Robert W. Baird & Co.: Baird Research Analysts Honored By The Wall Street Journal

For additional information contact:

Bob Venable, Research Director

414-765-3845

[email protected]”>
[email protected]

Baird also recognized on Forbes.com/StarMine list of best equity analysts

MILWAUKEE, May 22, 2006 – Research Analysts at Robert W. Baird & Co. (Baird) are well-represented in The Wall Street Journal’s “Best on the Street 2006 Analysts Survey” released May 22. Five Baird analysts won six “Best on the Street” awards. Those honored include three analysts who ranked first in their respective industry groups, one of whom is listed among the top analysts in two distinct industry sectors. Baird analysts were also recognized in the 2005 Forbes.com/StarMine list of best equity analysts released May 2.

“Best on the Street”

The Wall Street Journal’s “Best on the Street 2006 Analysts Survey” recognizes the top five analysts in 44 industry sectors, based on their performance during 2005. Analysts were selected for their recommendation-performance scores, which are based on the estimated return, including price changes and dividends, an investor would have achieved by following the analyst’s recommendations, and on the number of stocks the analyst covered in a particular industry.

“This recognition reflects Baird’s focus on fundamental research and underscores the emphasis we place on quality and objectivity,” said Bob Venable, Director of Research.

On the list for the first time, Research Analyst Reik Read ranked No. 1 out of 45 analysts in the Electronic & Electrical Equipment sector. In his second appearance on the survey, Research Analyst Michael Schneider ranked No.1 out of 44 analysts in the Heavy Machinery & Materials sector and was also recognized among the top five in the Electronic & Electrical Equipment sector. Research Analyst Aaron Geist ranked No. 1 out of 72 analysts in the Medical Equipment sector in his second consecutive appearance on the list. Research Analyst Eric Coldwell was recognized among the top analysts in the Health-Care Providers sector in his first appearance on the list, and, for the second time, Research Analyst David Leiker was recognized among the top analysts in the Autos & Auto Parts sector.

In terms of the total number of analysts named “Best on the Street” Baird ranked 10th out of 72 research houses overall. Among the top 10 awarded firms, Baird ranked No. 1 in terms of the firm’s batting average, which is the number of awards received divided by the number of eligible analysts.

Baird Analysts recognized by Forbes.com, StarMine as Top Analysts

Eleven Baird analysts also received 14 awards in the 2005 Forbes.com/StarMine best equity analysts list. The May 2 report recognized the top three analysts in 53 industries based on an analysis of 2005 data that determined which research analysts’ stock picks realized the largest overall and industry-to-industry gains, and which analysts’ earnings estimates were the most accurate. Baird ranked third overall among firms with the most award-winning analysts in the United States.

Five Baird analysts recognized among the top three in their industries for their stock-picking skill include David Leiker, ranked No. 1 in Auto Components; David Manthey, ranked No. 1 in Trading Companies & Distributors; Reik Read, ranked No. 1 in Electronic Equipment & Instruments; Robert McCarthy in Machinery; and Michael Schneider in both the Electrical Equipment and Machinery industries.

Recognized among the top three in their industries for their accuracy in estimating earnings were David Cumberland in Multiline Retail; Jon Langenfeld in both the Air Freight & Logistics and Road & Rail industries; David Leiker in Auto Components; Craig Kennison in Automobiles for the second consecutive year; David Parker in Multi-Utilities; William Power in Wireless Telecommunication Services; and Trace Urdan in Diversified Consumer Services.

It is the third recognition on the list for Manthey, McCarthy, Power and Schneider, and the second for Kennison, Langenfeld, Leiker and Parker.

About Baird

Baird, established in 1919, is an employee-owned international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. 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.

Committed to being a great place to work, Baird is one of FORTUNE magazine’s “100 Best Companies to Work For” in 2006 and was also included on the magazine’s 2005 and 2004 lists. Robert W. Baird & Co. is a member of the New York Stock Exchange and other principal exchanges and the Securities Investor Protection Corporation (SIPC). Robert W. Baird Ltd. and Granville Baird Capital Partners Ltd. are authorized and regulated in the United Kingdom by the Financial Services Authority. For more information, please visit Baird’s Web site at http://www.rwbaird.com.