Pinnacle Bancshares, Inc. Extends Odd Lot Tender Offer

  
    
  
  
    
      Pinnacle Bancshares, Inc. (AMEX: PLE) today announced that the 
      expiration date of its tender offer for the purchase of all shares of 
      its common stock held by persons owning 99 or fewer shares as of the 
      close of business on the record date of October 10, 2007, has been 
      extended to 5:00 p.m., Central Time, on January 18, 2008. The offer had 
      been scheduled to expire at 5:00 p.m., Central Time, on Friday, January 
      4, 2008. The Company will pay $16.25 in cash for each share purchased in 
      the tender offer. The Company also will pay $50.00 as an incentive to 
      each stockholder who accepts the offer.
    
    
      In commenting on the results of the offer to date, Robert B. Nolen, Jr., 
      President and Chief Executive Officer of Pinnacle Bancshares, Inc., 
      stated, “We have been advised that, due to the 
      holidays, several eligible stockholders would appreciate additional time 
      to respond to our offer. As of the close of business on January 3, 2008, 
      61 stockholders have tendered 1,659 shares.”
    
    
      Pinnacle Bancshares, Inc. is filing an amended Schedule 13E-3 with the 
      SEC in connection with the tender offer as a result of the extended 
      expiration date. Stockholders and investors are urged to read these 
      materials since they contain important information, including the 
      various terms and conditions of the extended offer. The amended Schedule 
      13E-3 can be retrieved from the SEC’s website (www.sec.gov) 
      or from Pinnacle Bancshares, Inc.
    
    
      Questions or requests for additional documents may also be directed to 
      Corporate Communications, Inc., the Information Agent for the tender 
      offer (Attention: Gil Fuqua), by telephone at [phone] or by 
      facsimile at [phone].
    
    
      This press release is for informational purposes only and is not an 
      offer to buy or a solicitation of an offer to sell any shares of 
      Pinnacle Bancshares, Inc. common stock. The offer is being made solely 
      by the amended Offer to Purchase for Cash and the accompanying materials 
      delivered to the Company’s stockholders.