Private Business, Inc. and the National Tool and Machine Association Enter Into Marketing Agreement.

Business Editors

NASHVILLE, Tenn.--(BUSINESS WIRE)--June 12, 2003

Private Business, Inc. (NASDAQ:PBIZ), a leading provider of cash flow and retail inventory management solutions for community banks and small businesses, today announced that The National Tool and Machine Association (NTMA) initiated affiliation with Private Business, Inc. (PBI) to provide NTMA members with the benefit of the BusinessManager(R) program that enhances cash flow and accounts receivable management. In conjunction with PBI's expanding network of more than 1,000 community banks, this innovative program allows NTMA members to outsource the ongoing processing and tracking of invoices in order to fund ongoing receivables on a daily basis without any interference in customer relationships. A key benefit of the program is the control that clients retain throughout the invoicing and collections process.

"Business Manager is a great product for our members because it helps alleviate their cash flow problems," said Matthew Coffey, President of the NTMA. "We believe this product will be extremely beneficial to our members, and we are excited about our new relationship with PBI."

Henry Baroco, Chief Executive Officer for PBI, said, "We believe this will be a great opportunity for NTMA members to enhance their business operations and banking relationships. NTMA is a highly respected organization in an industry that has historically demonstrated a strong need for the services BusinessManager provides. Improved cash flow and effective asset management are critical factors in helping NTMA members achieve growth and increased efficiency."

Organized in 1943, the National Tool and Machine Association represents approximately 2,000 precision custom manufacturers serving customers in the automotive, aerospace, medical equipment, semiconductor, household appliance and other industries.

Private Business, Inc. is a leading provider of cash flow and retail inventory management solutions for community banks and middle-market businesses. The company is headquartered in Brentwood, Tennessee, and its common stock trades on The NASDAQ Stock Market under the symbol "PBIZ." Additional information on this company can be found on the World Wide Web at www.privatebusiness.com.

This release contains several "forward-looking statements" concerning Private Business, Inc.'s operations, prospects, strategies and financial condition, including its future economic performance, intent, plans and objectives, the likelihood of success in developing and expanding its business. These statements are based upon a number of assumptions and estimates that are subject to significant uncertainties, many of which are beyond Private Business, Inc.'s control. Words such as "may," "would," "could," "will," "expect," "anticipate," "believe," "intend," "plan," and "estimate" are meant to identify such forward-looking statements. Actual results may differ materially from those expressed or implied by such forward-looking statements. The Company assumes no obligation to update this information. Factors that could cause actual results to differ materially are discussed in Private Business, Inc.'s filings with the Securities and Exchange Commission, including its Form 10-K and Form 10-Q filings.