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FIRST MIDWEST BANCORP ANNOUNCES ODDLOT PURCHASE OFFER TO SHAREHOLDERS

 NAPERVILLE, Ill., Aug. 26 /PRNewswire/ -- First Midwest Bancorp, Inc. (NASDAQ-NMS: FMBI) today announced a program under which shareholders owning 50 or fewer shares of its common stock may sell their shares back to the company at market price without incurring brokerage or other costs.
 The program is being offered in part responsive to a recent shareholders survey in which many smaller shareholders indicated receptiveness to disposing of their shares at market price if they could do so without incurring brokerage or similar costs. Participating shareholders will be paid the average of the daily high and low market prices for the company's common stock during the offer period.
 The program is beneficial to both selling shareholders and the company. It enables smaller shareholders to sell at market price without incurring any transactional costs; further, special provisions have been made for the convenient sale even when stock certificates have been misplaced or lost. From the company's perspective, it will be able to reduce costs associated with servicing smaller shareholder accounts.
 The program will be operative during the period of Sept. 1 through Sept. 30, 1993, and is subject to extension at the company's discretion. Shares purchased through the program will be reserved for future actions in conjunction with general corporate activities.
 At $2.5 billion, First Midwest Bancorp is Illinois' fourth largest publicly traded bank holding company whose 4 banks and trust company operate 46 banking and trust offices in Northern Illinois.
 -0- 8/26/93
 /CONTACT: James M. Roolf of First Midwest Bancorp, 708-778-8700/
 (FMBI)


CO: First Midwest Bancorp, Inc. ST: Illinois IN: FIN SU:

WB -- NY042 -- 6125 08/26/93 12:13 EDT
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Publication:PR Newswire
Date:Aug 26, 1993
Words:273
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