June 06, 2008

First Business Financial Services, Inc. Adopts Shareholder Rights Plan

MADISON, Wis., June 6, 2008 (PRIME NEWSWIRE) -- First Business Financial Services, Inc. (Nasdaq:FBIZ) announced that its Board of Directors adopted a shareholder rights agreement. In connection with the adoption of the rights agreement, the Board declared a dividend of one common share purchase right on each outstanding share of First Business’s common stock. The issuance of the rights under the rights agreement will be made on July 15, 2008 to shareholders of record as of the close of business on July 1, 2008.

The rights are designed to enable all First Business shareholders to realize the full long-term value of their investment and to provide for fair and equal treatment of all shareholders in the event that an unsolicited attempt is made to acquire First Business. First Business believes that the rights agreement will help protect shareholders against abusive takeover tactics that may be used to gain control of the company without paying a price that is in the best interest of all shareholders. The rights agreement was not adopted in response to any known offers for First Business and is similar to rights agreements adopted by many other companies.

The rights will be exercisable only if a person or group acquires 15% or more of First Business’s common stock or announces a tender offer, consummation of which would result in ownership by a person or group of 15% or more of the common stock.

Each right will initially entitle shareholders to buy one-half of one share of common stock at an initial exercise price of $85.00 per full share, subject to adjustment. If any person becomes a 15% or more shareholder of First Business, then each right (subject to certain limitations) will entitle its holder to purchase, at the rights’ then-current exercise price, a number of common shares of First Business or of the acquiror having a market value at the time of twice the rights’ full share exercise price.

First Business’s Board of Directors may redeem the rights for $0.001 per right at any time prior to the time when the rights become exercisable. Unless the rights are redeemed, exchanged or terminated earlier, they will expire on June 5, 2018.

Additional details regarding the rights agreement are contained in a Form 8-K to be filed by First Business with the Securities and Exchange Commission and in a summary to be mailed to all shareholders on or about July 15, 2008.
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

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.

Jim Ropella
Senior Vice President & CFO
First Business FInancial Services, Inc.
(608) 232-5970