COMERICA INC — Director's Dealing 2004

Aug 18, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMERICA INC /NEW/ (CMA)
CIK: 0000028412
Period of Report: 2004-08-16

Reporting Person: MICHALAK MICHAEL H (Senior VP, Corp. Planning)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-16	Common Stock	M	1013	$18.59	Acquired	13263	Direct
2004-08-16	Common Stock	M	2700	$25.42	Acquired	15963	Direct
2004-08-17	Common Stock	S	3713	$59.36	Disposed	12250	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-08-16	Employee Stock Option (right to buy)	$18.59	M	1013	Disposed	2005-04-18	Common Stock (1013)	Direct
2004-08-16	Employee Stock Option (right to buy)	$25.42	M	2700	Disposed	2006-04-14	Common Stock (2700)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1972	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$40.25	2007-04-20	Common Stock (6000)	6000	Direct
Employee Stock Option (right to buy)	$71.58	2008-03-20	Common Stock (5500)	5500	Direct
Employee Stock Option (right to buy)	$66.81	2009-03-19	Common Stock (5225)	5225	Direct
Employee Stock Option (right to buy)	$41.5	2010-03-17	Common Stock (5350)	5350	Direct
Employee Stock Option (right to buy)	$51.43	2011-05-02	Common Stock (4890)	4890	Direct
Employee Stock Option (right to buy)	$63.2	2012-04-17	Common Stock (7000)	7000	Direct
Employee Stock Option (right to buy)	$40.32	2013-04-17	Common Stock (1500)	1500	Direct
Employee Stock Option (right to buy)	$52.5	2014-04-16	Common Stock (5000)	5000	Direct

Footnotes

F2: This number includes shares purchased under the CMA dividend reinvestment plan and shares acquired through employee stock plans as of July 7, 2004.

F3: As of July 7, 2004.

F4: The options vest in four equal annual installments beginning on the date indicated in this column.