843	$ (605)	$ 5,238
State	   1,428	   (148)	  1,280
	-------	-------	-------
    Total	$ 7,271	$ (753)	$ 6,518
	=======	=======	=======

1995
 	Current	Deferred	Total
Federal	$ 4,759	$     64	$ 4,823
State	  1,148	   14	  1,162
	-------	--------	-------
    Total	$ 5,907	$     78	$ 5,985
	=======	========	=======

The provision for taxes on income in each period differs from that 
which would be computed by applying the statutory U.S. federal income 
tax rate to the income before taxes. The following is a summary of the 
major items affecting the provision:

Statutory federal income tax rate	34%	34%	34%
Computed tax provision at
  statutory rate	$ 6,451	$ 5,922	$ 5,456
Increases (decreases) resulting from:
  State income tax provision,
  net of federal benefit	888	833	764
  Exercise of Stock Options	(188)	--	(107)
  Other	(197)	(237)	(128)
Income tax provision in the
  Statement of Income	$ 6,954	$ 6,518	$ 5,985

The Company has adopted SFAS No. 109, "Accounting For Income Taxes".
 Accordingly, the Company recognizes certain income and expense items 
in different years for financial and tax reporting purposes. Temporary 
differences are primarily attributable to (a) utilization of 
accelerated depreciation methods for tax purposes, (b) amortization of 
badge holder and software development costs, (c) limitations on 
deductibility of pension costs, (d) accrued benefit claims, vacation 
pay, and other compensation-related costs, and (e) reserves for 
obsolete inventory.
Significant components of deferred taxes are as follows:

(dollars in thousands)	1997	1996
	----	----
Deferred Tax Assets:
Badge Holder Amortization	$   848	$   809
Pension Accrual	590	555
Compensation Expense	437	452
Inventory Reserve	64	64
Other	350	362
	$ 2,289	$ 2,242
Deferred Tax Liabilities:
Depreciation	$   354	$   279
Software Development	617	464
	$   971	$   743

Management does not believe that a valuation allowance is required for 
the net deferred tax asset.

4. Capital Stock
Landauer has two classes of capital stock, preferred and common, with a 
par value of $.10 per share for each class. As of September 30, 1997 
and 1996 there were 8,504,091 and 8,477,285 shares of common stock 
issued and outstanding (20,000,000 shares are authorized), 
respectively. There are no shares of preferred stock issued (1,000,000 
are authorized).

Landauer has reserved 850,000 shares of common stock for grants under 
its stock bonus and option plans. Recipients of grants or options must 
execute a standard form of noncompetition agreement. As of September 
30, 1997, there have been no bonus shares issued. Options granted under 
these plans may be either incentive stock options or non-qualified 
options. Options granted through fiscal 1997 become exercisable over a 
four-year period at a price not less than fair market value on the date 
of grant. The options expire ten years from the date of grant. 

During fiscal 1997, options for 35,000 shares were exercised. As of 
September 30, 1997, non-qualified options for 530,000 shares had been 
granted at prices from $6.39 - $22.31 per share. At year-end, 380,220 
shares were exercisable. This plan also provides for the grant of stock 
appreciation rights, either separately or in relation to options 
granted. As of September 30, 1997, no stock appreciation rights had 
been granted.

On February 22, 1989, the Company entered into an agreement with its 
President under which options to purchase up to 100,000 shares of the 
Company's common stock were granted, at a price of $10.50 per share, 
exercisable over a ten-year period subject to the attainment of certain 
financial goals. For the years ended September 30, 1997, 1996, and 
1995, options for the purchase of 10,000, 9,870, and 5,520 shares, 
respectively, became exercisable under this agreement.

The Company has paid regular quarterly cash dividends since January, 
1990. Summaries of cash dividends paid are set forth in the tables on 
the inside front cover and on page 20 of this report. It is the 
Company's intention to continue the regular quarterly cash dividend 
policy under currently foreseeable circumstances.

