WINTRUST FINANCIAL CORPORATION
                727 NORTH BANK LANE, LAKE FOREST, ILLINOIS 60045

NEWS RELEASE
                                                                October 25, 2002
FOR IMMEDIATE RELEASE
CONTACT:
Edward J. Wehmer, President & CEO
David A. Dykstra, Senior Executive Vice President and Chief Operating Officer
(847) 615-4096
Website address: www.wintrust.com

      WINTRUST FINANCIAL CORPORATION ANNOUNCES PROMOTION OF DAVID L. STOEHR

          Edward J. Wehmer,  President and CEO of Wintrust Financial Corporation
(Nasdaq:  WTFC)  announces  the  promotion of David L. Stoehr to Executive  Vice
President and Chief Financial Officer.  Stoehr succeeds David A. Dykstra, Senior
Executive Vice  President and Chief  Operating  Officer,  who until now had also
served as the Company's Chief Financial Officer. Mr. Dykstra will continue on in
his role as Chief Operating Officer.

          "Dave Stoehr has been a real asset since coming to Wintrust in January
of this year," Mr. Wehmer commented. "We are pleased to promote him to Executive
Vice President and to award him the Chief  Financial  Officer  responsibilities.
This  will  also  allow  Dave  Dykstra  to  spend  more  time  relative  to  his
responsibilities as the Chief Operating Officer of the corporation."

          David Stoehr joined Wintrust as Senior Vice  President/Finance.  Prior
to that, Stoehr was a Senior Vice President/Reporting & Analysis at Firstar/U.S.
Bancorp and managed the finance  reporting teams at Firstar and U.S.  Bancorp in
Milwaukee,  WI.  Prior to that he served as  Director of  Finance/Controller  of
Associated  Banc-Corp  in Green  Bay,  WI.  Stoehr is a CPA,  CMA and CFM with a
bachelor's degree in accounting from the University of Wisconsin-Oshkosh  and an
MBA from the University of Wisconsin-Milwaukee.

          Wintrust is a $3.6 billion  multi-bank  holding  company  whose common
stock is traded on the  Nasdaq  Stock  Market(R).  It  operates  seven  suburban
Chicago community bank subsidiaries, each of which was founded as a de novo bank
since  December  1991.  Additionally,  the  Company  operates  various  non-bank
subsidiaries. First Insurance Funding Corporation, one of the largest commercial
insurance  premium  finance  companies  operating in the United  States,  serves
commercial loan customers throughout the country.  Wayne Hummer Trust Company, a
trust  subsidiary,  allows Wintrust to service  customers'  trust and investment
needs at each banking location.  Tricom,  Inc. of Milwaukee provides  short-term
accounts  receivable  financing  and  value-added   out-sourced   administrative
services,  such as data  processing  of  payrolls,  billing and cash  management
services,  to temporary  staffing service clients located  throughout the United
States. Wayne Hummer Investments,  LLC is a broker-dealer providing a full range
of private  client and brokerage  services to clients  located  primarily in the
Midwest.  Focused  Investments LLC is a broker-dealer that provides a full range
of  investment  solutions  to  clients  through  a  network  of  community-based
financial  institutions  throughout the Midwest.  Wayne Hummer Asset  Management
Company provides money management  services and advisory  services to individual
accounts as well as the Wayne Hummer  Companies' four proprietary  mutual funds.
Wintrust Information Technology Services Company provides information technology
support,  item  capture  and  statement  preparation  services  to the  Wintrust
subsidiaries.

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