White River Capital, Inc. Announces Share Repurchase Program

Business Wire, Oct 27, 2008

INDIANAPOLIS -- White River Capital, Inc. (NYSE Alternext US: RVR) ("White River") today announced that its Board of Directors approved a program to repurchase, from time to time and subject to market conditions, up to 150,000 shares of White River's outstanding common stock, without par value, on the open market or in privately negotiated transactions. Repurchases are authorized to begin on the third business day following the filing, with the Securities and Exchange Commission ("SEC"), of the Form S-4 registration statement relating to White River's previously announced merger transaction with First Chicago Bancorp. The repurchase program will end on the day prior to the closing date of the merger transaction.

"White River remains committed to providing value for our shareholders," said Mark Ruh, White River's President and Chief Operating Officer. He further added, "We believe that at current price levels, White River's shares are an attractive investment and our repurchase program reflects our continuing confidence in White River's financial strength. We have maintained the flexibility to invest in our current business with our strong balance sheet, high profitability and significant free cash flow."

The number of shares authorized to be repurchased under the program represent approximately 3.9% of White River's common stock outstanding as of June 30, 2008 as reported on White River's most recent Form 10-Q filed with the SEC.

ABOUT WHITE RIVER, COASTAL CREDIT AND UAC

Founded in 2004, White River is the holding company for Coastal Credit LLC and Union Acceptance Company LLC.

Coastal Credit LLC is a specialized auto finance company, headquartered in Virginia Beach, Virginia, engaged in acquiring sub-prime auto receivables from both franchised and independent automobile dealers which have entered into contracts with purchasers of typically used, but some new, cars and light trucks. Coastal Credit then services the receivables it acquires. Coastal Credit commenced operations in Virginia in 1987 and conducts business in 20 states - Alaska, Arizona, California, Colorado, Delaware, Florida, Georgia, Hawaii, Louisiana, Maryland, Mississippi, Nevada, North Carolina, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Virginia and Washington - through its 17 branch locations. The Coastal Credit receivables portfolio, net of unearned finance charges, was $98.9 million at June 30, 2008.

Union Acceptance Company LLC is a specialized auto finance company, based in Indianapolis, Indiana, which holds and oversees its portfolio of $4.2 million in non-prime auto receivables, as of June 30, 2008.

The above mentioned repurchase program does not guarantee that any shares authorized for repurchase will be repurchased at or above the market price on the date of authorization, or that such repurchase will occur to the full extent authorized, or that the repurchase of any shares will result. Among other things, the authorized repurchases may be subject to restrictions pursuant to applicable law and rules and regulations of the SEC concerning the timing, method and amount of share repurchases. The authorized repurchases also may be subject to delay, periodic interruptions or cancellation if necessary to comply with insider trading laws and other securities-offering related restrictions under applicable securities laws.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

White River will file a registration statement on Form S-4 with the SEC in connection with the proposed merger transaction with First Chicago Bancorp ("First Chicago"). The registration statement will include a joint proxy statement of White River and First Chicago that also constitutes a prospectus of White River, which will be sent to the shareholders of First Chicago. We urge shareholders to read the joint proxy statement/prospectus when it becomes available because it will contain important information about White River, First Chicago, and the proposed merger transaction. When filed, this document and other documents relating to the merger filed by White River and First Chicago can be obtained free of charge from the SEC's website at www.sec.gov. This site includes financial highlights, stock information, public filings with the SEC, and corporate governance documents. The SEC public filings available for review include but are not limited to:

* White River's Annual Report on Form 10-K for the year ended December 31, 2007,

* its Proxy Statement on Schedule 14A dated April 10, 2008, and

* its Quarterly Reports on Form 10-Q for the quarters ended March 31 and June 30, 2008.

These documents and additional information about White River also are available at White River's web site located at: www.WhiteRiverCap.com, and information about First Chicago is available at www.FirstChicago.com. Alternatively, these documents, when available, can be obtained free of charge from White River upon written request to:

White River Capital, Inc.
Mark R. Ruh
President and Chief Operating Officer
1445 Brookville Way, Suite I
Indianapolis, IN 46239
or by calling (317) 806-2166 x6468
or from First Chicago upon written request to:

First Chicago Bancorp
J. Christopher Alstrin
Executive Vice President and Chief Financial Officer
1145 N. Arlington Heights Road
Itasca, IL 60143
or by calling (630) 250-9500