Marshall & Ilsley Corporation Announces Plans to Split

Marshall & Ilsley Corporation today announced its plan to split Marshall & Ilsley Corporation and Metavante Corporation into independent public companies.

Under an investment agreement with Warburg Pincus, a global private equity investor, Warburg Pincus has agreed to invest $625 million to acquire an equity stake of 25 percent in Metavante Corporation. Marshall & Ilsley Corporation shareholders will own 75 percent of the shares of Metavante Corporation. The plan will be implemented through the spin-off of Marshall & Ilsley Corporation and is intended to be tax-free to Marshall & Ilsley Corporation and its shareholders.

In connection with the plan, approximately $1.75 billion of new Metavante Corporation debt will be arranged by J.P. Morgan Securities Inc. and Morgan Stanley.

As of December 31, 2006, Marshall & Ilsley Corporation, including Metavante Corporation, had assets of approximately $56.2 billion, net operating income of approximately $820 million, and approximately 14,700 employees. M&I has three offices in Tulsa.



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