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First Midwest Bancorp Declares Second Quarter Dividend

    ITASCA, Ill., May 21 /PRNewswire-FirstCall/ --
First Midwest Bancorp, Inc. (Nasdaq: FMBI) today announced the declaration of
a quarterly cash dividend on its common stock of $0.19 per share.  The new
quarterly cash dividend will be payable on July 22, 2003 to stockholders of
record as of the close of business on June 27, 2003 and represents the 82nd
consecutive quarterly dividend distribution since the Company's formation in
1983.
    First Midwest is the premier relationship-based banking franchise in the
wealthy and growing suburban Chicago banking markets.  As the largest
independent bank holding company and one of the overall largest banking
companies in the Chicago metropolitan area, First Midwest provides the full
range of both business and retail banking, trust and investment management
services through 70 offices located in more than 40 communities, primarily in
northern Illinois.


SOURCE First Midwest Bancorp, Inc.




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    CONTACT:
    Steven H. Shapiro of First Midwest Bancorp,
    Inc., +1-630-875-7345