Baird Intermediate Municipal Bond Fund Achieves Top Ranking in Category for 2007

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According to Lipper, Baird Intermediate Municipal Bond Fund was ranked number 1 of 158 intermediate term municipal bond funds for the one year ended December 31, 2007. In addition, all of the Baird Bond Funds with track records of at least 5 years were ranked in the top 25% of their respective categories. Baird Intermediate Municipal Bond Fund is among five bond mutual funds managed by Baird Advisors, the fixed income asset management team of Baird, an employee-owned international financial services firm.

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Beyond having experienced management that can navigate trouble well, this fund's expense advantage provides it a meaningful and sustainable edge.

    Said Mary Ellen Stanek, Chief Investment Officer and President of Baird Funds, "It is gratifying to see the consistency of investment results across the fund group. Our team uses a risk-controlled investment process that has delivered excellent results for our customers over the 24 years our team has been together."

In a recent report on Baird Aggregate Bond Fund, Morningstar said, "Beyond having experienced management that can navigate trouble well, this fund's expense advantage provides it a meaningful and sustainable edge." To read the full report, click here.

About Baird Advisors and Baird Funds

Baird Advisors, Baird's fixed income investment management team, manages more than $13.5 billion for institutional clients and high-net-worth individuals. This seasoned team of professionals has been together since 1983 and has a national reputation as a highly regarded fixed income manager. As of December 31, both Baird Aggregate Bond Fund and Baird Core Plus Bond Fund received overall Morningstar ratings of five stars. The group also offers several other Baird Bond Funds to provide its disciplined portfolio management approach to a wider client base. For more information, visit http://www.bairdadvisors.com.

About Baird

Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,200 associates serving the needs of individual, corporate, institutional and municipal clients. Baird oversees and manages client assets of nearly $78 billion. Committed to being a great place to work, Baird was recognized as one of the FORTUNE 100 Best Companies to Work For(R) in 2004, 2005, 2006 and 2007. Baird's principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird's private equity operations. For more information, please visit Baird's Web site at http://www.rwbaird.com.

(1)Information as of 12/31/07

The Baird Aggregate Bond Fund Institutional Class received 4 stars for the 3-year period among 967 intermediate term bond funds and 5 stars for the 5-year period among 826 intermediate term bond funds. The Core Plus Bond Fund Institutional Class received 5 stars for the 3-year period among 967 intermediate term bond funds and 5 stars for the 5-year period among 826 intermediate term bond funds. The Intermediate Bond Fund Institutional Class received 4 stars for the 3-year period among 967 intermediate term bond funds and 4 stars for the 5-year period among 826 intermediate term bond funds. The Short-Term Bond Fund Institutional Class received 5 stars for the 3-year period among 374 short- term bond funds. The Intermediate Municipal Bond Fund Institutional Class received 4 stars for the 3-year period among 244 muni national intermediate term bond funds and 4 stars for the 5-year period among 220 muni national intermediate term bond funds.

The overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with a fund's three-, five- and ten-year (if applicable) Morningstar Rating metrics.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk- Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars and the bottom 10% receive one star. Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages. Past performance is no guarantee of future results.

Lipper rankings are based on average annual total returns for the 1,3,5, 10-year/life periods for each respective Lipper category. Each fund is ranked based on average annual total returns assuming reinvestment of dividends and capital gains, distributions, at net asset value and the deduction of all fund expenses. Past performance is not guarantee of future results.

Investors should consider the investment objectives, risks, charges and expenses of each fund carefully before investing. This and other information is found in the prospectus. For a prospectus and application, contact Baird Funds directly at 800-444-9102, at http://www.bairdfunds.com, via e-mail, or contact your Baird Financial Advisor. Please read the prospectus carefully before investing.

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Jody Lowe
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