5. Employee Benefit Plans
Landauer maintains a noncontributory defined benefit pension and 
retirement plan covering substantially all full-time employees. The 
Company also maintains a Supplemental Key Executive Retirement Plan 
which provides for certain retirement benefits payable to key officers 
and managers. While charges for the supplemental plan are expensed 
annually, the plan is not separately funded. The Company maintains a 
directors' retirement plan which provides for certain retirement 
benefits payable to non-employee directors. While charges for the 
directors' plan are expensed annually, the plan is not separately 
funded. The directors' plan was terminated in 1997.

The following table sets forth the status of these plans at September 
30, 1997 and 1996 in accordance with SFAS No.87:

(dollars in thousands)	1997	1996
	----	----
Actuarial present value of benefit obligations
  Vested benefits	$ 4,151	$ 3,798
  Unvested benefits	60	19
Accumulated benefit of obligation	4,211	3,817
Effect of projected future compensation
  levels	2,377	2,462
Projected benefit obligation	6,588	6,279
Plan assets at fair value	5,232	4,378
Plan assets less than projected
  benefit obligation	(1,356)	(1,901)
Unrecognized net loss	91	514
Unrecognized transition amount	112	203
Accrued pension cost	$(1,153)	$  (1,184)

The Landauer net pension expense for 1997 and 1996 included the 
following components as defined by SFAS No. 87:

(dollars in thousands)	1997	1996
	----	----
Service costs/benefits earned
  during the year	$  396	$  378
Interest cost on projected benefit
  obligation	440	419
Actual return on plan assets	(352)	(290)
Net amortization and deferred items 	70	40
Net pension expense	$  554	$  547

Plan assets for the defined benefit pension plan include marketable 
equity securities, corporate and government debt securities, and cash 
and short-term investments. The average discount rate and rate of 
increase in future compensation levels used in determining the 
actuarial present value of the projected benefit obligation were 7.5% 
and 5.5%, respectively, and the expected long-term rate of return on 
assets was 8.0%. The Supplemental Key Executive Retirement Plan and the 
director's retirement plan are not separately funded. The maximum 
liabilities for these unfunded plans included in the table above 
amounted to $864,000 and $693,000 at September 30, 1997 and 1996, 
respectively.

Landauer maintains a 401(k) savings plan covering substantially all 
full-time employees. Qualified contributions made by employees to the 
plan are partially matched by the Company. $80,000 and $74,000 was 
provided to expense for the years ended September 30, 1997 and 1996, 
respectively, under this plan.

Landauer has adopted SFAS No. 106, "Accounting for Postretirement 
Benefits Other than Pensions" to account for the Company's unfunded 
retiree medical expense reimbursement plan. Under the terms of the plan 
which covers retirees with ten or more years of service, the Company 
will reimburse retirees for (i) a portion of the cost of coverage under 
the then-current medical and dental insurance plans if the retiree is 
under age 65, or (ii) all or a portion of the cost of Medicare and 
supplemental coverages if the retiree is over age 64. The amount of the 
Company's unrecognized transition obligation resulting from the 
adoption of SFAS No. 106 is $340,000 as of September 30, 1997. This 
liability is included in "Other accrued expenses".

6. Commitments and Contingencies
The Company is involved in various legal proceedings, but believes that 
the outcome of these proceedings will not have a materially adverse 
effect on its financial condition.

Landauer has entered into an Employment and Compensation Agreement with 
its President providing for his employment in that capacity through 
December 31, 1998. Under the Agreement, a non-qualified stock option 
for 100,000 shares (included in the options described in Note 5 above) 
was granted to the President which becomes exercisable for up to 10,000 
shares per year on each December - from 1989 through 1998 under a 
formula reflecting average return on stockholders' investment and 
earnings per share over successive three-year periods. The Agreement 
also provides that, in the event of termination of employment, under 
certain circumstances, within two years after a change in control (as 
defined) of Landauer that is not approved by the Board of Directors, 
the President would receive specified benefits as defined in the 
Agreement.

