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                            OLD SECOND BANCORP, INC.

Traded: NASDAQ NMS
Symbol: OSBC


                              FOR IMMEDIATE RELEASE
                                DECEMBER 28, 2001

For additional information contact:
     Doug Cheatham, Sr. Vice President and CFO
     (630) 906-5484


                                  PRESS RELEASE

The Company reported today that a dividend notice filed on December 19, 2001,
with the Nasdaq erroneously reported that the board had declared a fourth
quarter dividend of $0.25 per share. The notice should have stated the fourth
quarter dividend as $0.20 per share, which is consistent with the Company's past
dividend history. The $0.20 per share dividend is payable on January 10, 2002,
to stockholders of record as of December 28, 2001.


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Forward Looking Statements: This release may contain forward looking statements.
Forward looking statements are identifiable by the inclusion of such
qualifications as expects, intends, believes, may, likely or other indications
that the particular statements are not based upon facts but are rather based
upon the company's beliefs as of the date of this release. Actual events and
results may differ significantly from those described in such forward looking
statements, due to changes in the economy, interest rates or other factors. For
additional information about these factors, please review our filings with the
Securities and Exchange Commission.