July 07, 2004

First Business Bank Elects Ralph Kauten to Board of Directors

MADISON, July 7, 2004 - First Business Bank announced today that Ralph Kauten has been elected to its Board of Directors. Ralph Kauten is President and CEO of Quintessence Biosciences, Inc., and a former faculty member of UW - Whitewater.

"I am very pleased to be joining a team of first class business and financial people who have done so much to help build the local business community," stated Kauten. "The First Business Bank vision created in 1990 has proven to be on target then, and continues to be on target today."

Ralph has been involved in several start-up bio tech businesses. He co-founded and managed PanVera Corporation, which grew from a start-up in 1992 to a highly profitable drug discovery company with $20 million in revenue. He was recognized by Ernst & Young as Entrepreneur of the Year for his role at PanVera. In addition, Mr. Kauten was a key player in the founding and management of Promega Corporation. Beginning in 1979, he provided leadership in crafting the financing and business strategies that have made Promega a company that currently employs over 700 people and has annual revenue in excess of $150 million

"We are extremely excited that Ralph is joining our board," stated Corey Chambas, President and CEO of First Business Bank. "He brings a rare combination of success with several bio tech companies and a financial background. That experience and Ralph’s entrepreneurial approach to building businesses make him a great fit with First Business Bank."

About First Business Bank First Business Bank was established by business owners and investors in 1990 to specialize in quality business banking for the local business community. First Business Bank offers a full line of deposit and loan products for businesses and business owners, including cash management products, Internet banking, retirement plans/investment management services/trustee services, asset-based lending, and leasing.
About First Business Financial Services, Inc.

First Business Financial Services, Inc. (Nasdaq:FBIZ) is a Wisconsin-based bank holding company, focused on the unique needs of businesses, business executives, and high net worth individuals. First Business offers commercial banking, specialty finance, and private wealth management solutions, and because of its niche focus, is able to provide its clients with unmatched expertise, accessibility, and responsiveness. For additional information, visit www.firstbusiness.com or call (608) 238-8008.

The First Business Financial Services, Inc. logo is available at http://www.firstbusiness.com/logo

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This press release contains forward-looking statements that reflect the Corporation's plans, estimates and beliefs. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "objective" and similar expressions and verbs in the future tense are intended to identify forward-looking statements. The statements contained in this press release involve or may involve certain assumptions, risks, and uncertainties, many of which are beyond the Corporation's control, which could cause actual results to differ materially from those discussed in the forward-looking statements. The forward-looking statements included in this press release are only made as of the date hereof, and the Corporation undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. In addition to the assumptions and other factors referenced specifically in connection with such statements, the factors described in "Item 1A. Risk Factors" in our Annual Report on Form 10-K and the following factors could impact the business and financial prospects of the Corporation: general economic conditions; legislative and regulatory initiatives; increased competition and other effects of deregulation and consolidation of the financial services industry; monetary and fiscal policies of the federal government; deposit flows; disintermediation; the cost and availability of funds; general market rates of interest; interest rates or investment returns on competing investments; demand for loan products; demand for financial services; changes in accounting policies or guidelines; general economic developments; acts of terrorism and developments in the war on terrorism; and changes in the quality or composition of loan and investment portfolios.

Jodie Johnson
Assistant Vice President - Marketing
First Business Financial Services, Inc.
(608) 232-5910