PrivateBancorp, Inc. Announces Closing of Partial Exercise of Underwriters' Over-Allotment...

PrivateBancorp, Inc. Announces Closing of Partial Exercise of Underwriters'
Over-Allotment Option

CHICAGO, June 19 /PRNewswire-FirstCall/ -- PrivateBancorp, Inc. (the
"Company") (Nasdaq: PVTB) today announced that the underwriters of its recent
public offering of common stock partially exercised their over-allotment
option and have purchased an additional 568,700 shares of newly issued common
stock. The sale of the over-allotment shares closed on June 19, 2008.
The Company granted to the underwriters an over-allotment option to
purchase up to 600,000 shares as part of its common stock offering, which
closed on June 11, 2008. The net proceeds from the offering, including the
exercise of the over-allotment option, will be approximately $149.1 million
after deducting underwriting commissions and will be used to fund the ongoing
execution of PrivateBancorp's Strategic Growth Plan and for other general
corporate purposes.
Keefe, Bruyette & Woods acted as sole book manager and Robert W. Baird &
Co. Incorporated was co-lead manager for the public offering. Co-managers were
William Blair & Company, L.L.C., and SunTrust Robinson Humphrey, Inc. The
shares of common stock in the offering were issued pursuant to a prospectus
supplement to the prospectus filed as a part of the Company's effective shelf-
registration statement on Form S-3 (File No. 333-150767).
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities nor shall there be any sale
of these securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About PrivateBancorp, Inc.
PrivateBancorp, Inc. is a growing diversified financial services company
with 22 offices in nine states and more than $6 billion in assets as of March
31, 2008. Through its subsidiaries, PrivateBancorp delivers customized
business and personal financial services to middle-market commercial and
commercial real estate companies, as well as business owners, executives,
entrepreneurs and wealthy families.
SOURCE PrivateBancorp, Inc.

Amy Yuhn, Director of Communications of PrivateBancorp, Inc., +1-312-564-1378,
ayuhn@theprivatebank.com