ASSOCIATED BANC-CORP — Director's Dealing 2004

Mar 3, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASSOCIATED BANC-CORP (ASBC)
CIK: 0000007789
Period of Report: 2004-03-02

Reporting Person: OLSEN ARTHUR E (Audit Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-02	Common Stock $.01 Par Value	M	4537.5	$14.4353	Acquired	8017.844	Direct
2004-03-02	Common Stock $.01 Par Value	M	2268.75	$15.9779	Acquired	10286.594	Direct
2004-03-02	Common Stock $.01 Par Value	J	1.25	—	Disposed	10285.344	Direct
2004-03-02	Common Stock $.01 Par Value	J	2283	—	Disposed	8002.344	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-02	Incentive Stock Option (right to buy)	$14.4353	M	4537.5	Disposed	2004-04-25	Common Stock $.01 Par Value (4537.5)	Direct
2004-03-02	Incentive Stock Option (right to buy)	$15.9779	M	2268.75	Disposed	2005-01-25	Common Stock $.01 Par Value (2268.75)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock $.01 Par Value	7012.03	Indirect

Footnotes

F1: Pursuant to insider's stock option exercise, fractional shares are paid out in cash.

F2: Shares were used in a stock option swap transaction.