PBiz Enters into an $18 Million Credit Agreement with Bank of America

Private Business, Inc. (NASDAQ:PBIZ), ("PBiz"), a
provider of technology solutions for financial institutions, today
announced it has entered into a new credit agreement with Bank of
America, N.A. ("Bank of America") that will replace the company's
existing credit agreement. The total amount of the funds available for
borrowing under the new credit facility is $18 million.
   Commenting on the transactions, Chief Executive Officer of PBiz,
Lynn Boggs, stated, "We are pleased that Bank of America has entered
into this new credit facility, which substantially increases our total
borrowing capacity, financial flexibility, and ability to execute our
acquisition strategy. I am pleased to have an institution as strong as
Bank of America as our financial partner."
   As a condition to Bank of America's entering into the new credit
facility with PBiz, Lightyear PBI Holdings, LLC ("Lightyear PBI"), the
company's majority shareholder, guaranteed $6 million of the Company's
obligations under the facility and exchanged the $10 million 10%
senior subordinated note that Lightyear PBI purchased from PBiz in
December 2005 for PBiz Series C Preferred Stock. These shares of
Series C Preferred Stock will accrue a 10% annual dividend. The Bank
of America credit facility prohibits the payment of cash dividends on
all classes of stock during the term of the facility.

   About PBiz

   Private Business, Inc. (PBiz) offers a fully-featured strategic
product suite that provides core data processing, along with accounts
receivable financing, Internet banking, cash management, CRM/business
intelligence, financial accounting tools, Check 21 compliance,
electronic image/item processing, and online debt collections. PBiz
believes its full suite of products and services will allow financial
institutions and their small-to-medium sized business customers to
better compete in today's aggressive financial services marketplace,
and grow their trusted financial relationships, while providing
increased profitability through the efficient use of technology and an
expanded community presence.
   For more information about PBiz, or its line of products for
financial institutions, please visit us on the web at www.pbizinc.com
or contact marketing via email at [e-mail] or call,
800-235-5584.

   Safe Harbor Statement

   Certain statements made in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based on management's current expectations and include
known and unknown risks, uncertainties and other factors, many of
which the company is unable to predict or control, that may cause the
company's actual results or performance to materially differ from any
future results or performance expressed or implied by such
forward-looking statements. These statements involve risks and
uncertainties, including, without limitation, risks and uncertainties
associated with the company's ability to repay its senior credit
facility, to achieve its growth plans and to identify, complete, or
integrate acquisitions. These risks and uncertainties are in addition
to other factors detailed from time to time in the company's filings
with the Securities and Exchange Commission. The company cautions
investors that any forward-looking statements made by the company are
not necessarily indicative of future performance. The company is not
responsible for updating the information contained in this press
release beyond the published date, or for changes made to this
document by wire services or Internet services.