PEOPLES BANCORP INC. - P.O. BOX 738 - MARIETTA, OHIO - 45750
                                                          www.peoplesbancorp.com



FOR IMMEDIATE RELEASE                  Contact: Mark F. Bradley
- ---------------------                           Chief Operating Officer
April 8, 2004                                   (740) 373-3155

                  PEOPLES BANCORP TO ACQUIRE THE PUTNAM AGENCY
              -----------------------------------------------------

          MARIETTA, Ohio - Peoples Bancorp Inc. (Nasdaq: PEBO) announced today
the signing of a definitive agreement by its insurance subsidiary, Peoples
Insurance Agency, Inc., to acquire Putnam Agency, Inc., a full-service insurance
agency that offers a wide range of property and casualty, life, and health
insurance to both commercial and individual clients.
         With offices located in Ashland, Kentucky and Huntington, West
Virginia, the Putnam Agency has provided insurance services to clients since
1904. The proposed transaction includes the right to use the company's name
("Putnam Agency"), which will operate as a division of Peoples Insurance Agency.
The acquisition is consistent with Peoples Bancorp's strategy of diversifying
its business mix into financial services that complement core banking
operations.
         "We look forward to joining forces with the Putnam Agency," said Mark
F. Bradley, Peoples Bancorp's Chief Operating Officer. "We have been looking to
expand our insurance operations, and the Putnam Agency will bring strong,
professional sales expertise to our existing agency portfolio. In addition,
Putnam's impressive list of insurance carriers will enhance our ability to
further penetrate our existing client base."
         In 2003, the Putnam Agency had total revenues exceeding $4 million. All
employees of the Putnam Agency, including key management and producers, will
become employees and assume active leadership roles in the new organization.
         "Our companies share the same core values: a commitment to client
service and a 100-year commitment to the community," stated Thomas C. Phipps,
President of the Putnam Agency. "We have achieved our success with community
minded employees, and I am pleased that our dedicated staff of professionals
will remain with the agency to continue our long tradition of good service and
growth in our markets."
         In the transaction, Peoples Insurance Agency will use a mix of cash and
Peoples Bancorp stock to purchase substantially all of the assets and assume
some of the liabilities of the Putnam Agency. The acquisition is expected to be
completed on or about April 30, 2004.
         "In addition to traditional banking and wealth management services,
insurance continues to be one of the key elements in our solutions-based
approach to meeting customer needs," said Bradley. "We remain focused on
opportunities to grow our company through businesses that complement our
delivery model and geographic footprint."
         Peoples Bancorp Inc., a diversified financial products and services
company with $1.7 billion in assets, makes available a complete line of banking,
investment, insurance, and trust solutions through Peoples Bank's 49 locations
and 32 ATMs in Ohio, West Virginia, and Kentucky. Peoples Bancorp's common
shares are traded on the NASDAQ national market under the symbol "PEBO." Peoples
Bancorp is a member of the Russell 3000 index of US publicly traded companies.
Learn more about Peoples Bancorp at www.peoplesbancorp.com.

Forward-looking Statement
This press release contains certain forward-looking statements, within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175
promulgated there under, and Section 21E of the Securities Exchange Act of 1934,
as amended, and Rule 3b-6 under the Securities Exchange Act, including certain
plans, expectations, goals, and projections, about the benefits to Peoples
Bancorp of Peoples Insurance Agency's acquisition of the Putnam Agency. These
forward-looking statements are subject to numerous assumptions, risks, and
uncertainties. Actual results could differ materially from those contained or
implied by such statements for a variety of factors such as: the businesses of
Peoples Insurance Agency and the Putnam Agency may not be integrated
successfully or such integration may take longer to accomplish than expected;
the expected synergies from the acquisition may not be fully realized within the
expected timeframes; disruption from the merger may make it more difficult to
maintain relationships with clients, associates, or suppliers; the required
approvals of the merger may not be obtained on the proposed terms and schedule;
and other factors described in Peoples Bancorp's 2003 Annual Report on Form 10-K
as filed with the Securities and Exchange Commission. All forward-looking
statements included in this news release are based on information available at
the time of the release. Neither Peoples Bancorp nor the Putnam Agency assumes
any obligation to update any forward-looking statement.

                                 END OF RELEASE