METAVANTE SELLS 401k THIRD-PARTY ADMINISTRATION BUSINESS

MILWAUKEE, Dec. 31, 2004 – Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), announced that effective today it has sold its small business 401k Retirement Plan Services operations to two companies effective January 1, 2005. The 401k Retirement Plan Services business had been focused on administering retirement plans for small businesses of less than 300 employees. M&I Trust Company will continue to focus on large retirement plans and is unaffected by this transaction.

The two acquiring companies are EMJAY Corporation, a wholly owned subsidiary of Great-West Life & Annuity Insurance Company, of Greenwood Village, Colo., and The Retirement Advantage, Inc., a Port Washington, Wis.-based company. Metavante will provide supporting technology services to the two companies for a transitional period of 12 to 24 months.

"By aligning Retirement Plan Services with two high-quality partners that share the Metavante customer care philosophy, our clients, employees and institutional partners will be well supported. The two acquiring companies each have a long-term history in the business and are focused on retirement plan administration for small and mid-sized companies," said Thomas R. Mezera, senior vice president, Metavante Corporation.

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