First Midwest Bancorp Increases Quarterly Cash Dividend 16% to $0.22 Per Share

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First Midwest Bancorp Increases Quarterly Cash Dividend 16% to $0.22 Per Share

    ITASCA, Ill., Nov. 20 /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 $0.22 per share
increased 16% from the previous quarterly dividend of $0.19.  It is to be
payable on January 20, 2004 to stockholders of record as of the close of
business on December 26, 2003 and represents the 84th consecutive quarterly
dividend distribution since the Company's formation in 1983.
    "I am pleased to announce the twelfth increase in cash dividends that
First Midwest has declared in the past eleven years, which is due to the
continued solid performance of First Midwest this year," said John M. O'Meara,
President Chief Executive Officer of First Midwest.  "The increase in the
quarterly dividend results in a new annual dividend rate of $0.88 per share.
First Midwest has paid a dividend in every quarter since it was formed 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 approximately 70 offices located in more than 40 communities,
primarily in northern Illinois.

SOURCE First Midwest Bancorp, Inc.

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