First Midwest Bancorp Increases Quarterly Cash Dividend 9% to $0.24 Per Share

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First Midwest Bancorp Increases Quarterly Cash Dividend 9% to $0.24 Per Share

    ITASCA, Ill., Nov. 17 /PRNewswire-FirstCall/ -- First Midwest Bancorp,
Inc. (Nasdaq: FMBI) today announced an increase in the quarterly cash dividend
on its common stock.  The new quarterly cash dividend of $0.24 per share is an
increase of 9% from the previous quarterly dividend of $0.22.  The dividend
will be payable on January 18, 2005 to First Midwest stockholders of record as
of the close of business on December 23, 2004 and represents First Midwest's
88th consecutive quarterly dividend distribution since its formation in 1983.
    "We are pleased to be able to announce this dividend increase, the
thirteenth increase that First Midwest has declared in the past twelve years."
said John M. O'Meara, President and Chief Executive Officer of First Midwest.
"This dividend increase reflects First Midwest's continued profitability."
    First Midwest is the premier relationship-based banking franchise in the
growing Chicagoland banking markets.  As one of the Chicago metropolitan
area's largest independent bank holding companies, First Midwest provides the
full range of both business and retail banking and trust and investment
management services through 67 offices located in 49 communities, primarily in
northeastern Illinois.  First Midwest is the 2004 recipient of the Illinois
Bank Community Service Award and has been honored by Chicago magazine in its
September, 2004 issue as one of the 25 best places to work in Chicago.

SOURCE First Midwest Bancorp, Inc.

http://www.firstmidwest.com
CONTACT:
Steven H. Shapiro of First Midwest Bancorp,
Inc., +1-630-875-7345