The PrivateBank Opens Offices in Denver and Des Moines

In addition, the Bank said that Darren L. Lemkau and Nate Palmer have joined The PrivateBank's newDenver office. Lemkau was named managing director and head of theDenver office, while Palmer was named associate managing director. Both were previously with LaSalle Bank N.A.'s regional office inDenver. The PrivateBank office is located at 4600 Syracuse, in Denver.

The Bank also announced that two experienced bankers from LaSalle Bank's Des Moines regional office, Donald J. Coffin and Kimberly A. Butler, have joined The PrivateBank's newDes Moines office. Coffin was named managing director and head of theDes Moines office and Ms. Butler was named managing director. The PrivateBank office is located at 4601 Westown Parkway, inDes Moines.

"The opening of ourDenver andDes Moines commercial business development offices will allow us to better pursue opportunities for growth among our targeted clients. The PrivateBank's unique business model and philosophy of serving clients, implemented by these proven, experienced bankers with longstanding developed relationships in the Plains and Mountain states, will enable us to quickly establish The PrivateBank in these regions," said Bruce R. Hague, president, national commercial banking, The Private Bank -Chicago.

"By leveraging off the infrastructure of ourChicago bank, we anticipate these offices quickly becoming productive and helping to drive future balance sheet and revenue growth," added Hague.

Lemkau previously served as senior vice president/division head and regional manager for LaSalle Bank inDenver. He started his banking career in 1990 with the former American National Bank and Trust Company,Chicago (now JP Morgan Chase). He completed American National's management and commercial banking training programs, and eventually became a commercial banking relationship manager. He joined LaSalle Bank in 1997 as vice president and relationship manager. In 2003, he opened theDenver regional office for LaSalle. Lemkau received his BS and MBA from the University of Iowa,Iowa City, IA. Lemkau serves on the Denver Metro Volunteers Board of Directors. He resides with his family inHighlands Ranch, CO.

Palmer previously served as first vice president and relationship manager for LaSalle Bank inDenver. He joinedLaSalle in 2000, first serving as a credit analyst before becoming a loan officer. He relocated toDenver in 2003 to support the opening ofLaSalle's office. Palmer received his BS in Marketing from the University of Wisconsin, Madison. He resides inDenver, CO.

Coffin previously served as senior vice president and regional head inDes Moines for LaSalle Bank. He started his career in 1983, with the National Bank ofWaterloo, IA. In 1991, he joined Mercantile Bank (now US Bank),Des Moines, where he was named executive vice president responsible for all lending activities. He joinedLaSalle in 1999. Coffin earned his BA in financial management from the University of Northern Iowa. Active in civic and charitable affairs, Coffin is incoming chairman and a member of the board of directors of Easter Seals ofIowa. He also serves on the boards of directors of Blank Children's Hospital, Des Moines Symphony Academy, Iowa Business Growth and the Greater Des Moines Partnership. He and his family reside inWest Des Moines, IA.

Ms. Butler has over 20 years of commercial banking and relationship development experience in theDes Moines market, most recently serving as senior vice president and deputy division head forLaSalle's regional office inDes Moines. Her prior experience includes stints at the former Norwest Bank (now Wells Fargo) and the former Hawkeye Bank (now US Bank). Prior to joiningLaSalle in 2001, she served as senior vice president for US Bank, establishing aDes Moines commercial loan production office for that institution. Ms. Butler is a cum laude graduate of Central College, Pella, IA. Active in civic and charitable affairs, she serves as president of the board of director of the Boys & Girls Clubs ofCentral Iowa, and a member of United Way ofCentral Iowa, March of Dimes, and Variety Club. She serves as treasurer of the Consortium Business Breakfast Club. Ms. Butler resides in Urbandale, IA.

About PrivateBancorp, Inc.

PrivateBancorp, Inc., through its PrivateBank subsidiaries, provides distinctive, highly personalized, premium financial services to a growing array of successful middle market privately held and public businesses, affluent individuals, wealthy families, professionals, entrepreneurs and real estate investors. Through a team of highly qualified managing directors, The PrivateBank delivers a sophisticated suite of tailored credit, treasury and wealth management solutions to meet its clients' personal and commercial financial needs. The Company, which had assets of $5.0 billion as of December 31, 2007, has 22 offices located in theAtlanta,Chicago,Cleveland, Denver,Des Moines,Detroit,Milwaukee,Minneapolis,St. Louis, andKansas City metropolitan areas.

Additional information can be found in the Investor Relations section of PrivateBancorp, Inc.'s website at http://www.pvtb.com.

Forward-Looking Statements: Statements contained in this news release that are not historical facts may constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations and future prospects of the Company include, but are not limited to, fluctuations in market rates of interest and loan and deposit pricing in the Company's market areas, the effect of continued margin pressure on the Company's earnings, further deterioration in asset quality, insufficient liquidity/funding sources or the inability to obtain on terms acceptable to the Company the funding necessary to fund its loan growth, legislative or regulatory changes, adverse developments in the Company's loan or investment portfolios, slower than anticipated growth of the Company's business or unanticipated business declines, competition, unforeseen difficulties in integrating new hires, failure to improve operating efficiencies through expense controls, and the possible dilutive effect of potential acquisitions, expansion or future capital raises. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company assumes no obligation to update publicly any of these statements in light of future events unless required under the federal securities laws.

SOURCE The PrivateBank

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