CONTACT: Donald J. Swistowicz FOR IMMEDIATE RELEASE (630) 875-7460 TRADED: NASDAQ/NMS SYMBOL: FMBI FIRST MIDWEST BANCORP ANNOUNCES SHARE REPURCHASES ITASCA, IL., NOVEMBER 13, 1996--First Midwest Bancorp, Inc. (NASDAQ/NMS:FMBI) today announced that it intends to repurchase up to 900,000 shares, or 6.6%, of its outstanding common stock. The shares will be purchased from time to time in the open market and/or through privately negotiated transactions. The Company also announced its intention to repurchase an additional number of shares that it anticipates issuing in the next approximate 12 months in conjunction with its stock option and employee benefit plans. These purchases will also be made from time to time in open market transactions. With assets of $3.1 billion, First Midwest is Illinois' third largest bank holding company providing commercial banking, trust, investment management and mortgage services in northern Illinois and eastern Iowa. # # #