FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of
1934, Section 17(a) of the Public Utility Holding Company Act of
1935 or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer
subject to Section 16. Form 4 or
Form 5 obligations may continue.
See Instruction 1(b).
(Print or Type Responses)
1. Name and Address of Reporting Person*

Wardeberg George E


 2. Issuer Name and Ticker or Trading Symbol

Marshall & Ilsley Corporation (MI)

 6. Relationship of Reporting Person(s) to Issuer
                  (Check all applicable)

X

 Director

 

 10% Owner

 

 Officer (give title below)

 

 Other (specify below)

 
(Last)        (First)       (Middle)

770 North Water Street		 3. I.R.S. Identification
    Number of
    Reporting Person,
    if an entity
    (voluntary)		 4. Statement for
    Month/Day/Year

11-05-2002

7. Individual or Joint/Group Filing (Check Applicable Line)
5. If Amendment, Date of
    Original (Month/Day/Year)

 X

 Form filed by One Reporting Person
(Street)

Milwaukee WI 53202

 

 Form filed by More than One Reporting Person
(City)          (State)      (Zip)

Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security
    (Instr. 3)		 2. Transaction
    Date

(Month/Day/Year)		 2A. Deemed
      Execution Date,
      if any

(Month/Day/Year)		 3. Transaction
    Code
    (Instr.8)		 4. Securities Acquired (A)
    or Disposed of (D)
    (Instr. 3, 4 and 5)		 5. Amount of Securities
    Beneficially Owned
    Following Reported
    Transaction(s)

      (Instr. 3 and 4)		 6. Ownership
    Form: Direct
    (D) or
    Indirect (I)
    (Instr. 4)		 7. Nature of
    Indirect
    Beneficial
    Ownership

    (Instr. 4)

Code

V

Amount

 (A) or
 (D)

Price
                     
                     
                     
                     
                     
                     
                     
                     
                     
                     

FORM 4 (continued)

Table II ` Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of
    Derivative
    Security
    (Instr. 3)		 2. Conversion
    or Exercise
    Price of
    Derivative
    Security		 3. Transaction
    Date

(Month/Day/Year)		 3A. Deemed
      Execution
      Date, if any
(Month/Day/Year)		 4. Transaction
    Code
    (Instr.8)		 5. Number of
    Derivative
    Securities
    Acquired
    (A) or
    Disposed
    of (D)
    (Instr. 3, 4
    and 5)		 6. Date Exercisable
    and Expiration Date
    (Month/Day/Year)		 7. Title and
    Amount of
    Underlying
    Securities
    (Instr. 3 and 4)		 8. Price of
    Derivative
    Security
    (Instr. 5)		 9. Number of
    Derivative
    Securities
    Beneficially
    Owned
    Following
    Reported
    Transaction
    (s)
    (Instr. 4)		 10. Ownership
      Form of
      Derivative
      Securities:
      Direct (D)
      or Indirect
      (I)
      (Instr. 4) 		11. Nature of
      Indirect
      Beneficial
      Ownership
      (Instr. 4)

Code

V

(A)

(D)

Date
Exercisable

Expiration
Date

Title

Amount or
Number of
Shares

Phantom Stock Units

1-For-1

 11-04-2002  

A

   246.2561   11-04-2002

1

Common Stock

246.2561

$29.4409

4,136.3320

D

  
                               
                               
                               
                               
                               
                               
                               
                               
                               
Explanation of Responses:
1 None

**Signature of Reporting Person

 

Date
By: Ryan E. Daniels, Attorney-in-fact

Wardeberg, George E

770 North Water Street

Milwaukee WI 53202

Marshall & Ilsley Corporation (MI)

11/05/2002

Reminder:

   Report on a separate line for each class of securities beneficially owned directly or indirectly.

*

   If the form is filed by more than one reporting person, see Instruction 4(b)(v).

**

   Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
  See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:

   File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.