Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of purchasers of the common stock of Private Bancorp, Inc. during the period between November 2, 2007 and October 23, 2009, inclusive (the "Class Period").

For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/pvtb.

The complaint alleges that violations of the Securities Exchange Act of 1934 and the Securities Act of 1933 by virtue of the Company's failure to disclose during the Class Period and in connection with its registered public offerings of common stock conducted on or about June 4, 2008 and on or about May 11, 2009 ("Offerings") that its Strategic Growth and Transformation Plan (the "Growth Plan") which led PrivateBancorp to generate hundreds of millions of dollars in commercial and industrial loans that were high risk, and that the Company's residential loan portfolio was suffering severe deterioration. On October 26, 2009, after the Company reported third quarter 2009 earnings results that fell far short of expectations, that despite having written off in excess of $100 million in bad loans in January 2009 the Company still held almost $400 million in nonperforming loans as of the third quarter 2009 and that its elevated levels of nonperforming loans were originated under the Growth Plan, the value of PrivateBancorp stock declined significantly.

If you are a member of the class, you may, no later than December 21, 2010, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.

For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/pvtb, or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at rmaniskas@rmclasslaw.com. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.