PEOPLES BANCORP INC. - P.O. BOX 738 - MARIETTA, OH  45750
                                                          www.peoplesbancorp.com


                                  NEWS RELEASE



FOR IMMEDIATE RELEASE            Contact: John W. Conlon
---------------------                     Chief Financial Officer
November 9, 2001                          (740) 373-3155



                            PEOPLES BANCORP DECLARES
                            FOURTH QUARTER DIVIDEND;
                      AUTHORIZES REPURCHASE OF COMMON STOCK
                  --------------------------------------------

         MARIETTA, Ohio - The Board of Directors of Peoples Bancorp Inc.
(Nasdaq: PEBO) yesterday declared a quarterly dividend of $0.15 per share.
         The fourth quarter dividend payout of approximately $1.1 million on an
estimated 7.1 million shares is payable January 2, 2002, to shareholders of
record at December 14, 2001.
         Peoples' Board of Directors also adopted a resolution authorizing the
repurchase of up to 175,000 shares (or approximately 2.5% of the Company's
outstanding common shares) from time to time in open market or privately
negotiated transactions. The timing of the purchases and the actual number of
common shares purchased will depend on market conditions. This stock repurchase
program will be implemented at the Company's discretion and will expire December
31, 2002.
         Peoples Bancorp Inc., a diversified financial products and services
company with $1.2 billion in assets, offers a complete line of banking,
investment, insurance, and trust solutions through Peoples Bank's 40 sales
offices and 25 ATM's in Ohio, West Virginia, and Kentucky. Peoples' common stock
is traded on the NASDAQ exchange under the symbol "PEBO." Learn more about
Peoples or enroll in Peoples OnLine Connection, Peoples' Internet banking
product, at www.peoplesbancorp.com.

                                 END OF RELEASE