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SIGNATURE THOMAS G. PLUMB
TITLE PRESIDENT
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<ACCUMULATED-NII-PRIOR> 261
<ACCUMULATED-GAINS-PRIOR> 3478
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 358
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 548
<AVERAGE-NET-ASSETS> 42007
<PER-SHARE-NAV-BEGIN> 18.16
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> 1.65
<PER-SHARE-DIVIDEND> (0.13)
<PER-SHARE-DISTRIBUTIONS> (1.71)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.16
<EXPENSE-RATIO> 1.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795264
<NAME> THOMPSON PLUMB FUNDS, INC.
<SERIES>
<NUMBER> 2
<NAME> THOMPSON PLUMB BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 30658
<INVESTMENTS-AT-VALUE> 32228
<RECEIVABLES> 478
<ASSETS-OTHER> 5
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 32711
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 38
<TOTAL-LIABILITIES> 38
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30903
<SHARES-COMMON-STOCK> 2990
<SHARES-COMMON-PRIOR> 3050
<ACCUMULATED-NII-CURRENT> 419
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (219)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1570
<NET-ASSETS> 32673
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2022
<OTHER-INCOME> 0
<EXPENSES-NET> 331
<NET-INVESTMENT-INCOME> 1691
<REALIZED-GAINS-CURRENT> 162
<APPREC-INCREASE-CURRENT> 1045
<NET-CHANGE-FROM-OPS> 2898
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1688)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 576
<NUMBER-OF-SHARES-REDEEMED> (789)
<SHARES-REINVESTED> 153
<NET-CHANGE-IN-ASSETS> 536
<ACCUMULATED-NII-PRIOR> 416
<ACCUMULATED-GAINS-PRIOR> (381)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 344
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<PER-SHARE-NAV-BEGIN> 10.54
<PER-SHARE-NII> 0.56
<PER-SHARE-GAIN-APPREC> 0.39
<PER-SHARE-DIVIDEND> (0.56)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.93
<EXPENSE-RATIO> 1.04
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795264
<NAME> THOMPSON PLUMB FUNDS, INC.
<SERIES>
<NUMBER> 3
<NAME> THOMPSON PLUMB GROWTH FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 56456
<INVESTMENTS-AT-VALUE> 68538
<RECEIVABLES> 51
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 68597
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 91
<TOTAL-LIABILITIES> 91
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50706
<SHARES-COMMON-STOCK> 1677
<SHARES-COMMON-PRIOR> 1153
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5718
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 12082
<NET-ASSETS> 68506
<DIVIDEND-INCOME> 685
<INTEREST-INCOME> 33
<OTHER-INCOME> 0
<EXPENSES-NET> 827
<NET-INVESTMENT-INCOME> (109)
<REALIZED-GAINS-CURRENT> 5836
<APPREC-INCREASE-CURRENT> 1206
<NET-CHANGE-FROM-OPS> 6933
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (3968)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 629
<NUMBER-OF-SHARES-REDEEMED> (216)
<SHARES-REINVESTED> 111
<NET-CHANGE-IN-ASSETS> 23130
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3959
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 581
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 827
<AVERAGE-NET-ASSETS> 58747
<PER-SHARE-NAV-BEGIN> 39.36
<PER-SHARE-NII> (0.07)
<PER-SHARE-GAIN-APPREC> 4.92
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (3.36)
<RETURNS-OF-CAPITAL> 0
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<EXPENSE-RATIO> 1.41
<AVG-DEBT-OUTSTANDING> 0
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</TABLE>
To the Board of Directors of
of Thompson Plumb Funds, Inc.
In planning and performing our audit of the financial statements of
Thompson Plumb Balanced Fund, Thompson Plumb Bond Fund, and
Thompson Plumb Growth Fund (constituting the Thompson Plumb
Funds, Inc. hereafter referred to as the "Funds") for the year
ended November 30, 1998, we considered its internal control
structure, including procedures for safeguarding securities,
in order to determine our auditing procedures for the purposes
of expressing our opinion on the financial statements and to
comply with the requirements of Form N-SAR, and not to provide
assurance on the internal control structure.
The management of the Fund is responsible for establishing
and maintaining an internal control structure. In fulfilling
this responsibility, estimates and judgments by management
are required to assess the expected benefits and related
costs of internal control structure policies and procedures.
Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance
that assets are appropriately safeguarded against loss from
unauthorized use or disposition and that transactions are
executed in accordance with management's authorization and
recorded properly to permit preparation of financial
statements in conformity with generally accepted accounting
principles.
Because of inherent limitations in any internal control
structure, errors or irregularities may occur and may not
be detected. Also, projection of any evaluation of the
structure to future periods is subject to the risk that
it may become inadequate because of changes in conditions
or that the effectiveness of the design and operation
may deteriorate.
Our consideration of the internal control structure would
not necessarily disclose all matters in the internal control
structure that might be material weaknesses under standards
established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which
the design or operation of the specific internal control
structure elements does not reduce to a relatively low
level the risk that errors or irregularities in amounts
that would be material in relation to the financial
statements being audited may occur and not be detected
within a timely period by employees in the normal course
of performing their assigned functions. However, we
noted no matters involving the internal control structure,
including procedures for safeguarding securities, that
we consider to be material weaknesses as defined above
as of November 30, 1998.
This report is intended solely for the information and
use of management and the Securities and Exchange Commission.
PRICEWATERHOUSECOOPERS LLP
January 22, 1999
