/ CORRECTION - Midwest Banc Holdings, Inc.

Market Wire, January, 2008

In the news release, " Midwest Banc Holdings Announces Fourth Quarter 2007 Earnings Call," issued Wednesday, January 09, 2008, by Midwest Banc Holdings, Inc. (NASDAQ: MBHI), we are advised by the company that the first paragraph should read "Midwest Banc Holdings, Inc. (NASDAQ: MBHI) announced that it will release fourth quarter 2007 earnings after the market closes on Monday, January 28, 2008 and conduct a conference call to discuss these results the following morning, January 29, 2008, at 10:00 A.M. eastern/9:00 A.M. central." rather than "Midwest Banc Holdings, Inc. (NASDAQ: MBHI) announced that it will release fourth quarter 2007 earnings after the market closes on Tuesday, January 29, 2008 and conduct a conference call to discuss these results the following morning, January 30, 2008, at 11:00 A.M. eastern/10:00 A.M. central." as originally issued. Complete corrected text follows.

Midwest Banc Holdings Announces Fourth Quarter 2007 Earnings Call

MELROSE PARK, IL--( January 09, 2008) - Midwest Banc Holdings, Inc. (NASDAQ: MBHI) announced that it will release fourth quarter 2007 earnings after the market closes on Monday, January 28, 2008 and conduct a conference call to discuss these results the following morning, January 29, 2008, at 10:00 A.M. eastern/9:00 A.M. central.

The webcast and call will be hosted by members of management. A brief discussion of quarterly results and trends will be followed by questions from professional investors and analysts invited to participate in the interactive portion of the discussion.

Interested parties wishing to participate in the interactive portion of the call can dial in at (800) 860-2442 or (412) 858-4600 for international calls. The live webcast can be accessed at www.midwestbanc.com and will be available for replay on that website through April 29, 2008. The audio replay may be accessed through February 8, 2008 at (877) 344-7529 or (412) 317-0088 for international calls, pass code 414979#.

Midwest Banc Holdings, Inc., headquartered in Melrose Park, IL with approximately $3.7 billion in assets, provides a wide range of retail and commercial banking services, personal and corporate trust services, securities services and insurance brokerage services in the greater Chicago area. We have 29 banking offices and operate 32 ATMs. Our principal operating subsidiaries are Midwest Bank and Trust Company and Midwest Financial and Investment Services, Inc.

Information on our products and services and locations is available at www.midwestbanc.com .

For further information: Daniel R. Kadolph Chief Financial Officer 708-450-6759 Email Contact