EXHIBIT 99.1
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                                                For further information contact:
                                                             Dennis Klaeser, CFO
                                                            PrivateBancorp, Inc.
                                                                    312-683-7100

FOR IMMEDIATE RELEASE

      WEBCAST OF PRIVATEBANCORP, INC.'S SECOND QUARTER 2003 CONFERENCE CALL
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         Chicago, July 9, 2003-- PrivateBancorp, Inc. (NASDAQ: PVTB) will
webcast live its quarterly conference call with financial analysts on July 21,
2003 at 10:00 a.m. Eastern time (9:00 a.m. Central Time). Access to the call
will be available via a link called "Second Quarter 2003 Earnings Call" on the
investor relations page of PrivateBancorp Inc.'s Internet site at
www.privatebankandtrust.com.

         The Company plans to release its second quarter 2003 earnings prior to
the opening of trading on July 21, 2003. The earnings release also will be
posted on the Company's website.

         The webcast and call will feature a brief discussion of the earnings
release. Parties accessing the webcast will be in a "listen-only" mode.

         Following the live webcast, an archived replay of the call will be
available on the PrivateBancorp, Inc. web site beginning approximately two hours
after the call ends. The replay will remain available until the third quarter
2003 earnings release is available.

         PrivateBancorp, Inc. was organized in 1989 to provide highly
personalized financial services primarily to affluent individuals,
professionals, owners of closely-held businesses and commercial real estate
investors. The Company operates two banking subsidiaries, The PrivateBank and
Trust Company and The PrivateBank (St. Louis). The PrivateBank and Trust Company
subsidiary has a controlling interest in a Chicago-based investment advisor,
Lodestar Investment Counsel LLC. The Company, which had assets of $1.6 billion
at March 31, 2003, currently has banking offices in Chicago, Wilmette, Oak
Brook, St. Charles, Lake Forest, Winnetka, and Geneva, Illinois, and in St.
Louis, Missouri.
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