In connection with the 1988 transfer of the personnel dosimetry 
business to Landauer, the Company has entered into a Liability 
Assumption and Sharing Agreement with Tech/Ops, Inc. ("Tech/Ops") 
providing for, among other things, (i) assumption by Landauer of all 
determinable and contingent liabilities and obligations of Tech/Ops 
relating to the personnel dosimetry and radon detection business, (ii) 
assumption by the other former subsidiary of all determinable and 
contingent liabilities and obligations of Tech/Ops relating to its 
electronic controller business, (iii) joint and several assumption by 
Landauer and the other former subsidiary of all contingent liabilities 
of Tech/Ops and (iv) the allocation of other liabilities jointly and 
severally assumed to the business in which they relate or, if they 
relate to neither business, in ratios reflective of relative profit 
contributions of the respective businesses for the five years ended 
September 30, 1987. As a result of this Agreement, $22,000 was provided 
to expense in fiscal 1996 and 1995.

7. Stock-Based Compensation Plans
The Company maintains two stock option plans for key employees, the 
Landauer, Inc. Key Employee Stock Bonus and Option Plan ("The 1988 
Plan") and the Landauer, Inc. 1996 Equity Plan ("The 1996 Plan"). It 
also maintains a stock option plan for its non employee directors ("The 
Directors' Plan"). The Company accounts for these plans under APB 
Opinion No. 25, under which no compensation cost has been recognized 
except for a performance-based grant for 100,000 shares (see Note 4 
above). Had compensation cost for these plans been determined 
consistent with FASB Statement No. 123, "Accounting for Stock-Based 
Compensation", the Company's net income and earnings per share would 
have been as follows:

(dollars in thousands)	1997	1996
	----	----
Net Income As Reported	$ 12,019	$ 10,899
Pro Forma	12,090	10,942

Primary and Fully As Reported	$   1.42	$   1.29
   Diluted EPS:
Pro Forma	1.39	1.26


Because the Statement 123 method of accounting has not been applied to 
options granted prior to October 1, 1996, the resulting pro forma 
compensation cost may not be representative of that to be expected in 
future years.

The Company may grant options for up to 800,000 shares under the 1988 
Plan (now terminated with respect to additional grants) and the 1996 
Plan. The Company may grant options for up to 50,000 shares under the 
Directors' Plan. The Company has granted options on 610,000 and 35,000 
shares, respectively, under these plans through September 30, 1997. 
Under each plan the option exercise price equals the stock's fair 
market value on the date of grant. Options granted under the Employees' 
Plans vest ratably over four years and options granted under the 
Directors' Plan vest ratably over ten years.

A summary of the status of these plans at September 30, 1997 and 1996 
and changes for the years then ended is presented in the table and 
narrative below:

(dollars in thousands, except per share)
1997
Weighted
Average
Exercise
	Shares	Price
Outstanding at Beginning of Year	535	$ 11.33
Granted	35	22.31
Exercised	(35)	7.84
Forfeited	(5)	16.50
Outstanding at End of Year	530 	$ 12.24
Exercisable at End of Year	380	$ 10.61

(dollars in thousands, except per share)
1996
Weighted
Average
Exercise
	Shares	Price
Outstanding at Beginning of Year	     525	$ 11.33
Granted	10	21.06
Outstanding at End of Year	535	$ 11.33
Exercisable at End of Year	370	$   9.72

The fair value of each option grant is estimated on the date of grant 
using the Black-Scholes option pricing model with the following 
weighted average assumptions used for grants in fiscal 1997 and 1996:

	1997	1996
	----	----

Risk-Free Interest Rates	6.79%	5.72%
Expected Dividend Yield	4.75%	4.75%
Expected Life (years)	9.0	9.0
Expected Volatility	22.3%	22.3%


REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS

To the Stockholders and Directors of Landauer, Inc.
We have audited the consolidated balance sheets of Landauer, Inc. and 
Subsidiary, a Delaware corporation (see Note 1), as of September 30, 
1997 and 1996 and the related consolidated statements of income, 
stockholders' investment, and cash flows for each of the three years in 
the period ended September 30, 1997. These financial statements are the 
responsibility of the Company'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 referred to above present 
fairly, in all material respects, the consolidated financial position 
of Landauer, Inc. and Subsidiary as of September 30, 1997 and 1996, and 
the consolidated results of its operations, and the changes in 
stockholders' investment and cash flows for each of the three years in 
the period ended September 30, 1997 in conformity with generally 
accepted accounting principles.

