PrivateBancorp (PVTB) 8-K Declares quarterly cash dividend

Exhibit 99.1

For further information contact:

Dennis Klaeser, CFO

PrivateBancorp, Inc.

312-683-7100

FOR IMMEDIATE RELEASE

PrivateBancorp, Inc. (Nasdaq:PVTB)

Declares quarterly cash dividend

Chicago, November 20, 2006 … PrivateBancorp, Inc. announced that its board of directors declared a quarterly cash dividend of $0.06 per share payable on December 29, 2006 to stockholders of record on December 15, 2006. This dividend is unchanged from the prior quarterly dividend of $0.06 per share.