I respectfully disagree with the above information and reasoning. It has nothing to do with packaging, but it may have something to do with flow. A quick web search gave me the following:

Correct filter:

Oil Filter - 2004 & 2005 V8 (4.4L N62)
Part #: 11427511161 (11 42 7 511 161)
Applications: 2004 - 2008 (E60 E63 E64 E65 E66 X5)
Replacement oil filter kit for 4.4L N62 V8 engines, as found in 2004, 2005 V8 model BMWs.

This oil filter fits the following BMWs:

2004-2005 E60 5 Series - 545i
2004-2005 E63/E64 6 Series - 645Ci, 645Ci convertible
2002-2005 E65/E66 7 Series - 745i, 745Li
2004-2005 X5 SAV V8 incl X5 4.4, X5 4.8is

Incorrect filter (for the 2004 model under discussion):

MAHLE Oil Filter Kit - Many V8 & V12 Engines, incl E39 540, X5 (4.4, 4.6is), E38 740 & 750, 840 (9/95 AND UP), 850I, CSI
Part #: 11427510717 (11 42 7 510 717)
Applications: 1991 - 2003 (E31 E32 E34 E38 E39 E53 X5 Z8)
Replacement oil filter kit for most V8 & V12 engines from 1988 to 2003 that have plastic ends on both sides of the filter. Oil filter includes gasket / seal rings. This filter is often sold under BMW part# 11 42 1 745 390 (11421745390).

This oil filter fits the following BMWs:

1994-1995 E34 5 Series V8 - 530i, 530i Wagon, 540i
1997-2003 E39 5 Series V8 - 540i & M5
1992-1994 E32 7 Series - 740i, 740iL, 750iL
1995-2001 E38 7 Series - 740i, 740iL, 750iL
1992-1999 E31 8 Series - 840/850
2000-2003 X5 SAV V8 - X5 4.4, X5 4.6is
2000-2003 Z8

In summary, it depends on the year of manufacture, not the chassis series. The 2004 got the new N62 engine with Valvetronic as I recall. Same filter for all V8s up until 2003, a different filter for models from 2004 onwards.

Use the above at your own risk, since not everything posted on the web is completely accurate (but I would chance it).

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue