<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>
   <periodOfReport>2004-01-20</periodOfReport>
    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001069469</issuerCik>
        <issuerName>PRIVATE BUSINESS INC</issuerName>
        <issuerTradingSymbol>PBIZ</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001277176</rptOwnerCik>
            <rptOwnerName>LIGHTYEAR PBI HOLDINGS LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>51 WEST 52ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2>23RD FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>1</isOther>
         <otherText>See Joint Filer Information</otherText>
      </reportingOwnerRelationship>
   </reportingOwner>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001277178</rptOwnerCik>
            <rptOwnerName>LIGHTYEAR FUND LLP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>51 WEST 52ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2>23RD FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>1</isOther>
         <otherText>See Joint Filer Information</otherText>
      </reportingOwnerRelationship>
   </reportingOwner>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001277179</rptOwnerCik>
            <rptOwnerName>LIGHTYEAR CO INVEST PARTNERSHIP LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>51 WEST 52ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2>23RD FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>1</isOther>
         <otherText>See Joint Filer Information</otherText>
      </reportingOwnerRelationship>
   </reportingOwner>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001277187</rptOwnerCik>
            <rptOwnerName>LIGHTYEAR FUND GP LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>51 WEST 52ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2>23RD FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>1</isOther>
         <otherText>See Joint Filer Information</otherText>
      </reportingOwnerRelationship>
   </reportingOwner>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001277195</rptOwnerCik>
            <rptOwnerName>MARRON &amp; ASSOCIATES LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>51 WEST 52ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2>23RD FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>1</isOther>
         <otherText>See Joint Filer Information</otherText>
      </reportingOwnerRelationship>
   </reportingOwner>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001026921</rptOwnerCik>
            <rptOwnerName>MARRON DONALD B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>51 WEST 52ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2>23RD FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>1</isOther>
         <otherText>See Joint Filer Information</otherText>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeHolding>
      <securityTitle>
         <value>Series A Preferred Stock</value>
      </securityTitle>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>20000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
            <footnoteId id="F1"/>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>See footnote (1) below.</value>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeHolding>
      <securityTitle>
         <value>Warrants to Purchase Shares of Common Stock</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>1.25</value>
      </conversionOrExercisePrice>
      <exerciseDate>
         <value>2004-01-20</value>
      </exerciseDate>
      <expirationDate>
         <value>2014-01-20</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>16000000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
           <value>See footnote (1) below.</value>
         </natureOfOwnership>
      </ownershipNature>
   </derivativeHolding>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> See the attached Joint Filer information.</footnote>
   </footnotes>
   <remarks>*Attorney-in-Fact for the Reporting Persons and Manager of Holdings

Lightyear PBI Holdings,LLC
c/o The Lightyear Fund,L. P.
51 West 52nd Street, 23rd Floor
New   York, NY  10019

The Lightyear Fund, L.P.
51 West 52nd Street,23rd Floor
New York,NY 10019

The Lighyear Fund Co-Invest Partnership,L.P.
51 West 52nd Street,23rd Floor
New  York,NY 10019

Lightyear    Fund GP,LLC
51 West 52nd    Street,23rd Floor
New  York,NY 10019

Marron &amp;Associates,LLC
51 West 52nd Street,23rd  Floor
New York,NY 10019

Donald B.Marron
51 West 52nd Street, 23rd Floor
New York,NY 10019

See footnote (1).</remarks>
   <ownerSignature>
      <signatureName>Bruce Rubin</signatureName>
      <signatureDate>2004-01-21</signatureDate>
   </ownerSignature>
</ownershipDocument>

