EXHIBIT 99

NEWS RELEASE


FOR IMMEDIATE RELEASE         Contact:  John W. Conlon, Chief Financial Officer
- ---------------------                   (740) 373-3155
January 3, 2003


                       PEOPLES BANCORP INC. ANNOUNCES SALE
                   OF 216,000 COMMON SHARES FOR OVER-ALLOTMENT
                  --------------------------------------------

         MARIETTA, Ohio - Peoples Bancorp Inc. (Nasdaq: PEBO) today announced
that Sandler O'Neill & Partners, L.P., as representative of the underwriters of
Peoples Bancorp's common stock offering, has completed the exercise of their
option to purchase an additional 216,000 common shares of common stock from
Peoples Bancorp to cover over-allotments. The common shares were delivered to
the underwriters on January 3, 2003. Peoples Bancorp's common shares are listed
on the Nasdaq National Market under the symbol "PEBO."
         In other news, Peoples Bancorp also announced it will release 2002
corporate earnings on Tuesday, January 21, 2003, at approximately 1:00 pm, local
time. Peoples Bancorp will conduct a conference call to discuss operating
results and other relevant information on January 22, 2003, at 3:00 pm local
time. The conference call is open to the public; however, management asks that
questions be limited to investment analysts, interested members of the media,
and shareholders. Members of Peoples Bancorp's executive management will
participate in the call.
         Peoples Bancorp, a diversified financial products and services company
with $1.4 billion in assets, offers a complete line of banking, investment,
insurance, and trust solutions through Peoples Bank, National Association's 45
sales offices and 30 ATMs in Ohio, West Virginia, and Kentucky.
         This press release may contain forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995.

                                 END OF RELEASE