ARTHUR ANDERSEN LLP
Chicago, Illinois,
October 31, 1997


ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
          FINANCIAL DISCLOSURE
None.

PART III
ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

The information contained under the headings Election of Directors and 
Beneficial Ownership of Certain Voting Securities in the Proxy 
Statement relating to the directors of the Company is incorporated 
herein by reference. The information contained in Item 4A hereof 
relating to the executive officers of the registrant is incorporated 
herein by reference.


ITEM 11. EXECUTIVE COMPENSATION

Except for the information relating to Item 13 hereof and except for 
information referred to in Item 402(a)(8) of Regulation S-K, the 
information contained under the headings Executive Compensation and 
Compensation Committee Report in the Proxy Statement is incorporated 
herein by reference.


ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The information contained under the heading Beneficial Ownership of 
Certain Voting Securities in the Proxy Statement is incorporated herein 
by reference.


ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Except for the information relating to Item 11 hereof and except for 
information referred to in Item 402(a)(8) of Regulation S-K, the 
information contained under the headings Election of Directors, and 
Certain Relationship and Related Transactions in the Proxy Statement is 
incorporated herein by reference.

PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, 
           AND REPORTS ON FORM 8-K

A-1. Financial Statements

The financial statements of Landauer, Inc. filed as part of this Annual 
Report on Form 10-K are indexed at page 5.

A-2. Financial Statement Schedules

The Financial statement schedules filed as part of this Annual Report 
on Form 10-K have been included elsewhere in the financial statements 
or the notes thereto.

A-3. List of Exhibits

(3) (a)	Certificate of Incorporation of the Registrant, as amended 
through February 4, 1993, is incorporated by reference to Exhibit (3) 
(a) to the Annual Report on Form 10-K for the fiscal year ended 
(b) September 30, 1993.

(3) (b)	By-laws of the Registrant are incorporated by reference to 
Exhibit (3) (b) to the Annual Report on Form 10-K for the fiscal year 
ended September 30, 1992.

(4) (a)	Specimen common stock certificate of the Registrant is 
attached hereto as Exhibit     (4) (a).

(10) (a)	Landauer, Inc. Key Employee Stock Bonus and Option Plan, as 
amended through   June 17, 1992, is incorporated by reference to 
Exhibit (10) (a) to the Annual Report on Form 10-K for the fiscal year 
ended September 30, 1992.

(10) (b)	The Landauer, Inc. 1996 Equity Plan is incorporated by 
reference to Exhibit (10) (b) to the Annual Report on Form 10-K for the 
fiscal year ended September 30, 1996.

(10) (c)	Liability Assumption and Sharing Agreement among Tech/Ops, 
Inc., Tech/Ops Sevcon, Inc., and the Registrant is incorporated by 
reference to Exhibit (10) (d) to the Annual Report on Form 10-K for the 
fiscal year ended September 30, 1993.

(10) (d)	Form of Indemnification Agreement between the Registrant 
and each of its directors is incorporated by reference to Exhibit (10) 
(e) to the Annual Report on Form 10-K for the fiscal year ended 
September 30, 1993.

(10) (e)	Employment and Compensation Agreement dated February 22, 
1989 between the Registrant and Thomas M. Fulton, as amended through 
June 17, 1992, is incorporated by reference to Exhibit (10) (f) to the 
Annual Report on Form 10-K for the fiscal year ended September 30, 
1992.

(10) (f)	Landauer, Inc. Directors' Retirement Plan dated March 21, 
1990, is incorporated by reference to Exhibit (10) (f) to the Annual 
Report in Form 10-K for the fiscal year ended September 30, 1996.

(10) (g)	Form of Supplemental Key Executive Retirement Plan is 
incorporated by reference to Exhibit (10) (h) to the Annual Report on 
Form 10-K for the fiscal year ended September 30, 1993. 

(10) (h)	The Landauer, Inc. Incentive Compensation Plan for 
Executive Officers is incorporated by reference to Exhibit 10 (h) to 
the Annual Report in Form 10-K for the fiscal year ended September 30, 
1996.

