December 18, 2003

First Business Bank President & CEO Named 2003 'Rising Star' by North*Western Financial Review

MADISON, December 18, 2003 - First Business Financial Services, Inc. is proud to announce that Corey Chambas, President and CEO of First Business Bank, has been presented with the 2003 ’Rising Star’ award by North*Western Financial Review in recognition for his outstanding industry accomplishments and community involvement.

Chambas has worked in the commercial banking industry for 16 years, specializing in cash management and commercial lending. A graduate from the University of Wisconsin, he has also completed several advanced commercial lending programs including those of Darden (University of Virginia) and Kellogg (Northwestern University). In addition to his role as President and CEO at First Business Bank, Corey serves as the Executive Vice President of First Business Financial Services, Inc., a director of First Business Bank, a director of First Business Capital Corp., a board member and treasurer of Independent Living, Inc., the treasurer of the Madison Area Youth Soccer Association, the vice chair of the New Accounts Division of the United Way Campaign Cabinet, a member of Madison Breakfast Rotary, a member of the College Readiness 21 Taskforce for the Wisconsin Foundation for Independent Colleges, and a foundation board member for Dane County Transition Schools.

One of seven bankers honored with this award, Corey was the sole recipient in the state of Wisconsin. Other winners included: Pete Jahner of Kirkwood Bank and Trust, Bismark, ND; Stephen Daggett of Midwest Bank, Detroit Lakes, MN; John DeDoncker of The National Bank, Bettendorf, IA; Greg Ohlendorf of First Community Bank & Trust, Beecher, Illinois; Vicki Kraai of Sutton State Bank, Sutton, Nebraska; and Rod Lasley of North Salem State Bank, Salem, Indiana. Winners shared tremendous accomplishments at their local banks and a record of exceptional community service.

"I am honored to receive such an award," stated Chambas. "I am fortunate that I have been able to work at a unique, business-focused bank, with a dedicated team of people who create success by bringing real expertise to our clients."

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 (Nasdaq:FBIZ) is a $1.3 billion Wisconsin-based bank holding company that specializes in focused financial solutions for businesses, key executives, and high net worth individuals through its operating companies. Its companies include: First Business Bank - Madison; First Business Bank - Milwaukee; First Business Bank - Northeast; First Business Trust & Investments; First Business Equipment Finance, LLC; and First Business Capital Corp. 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

Forward-Looking Statements
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.

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