Associated Banc-Corp Selling EightBranches.

GREEN BAY, Wis.--(BUSINESS WIRE)--Oct. 29, 1999--

Associated Banc-Corp (NASDAQ: ASBC) has reached definitive agreements with six separate parties under which Associated plans to sell seven branches of its subsidiary, Associated Bank Illinois.

The branches being sold are at Aledo,

Additionally, Associated has sold its Sleepy Eye, Minn. office, which Associated Banc-Corp acquired in February, 1999, as part of its acquisition of Bank Windsor. The Sleepy Eye branch had deposits of $11.7 million.

Associated Bank Illinois, based in Rockford, intends to focus its efforts on its remaining branches and on growing its business banking and investment management services, Associated Banc-Corp President and Chief Operating Officer Robert Gallagher said.

"Illinois is a market filled with exciting potential for Associated," Gallagher said. "To make the most of this potential, we must concentrate our resources and attention on customers in the markets where we can add the most value.

"We believe customers of the branches we are selling will benefit from being part of organizations that are strongly focused on these markets. At the same time, remaining Associated Bank customers elsewhere will benefit from the greater company emphasis on their branches."

Associated expects to complete some of the branch sales in the fourth quarter of this year and some in the first quarter of 2000.

Associated Banc-Corp, with total assets of $12.3 billion, is headquartered in Green Bay, Wis. Through its more than 200 banking offices and 225 ATMs, Associated serves 150 communities in Wisconsin, Illinois and Minnesota. More information on Associated Banc-Corp is available at www.associatedbank.com.