MARSHALL FUNDS, INC.

Amendment No. 11

to

ARTICLES OF INCORPORATION

Dated July 30, 1992

THESE Articles of Incorporation are amended as follows:

Delete Section (a) of Article IV and substitute in its place the following:

“(a) The Corporation is authorized to issue an indefinite number of shares of common stock, par value $.0001 per share. Subject to the following paragraph, the authorized shares are classified as follows:

CLASS	SERIES	Authorized Number of SHARES
Marshall   Equity Income Fund	Series A	Indefinite
Marshall   Equity Income Fund	Series Y	Indefinite
Marshall   Government Income Fund	Series A	Indefinite
Marshall   Government Income Fund	Series Y	Indefinite
Marshall   Intermediate Bond Fund	Series A	Indefinite
Marshall   Intermediate Bond Fund	Series Y	Indefinite
Marshall   Mid-Cap Growth Fund	Series A	Indefinite
Marshall   Mid-Cap Growth Fund	Series Y	Indefinite
Marshall   Money Market Fund	Series A	Indefinite
Marshall   Money Market Fund	Series Y	Indefinite
Marshall   Money Market Fund	Series I	Indefinite
Marshall   Short-Term Income Fund	Series Y	Indefinite
Marshall   Large-Cap Growth & Income Fund	Series A	Indefinite
Marshall   Large-Cap Growth & Income Fund	Series Y	Indefinite
Marshall   Mid-Cap Value Fund	Series A	Indefinite
Marshall   Mid-Cap Value Fund	Series Y	Indefinite
Marshall   Short-Term Tax-Free Fund	Series Y	Indefinite
Marshall   Intermediate Tax-Free Fund	Series Y	Indefinite
Marshall   International Stock Fund	Series A	Indefinite
Marshall   International Stock Fund	Series Y	Indefinite
Marshall   International Stock Fund	Series I	Indefinite
Marshall   Small-Cap Growth Fund	Series A	Indefinite
Marshall   Small-Cap Growth Fund	Series Y	Indefinite

The undersigned Secretary of Marshall Funds, Inc. certifies that the above stated amendment is a true and correct Amendment to the Articles of Incorporation, as adopted by the Directors of the Corporation as of the 24th day of January, 2000, and that shareholder action is not required, all in accordance with Section 180.1002 of the Wisconsin Business Corporation Law.

WITNESS the due execution hereof this 31st day of January, 2000.

/s/Brooke J. Billick

Secretary

Prepared by:		Brooke J. Billick
	Vice President & Securities Counsel
	Marshall & Ilsley Trust Company
	1000 North Water Street, 13th Floor
	Milwaukee, WI 53202