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 THIRD QUARTER 2003 CONFERENCE CALL
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         Chicago, September 24, 2003 -- PrivateBancorp, Inc. (NASDAQ: PVTB) will
webcast live its quarterly conference call with financial analysts on October
20, 2003 at 12:00 p.m. Eastern time (11:00 a.m. Central Time). Access to the
call will be available via a link called "Third Quarter 2003 Earnings Call" on
the investor relations page of PrivateBancorp Inc.'s Internet site at
www.privatebancorp.com.

         The Company plans to release its third quarter 2003 earnings prior to
the opening of trading on October 20, 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, followed by questions from professional investors invited to
participate in the interactive portion of the discussion. 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 fourth 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 $1.8 billion
at June 30, 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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