Rule 424(b)(2)
File No. 333-33814

Pricing Supplement #78 dated July 6th, 2004
to the Prospectus Dated April 12, 2000
and Prospectus Supplement Dated October 21, 2003


Marshall & Ilsley Corporation
MiNotes SM

Due from 9 Months to 30 Years


Trade Date:	July 6, 2004
Issue Price:	100%


Original Issue Date:	July 9, 2004
Principal Amount:	$425,000.00


Maturity Date:	January 15, 2010




Interest Rate:
4.40%


Interest Payment Dates:
08/15/04 & Monthly thereafter


Purchasing Agent acting as Principal:
Merrill Lynch & Co.


Purchasing Agent Commission:
1.00%


Proceeds Before expenses:
99.00% ($420,750.00)


Survivor's Option
Yes


Redemption or Repayment

Redemption/Repayment Terms

At Maturity

Not Applicable
Minimum Denomination:
$1,000 minimum investment with increments of $1,000

CUSIP No.:
57183MDK3


Original Issue Discount:
No

Notes:
All trades settle without accrued interest and clear SDFS: DTC Book-Entry only
Merrill Lynch DTC Participant Number: 161

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