8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) – September 30, 2004

MELLON FINANCIAL CORPORATION

(Exact name of registrant as specified in charter)

Pennsylvania	1-7410	25-1233834
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

One Mellon Center 500 Grant Street Pittsburgh, Pennsylvania	15258
(Address of principal executive offices)	(Zip code)

Registrant’s telephone number, including area code – (412) 234-5000

(Former name or former address, if changed since last report)

N/A

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 8.01.	OTHER EVENTS
	By press release dated September 30, 2004, Mellon Financial Corporation announced the completion of its previously announced acquisition of Paragon Asset Management Company, a privately held, Las Vegas area-based investment management firm, specializing in meeting the needs of high-net-worth individuals, corporations and local municipalities. Terms of the deal, first announced on July 12, 2004, were not disclosed.
ITEM 9.01.	FINANCIAL STATEMENTS AND EXHIBITS

Exhibit Number	Description
99.1	Press Release dated September 30, 2004, announcing the matter referenced in Item 8.01 above.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: October 4, 2004	MELLON FINANCIAL CORPORATION
	By:	/s/ MICHAEL A. BRYSON
		Michael A. Bryson
		Chief Financial Officer

EXHIBIT INDEX

Number	Description	Method of Filing
99.1	Press Release dated September 30, 2004	Filed herewith

EX-99.1

Exhibit 99.1

		News Release
Contacts:	Media – Joseph F. Ailinger Jr.	Analysts – Andy Clark
	(617) 722-7571	(412) 234-4633
	ailinger.jf@mellon.com	clark.aj@mellon.com

MELLON COMPLETES ACQUISITION OF PARAGON ASSET MANAGEMENT

BOSTON and LAS VEGAS, September 30, 2004 - Mellon Financial Corporation has completed its previously announced acquisition of Paragon Asset Management Company, a privately held, Las Vegas area-based investment management firm, specializing in meeting the needs of high-net-worth individuals, corporations and local municipalities. Terms of the deal, first announced on July 12, were not disclosed.

Paragon, which adds roughly $600 million in client assets to Mellon, is one of three acquisitions announced by Mellon’s Private Wealth Management group this year. Mellon announced an agreement to acquire Rhode Island-based Providence Group Investment Advisory Company on September 7, and acquired Seattle-based Safeco Trust Company in April.

Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world’s leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, human resources services and treasury services. Mellon has more than $3.6 trillion in assets under management, administration or custody, including more than $675 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management Limited. More about Mellon is available at www.mellon.com <http://www.mellon.com>.

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