PRESS RELEASE

FOR IMMEDIATE RELEASE                                                   Contact:
November 2, 2004                                                  Todd A. Gipple
                                                        Executive Vice President
                                                         Chief Financial Officer
                                                                   (309)743-7745



                               QCR Holdings, Inc.
                            Announces a Cash Dividend

QCR Holdings,  Inc.  (Nasdaq  SmallCap/QCRH)  today announced that the Company's
board of  directors  declared  a cash  dividend  of $0.04 per share  payable  on
January 7, 2005, to  stockholders  of record on December 24, 2004. This dividend
rate is a  reflection  of the  number of shares  outstanding  after the  3-for-2
split, which occurred on May 28, 2004.

QCR Holdings,  Inc.,  headquartered in Moline, Illinois, is a multi-bank holding
company,  which serves the Quad City, Cedar Rapids, and Rockford communities via
its wholly owned subsidiary  banks.  Quad City Bank and Trust Company,  which is
based in  Bettendorf,  Iowa and commenced  operations in 1994,  and Cedar Rapids
Bank and  Trust  Company,  which is based in Cedar  Rapids,  Iowa and  commenced
operations in 2001,  provide  full-service  commercial and consumer  banking and
trust and asset  management  services.  The Company  also engages in credit card
processing through its wholly owned subsidiary,  Quad City Bancard,  Inc., based
in Moline, Illinois.

Special Note Concerning Forward-Looking  Statements. This document contains, and
future  oral and  written  statements  of the  Company  and its  management  may
contain, forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 with respect to the financial  condition,  results
of  operations,  plans,  objectives,  future  performance  and  business  of the
Company.   Forward-looking   statements,   which  may  be  based  upon  beliefs,
expectations  and  assumptions  of the Company's  management  and on information
currently  available to  management,  are generally  identifiable  by the use of
words such as "believe," "expect," "anticipate," "predict," "suggest," "appear,"
"plan," "intend," "estimate," "may," "will," "would," "could," "should" or other
similar expressions.  Additionally,  all statements in this document,  including
forward-looking  statements,  speak  only as of the date they are made,  and the
Company  undertakes  no  obligation  to  update  any  statement  in light of new
information or future events.

A number of  factors,  many of which are  beyond the  ability of the  Company to
control or predict,  could cause actual results to differ  materially from those
in its  forward-looking  statements.  These factors include,  among others,  the
following: (i) the strength of the local and national economy; (ii) the economic
impact of September 11th;  (iii) changes in state and federal laws,  regulations
and  governmental  policies  concerning  the Company's  general  business;  (iv)
changes in interest  rates and  prepayment  rates of the Company's  assets;  (v)
increased  competition  in the  financial  services  sector and the inability to
attract new customers; (vi) changes in technology and the ability to develop and
maintain  secure  and  reliable  electronic  systems;  (vii)  the  loss  of  key
executives or employees;  (viii) changes in consumer  spending;  (ix) unexpected
results of acquisitions;  (x) unexpected  outcomes of existing or new litigation
involving the Company;  and (xi) changes in accounting  policies and  practices.
These risks and uncertainties should be considered in evaluating forward-looking
statements  and  undue  reliance  should  not  be  placed  on  such  statements.
Additional  information  concerning  the  Company  and its  business,  including
additional factors that could materially affect the Company's financial results,
is  included  in  the  Company's   filings  with  the  Securities  and  Exchange
Commission.


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