(10) (i)	The Landauer, Inc. 1997 Non-Employee Director's Stock 
Option Plan is attached hereto as Exhibit (10) (i).

(10) (j)	Employment agreements between the Registrant and Brent A. 
Latta, James M. O'Connell, and R. Craig Yoder dated February 29, 1996 
are attached hereto as Exhibit (10) (j).

(21) Subsidiaries of the registrant are incorporated by reference to 
(22) Exhibit (22) to the Annual Report on Form 10-K for the fiscal 
(23) year ended September 30, 1993.

	Exhibits 10(a), 10(b), 10(e), 10(f), 10(g), 10(h), 10(i) and 
10(j) listed above are the management contracts and compensatory plans 
or arrangements required to be filed as exhibits hereto pursuant to the 
requirements of Item 601 of Regulation S-K.

B. Reports on Form 8-K

The Company did not file a Report on Form 8-K during the fiscal quarter 
ended September 30, 1997.

SIGNATURES OF REGISTRANT AND DIRECTORS

Pursuant to the requirements of Section 13 or 15(d) of the Securities 
Exchange Act of 1934, the registrant has duly caused this report to be 
signed on its behalf by the undersigned, thereunto duly authorized.

					LANDAUER, INC.
December 18, 1997

By:  /s/ Thomas M. Fulton
Thomas M. Fulton	
President and Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, 
this report has been signed below by the following persons on behalf of 
the registrant and in the capacities and on the dates indicated:

	Signature, Title, Date

	/s/ Thomas M. Fulton
	President and Director	
	December 18, 1997
	Thomas M. Fulton
	(Principal Executive Officer)

	/s/ James M. O'Connell
	Vice President, Finance
	December 18, 1997
	James M. O'Connell
	Treasurer and Secretary
	(Principal Financial and 
	Accounting Officer)

	/s/ Robert J. Cronin
	Director
	December 18, 1997
	Robert J. Cronin

	/s/ Gary D. Eppen
	Director
	December 18, 1997
	Gary D. Eppen

	/s/ Richard R. Risk
	Director
	December 18, 1997
	Richard R. Risk

	/s/ Paul B. Rosenberg
	Director
	December 18, 1997
	Paul B. Rosenberg

	/s/ Herbert Roth, Jr.
	Director
	December 18, 1997
	Herbert Roth, Jr.

	/s/ Marvin G. Schorr
	Director
	December 18, 1997
	Marvin G. Schorr

	/s/ Michael D. Winfield
	Director
	December 18, 1997
	Michael D. Winfield
<TABLE>
QUARTERLY FINANCIAL DATA (unaudited)

(dollars in thousands, except per share)
<CAPTION>
		First	Second	Third	Fourth	Total
		Quarter	Quarter	Quarter	Quarter	Year
		-------	-------	-------	-------	-----
<S>		<C>	<C>	<C>	<C>	<C>
Net revenues	1997	$ 9,147	$ 10,441	 $ 9,984	$ 10,342	$ 39,914
	1996	$ 8,686	$   9,492	 $ 9,010	$   9,328	$ 36,516
Operating income	1997	$ 3,918	$   4,638	 $ 4,063	$   4,836	$ 17,455
	1996	$ 3,621	$   4,202	 $ 3,821	$   4,194	$ 15,838
Net income	1997	$ 2,765	$   3,183	$ 2,860	$   3,211	$ 12,019
	1996	$ 2,506	$   2,902	$ 2,609	$   2,882	$ 10,899
Net income per share (a)	1997	$   .33	$     .37	$     .34	$     .38	$   1.42
	1996	$   .30	$     .34	$     .31	$     .34	$   1.29
Cash dividends per share 
  - regular 	1997	$   .30	$     .30	$    .30	$       .30	$   1.20
	1996	$.271/2	$  .271/2	$ .271/2	$    .271/2	$   1.10
Common stock price per share 	1997 high	$ 24.88	$   24.50	$ 23.88	$   26.38	$  26.38
	low	 19.25	 20.38	 20.13	 22.13	   19.25
	1996 high	$ 22.13	$ 21.50	$ 22.00	$   21.00	$  22.13
	low	 18.75	19.75	20.00	19.13	18.75
<FN>
(a)  Based upon a weighted average of 8,477,285 common shares outstanding for 1996 and the first two quarters of   
       1997; 8,482,285 for the third quarter of 1997; and 8,496,154 for the fourth quarter of 1997.
</TABLE>

