Mairs & Power Mutual Funds Announce Co‐Portfolio Manager and Officer Changes St. Paul, Minnesota ‐ January 1, 2015: Mairs and Power, an independent, employee owned investment advisory firm, is pleased to announce new co‐managers and a new President of its three no‐load mutual funds – the Mairs & Power Growth Fund (MPGFX), Balanced Fund (MAPOX) and Small Cap Fund (MSCFX), effective January 1. Andrew Adams joins lead manager Mark Henneman as co‐manager of the Growth Fund; Kevin Earley joins lead manager Ronald Kaliebe as co‐manager of the Balanced Fund and Allen Steinkopf joins lead manager Andrew Adams as co‐manager of the Small Cap Fund. Mark Henneman has been appointed President of the Mairs & Power Funds Trust (Trust). These executive changes culminate a long‐term succession plan which began several years ago in anticipation of William Frels mandatory retirement on December 31, 2014 as co‐manager of the Growth and Balanced Funds and Trustee and President of the Trust. In 2006, Mr. Henneman and Mr. Kaliebe were named co‐managers of the Growth Fund and Balanced Fund respectively and moved into lead manager positions of those funds in 2013. The conservative, long‐term investment management approach of both the Growth Fund and the Balanced Fund will remain unchanged. “Succession planning is a natural component of Mairs & Power’s long‐term focus,” said Jon A. Theobald, Chairman and C.E.O. of Mairs and Power, Inc. “As the oldest investment firm under continuous private ownership and management in Minnesota, we employ a deliberate and disciplined succession planning process to ensure consistency in our investment philosophy over time while providing growth and development opportunities for our investment professionals. All the individuals assuming new roles at our Funds have been groomed for these added responsibilities.” Andrew Adams joined Mairs and Power, Inc. in 2006 as Vice President and Investment Manager. Mr. Adams was appointed manager of the new Mairs & Power Small Cap Fund which launched in August of 2011. He will continue as lead portfolio manager of the Small Cap Fund, and now joins veteran fund manager Mark Henneman as co‐portfolio manager of the Growth Fund. Mr. Adams began his investment management career in 1997 as a securities analyst with Advantus Capital Management. Prior to joining Mairs & Power he co‐managed the small‐cap blend mutual fund at U.S. Bancorp Asset Management (now Nuveen Asset Management). Kevin Earley joined Mairs and Power, Inc. in 2013 as Vice President, Equity Analyst and Investment Manager. He joins veteran fund manager Ronald Kaliebe as co‐portfolio manager of the Balanced Fund. Mr. Earley began his investment management career as an equity analyst with FAF Advisors in 1997, later becoming a portfolio manager as part of the firm’s mid‐to‐large cap value team. Prior to joining Mairs & Power, Mr. Earley co‐managed two mutual funds at Nuveen Asset Management. Allen Steinkopf joined Mairs and Power, Inc. in September 2013 as Vice President and Investment Manager. He joins veteran fund manager Andrew Adams as co‐portfolio manager of the Small Cap Fund. Mr. Steinkopf began his investment management career as a research analyst with MIMLIC Asset Management in 1993 before assuming increasing responsibility as portfolio manager and senior analyst at Advantus. Prior to joining Mairs & Power, he most recently was senior portfolio manager of small cap equity and directly managed a small cap core mutual fund at Nuveen Asset Management. Mr. Henneman joined Mairs & Power in 2004 as Vice President and Investment Manager. In 2006 he was named co‐manager of the Growth Fund and in 2013 he became lead manager of the Fund. Mr. Henneman began his investment management career as an analyst with The St. Paul Companies (now Travelers Companies). He has worked as a portfolio manager with Advantus Capital Management and prior to joining Mairs and Power, Inc., he was Managing Director and Process Leader of mid‐ and large‐cap value Investments at U.S. Bancorp Asset Management (now Nuveen Asset Management). The Board of Trustees has nominated James D. Alt and Patrick A. Thiele to serve as Trustees of the Trust, subject to approval by shareholders of the Trust at a special meeting to be held in the second quarter of 2015. Current Trustees Norbert J. Conzemius, Bert J. McKasy, Mary Schmid Daugherty and Jon A. Theobald will be up for re‐election. As of December 31, 2014, the Mairs & Power Growth Fund (MPGFX) held $4.2 billion in assets under management, the Balanced Fund (MAPOX) held $723 million in assets under management and the Small Cap Fund (MSCFX) held $162 million in assets under management. About Mairs & Power Established in 1931, Mairs and Power is an independent, employee owned investment advisory firm with a commitment to pursuing long‐term growth. Our mutual funds and individually managed accounts are built on the strength and success of carefully selected, quality growth stocks. One of the cornerstones of the firm’s equity approach is a regional strategy with a heavy representation in stocks of companies headquartered in the Upper Midwest. For more information, please visit our website www.mairsandpower.com. The Funds’ investment objectives, risks, charges and expenses must be considered carefully before investing. The summary prospectuses or full prospectus contain this and other important information about the Funds, and they may be obtained by calling Shareholder Services at (800) 304‐7404, or by visiting www.mairsandpower.com. Read the summary prospectuses or full prospectus carefully before investing. All investments have risks. The Funds are designed for long‐term investors. The Funds’ share prices can fall because of weakness in the broad market, a particular industry, or specific holdings. Investments in small and midcap companies generally are more volatile. International investing risks include, among others, political, social or economic instability, difficulty in predicting international trade patterns, taxation and foreign trading practices, and greater fluctuations in price than United States corporations. The Balanced Fund is subject to yield and share price variances with changes in interest rates and market conditions. Investors should note that if interest rates rise significantly from current levels, bond fund total returns will decline and may even turn negative in the short‐term. There is also a chance that some of the Fund’s holdings may have their credit ratings downgraded or may default. ALPS Distributors, Inc. is the Distributor for the Mairs & Power Funds. Contact: Scott Howard Vice President, Mutual Funds Scott Howard is a Registered Representative of ALPS Distributors, Inc. Phone: 651‐294‐8309 Email: showard@mairsandpower.com Web: http://www.mairsandpower.com/ MNP000461 1/6/2016