Confusing Requirements Eliminated from 'Free Checking' Accounts with New Product from First Indiana Bank.

Live Free Checking Offers Common-Sense Features and Benefits without the Obstacles That Plague Most 'Free Checking' Products in Indianapolis

INDIANAPOLIS -- First Indiana Bank launched its Live Free Checking product today and company executives said their new checking account is aimed at making banking easier and more affordable.

The new checking account from First Indiana also features common-sense benefits that are not available at other banks in Indianapolis.

Live Free Checking customers receive:

* No ATM fees anywhere in the world regardless of who owns the ATM machine. If a Live Free Checking customer is charged a fee by another bank's ATM, First Indiana will rebate that fee up to $5 per transaction.

* $25,000 worth of Identity theft insurance. At no extra cost to the customer, Live Free Checking delivers fraud insurance and credit report monitoring.

* Free checks for life. Live Free Checking customers never pay for paper checks.

* No minimum balance requirements. "Free" checking account privileges that other banks offer require minimum account balances of thousands of dollars -- some as high as $10,000. Live Free Checking does not require a minimum balance.

According to insurance provider AIG, identity theft is one of the fastest growing financial crimes in America, striking one in every four households over the last 5 years and nearly 10 million victims in the last year alone

"With millions of identity theft cases costing U.S. consumers more than $53 billion every year, having a checking account that will help our customers reclaim their identity is a benefit with real value," said Ken Hall, director of retail banking for First Indiana. "Considering all of the features of Live Free Checking, it's clear that First Indiana Bank is committed to eliminating the fees and restrictions found at other banks that do nothing but create barriers between customers and their money."

First Indiana is launching Live Free Checking utilizing an edgy new integrated marketing campaign that includes traditional advertising methods combined with community relations, digital media, and guerrilla and viral marketing tactics. Director of Marketing John Dietrich, who joined First Indiana In February, said the new campaign is designed to appeal to a broad range of consumers with specific attention to men and women 21-44 years old--heavy users of ATMs.

"No other bank in Indianapolis has a product like Live Free Checking so we developed an advertising campaign that really sets it apart from the competition and tells consumers that First Indiana is the bank for them," Dietrich said. "Since we're headquartered in central Indiana, we are also able to take our new product directly to customers through various community relations efforts and some exciting guerrilla and viral marketing concepts that no other banks are attempting in the market."

Visit www.LiveFreeChecking.com for more information.

About First Indiana

First Indiana Corporation (Nasdaq:FINB) is a full-service financial services company offering comprehensive financial solutions to businesses and individuals. It is the holding company for First Indiana Bank, N.A., the largest commercial bank headquartered in Indianapolis. Founded in 1915, First Indiana Bank is a national bank with 32 offices in Central Indiana. Information about First Indiana is available at [phone], or at www.firstindiana.com.