DIRECTORS AND OFFICERS

Marvin G. Schorr 1,4
Chairman of the Board

Thomas M. Fulton 1 
President, Chief Executive
  Officer and Director

Gary D. Eppen 3,4
Director
    Ralph and Dorothy Keller
    Distinguished Service Professor of
    Operations Management
    Graduate School of Business 
    University of Chicago
    Chicago, Illinois

Robert J. Cronin 3,4
Director
    President and Chief 
    Executive Officer 
    Wallace Computer Services, Inc.
    Lisle, Illinois
    Information management products,
    services and solutions.

Richard R. Risk 2,3
Director
    President and Chief
    Executive Officer
    Advocate Health Care
    Oak Brook, Illinois
    Health care delivery organization.

Paul B. Rosenberg 1,2,3
Director
    President and Chief
    Executive Officer
    Tech/Ops Corporation
    Boston, Massachusetts
    Consulting firm

Herbert Roth, Jr. 2,3,4
Director
    Sherborn, Massachusetts
    Director of various corporations

Michael D. Winfield 2,3
Director
    President and Chief  
    Executive Officer
    UOP 
    DesPlaines, Illinois 
    Oil refining and petrochemical
    technology licensing company

Brent A. Latta 
Executive Vice President

James M. O'Connell
Vice President, Treasurer, Secretary
    and Chief Financial Officer 

R. Craig Yoder 
Vice President-Operations

CORPORATE INFORMATION
CORPORATE HEADQUARTERS

Landauer, Inc.
2 Science Road
Glenwood, IL  60425-1586
(708) 755-7000

SUBSIDIARIES

HomeBuyer's Preferred, Inc.
2 Science Road
Glenwood, IL  60425-1586

Nagase-Landauer, Ltd. (50%)
Tokyo, Japan

BRANCH OFFICES

197 Route 18 South
Turnpike Plaza, Suite 105
East Brunswick, NJ  08816

2250 E. Imperial Highway
Suite 322
El Segundo, CA  90245

12 Greenway Plaza
Suite 718
Houston, TX  77046

#12 North Oxford Business Centre
Lakesmere Close
Kidlington, Oxford OX5 1LG
United Kingdom

ANNUAL MEETING
The Landauer, Inc. Annual Meeting of Stockholders will be held at 4:00 
p.m. on Wednesday, February 4, 1998, at the DuPage Club, 1901 South 
Meyers Road, Oakbrook Terrace, Illinois.
1.	Executive Committee
2.	Audit Committee
3.	Compensation Committee
4.	Governance Committee

STOCKHOLDER INFORMATION

STOCK EXCHANGE LISTING
Common Stock
American Stock Exchange
Ticker Symbol:  LDR

Transfer Agent And Registrar
Common Stock
American Stock Transfer
New York, New York

INQUIRIES
Questions concerning stockholder records should be addressed to:

    Shareholder Services Division
    American Stock Transfer
    40 Wall Street
    New York, NY  10005
    (718) 921-8238

Corporate Counsel
Sidley & Austin
Chicago, Illinois

Independent Auditors
Arthur Andersen LLP
Chicago, Illinois

MAILING LIST
Landauer, Inc. maintains a mailing list to assure that financial 
reports and corporate announcements are received as timely as possible 
by stockholders whose shares are held in "street name" and others 
interested in the Company.  To have your name added to our mailing 
list, please send a brief note to:

    Shareholder Services
    Landauer, Inc.
    2 Science Road
    Glenwood, IL  60425-1586

The following are registered marks of Landauer, Inc.:
    TRIPLE I
    RADTRAK
    HOMEBUYER'S PREFERRED
    RADPRO