PrivateBancorp (PVTB) 8-K Regulation FD Disclosure

Exhibit 99.1

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Amy Yuhn

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312-564-1378

ayuhn@theprivatebank.com

For Immediate Release

PrivateBancorp Declares Quarterly Cash Dividend

CHICAGO, December 4, 2009 -- PrivateBancorp, Inc. (NASDAQ: PVTB) announced today its board of directors declared a quarterly cash dividend of $0.01 per share for the fourth quarter 2009 payable on December 31, 2009, to stockholders of record on December 17, 2009. This dividend is unchanged from the prior quarterly dividend of $0.01 per share.