Old National Bancorp Repurchases Warrant From U.S. Treasury

EVANSVILLE, Ind., May 11, 2009 (GLOBE NEWSWIRE) -- Old National Bancorp
(NYSE:ONB) announced today that it has repurchased the warrant to purchase
813,008 shares of common stock issued to the U.S. Department of Treasury on
December 12, 2008. The Company repurchased the warrant for $1,200,000.

On March 31, 2009, Old National Bancorp announced that it repurchased all of the
$100 million in preferred, non-voting stock that was sold to the Treasury
Department as part of the Capital Purchase Program (CPP) for healthy financial
institutions.

About Old National Bancorp

Old National Bancorp, celebrating its 175th anniversary in 2009, is the largest
financial services holding company headquartered in Indiana and, with $8.4
billion in assets, ranks among the top 100 banking companies in the United
States. Since its founding in Evansville in 1834, Old National has focused on
community banking by building long-term, highly valued partnerships with clients
in its primary footprint of Indiana, Illinois and Kentucky. In addition to
providing extensive services in retail and commercial banking, wealth
management, investments and brokerage, Old National also owns one of the largest
independent insurance agencies headquartered in Indiana, offering complete
personal and commercial insurance solutions. For more information and financial
data, please visit the Company's website at www.oldnational.com.

The Old National Bancorp logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=1872

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CONTACT: Old National Bancorp
Financial Community:
Lynell J. Walton
(812) 464-1366
Media Relations:
Kathy A. Schoettlin
(812) 465-7269