The Ireland domiciled CCF is a recognised tax-transparent, cross-border, asset pooling vehicle designed to enhance investment performance, governance, oversight, administrative control and investment management decision-making. The fund is open to Nestle pension plans around the world and, at launch, plans from several countries will be investing.

"Northern Trust is a leader in tax-transparent asset pooling," said Jean-Pierre Steiner, CEO of Nestle Capital Advisers. "Its extensive experience and expertise in launching and administering tax-transparent funds was helpful and comforting to us.

"Nestle Capital Advisers is not new to the concept of pooled vehicles - we have had a pooled fund in the form of an Irish unit trust since June 2001 through our Dublin domiciled Robusta fund range. However, we were attracted to efficiencies that can be gained through a tax-transparent vehicle such as the Dublin-domiciled CCF," Steiner said.

This latest launch brings to 18 the number of tax-transparent and non tax-transparent umbrella and single strategy funds supported by Northern Trust for multinational and investment manager clients. Included in the range of tax-transparent funds administered by Northern Trust are Irish CCF, Luxembourg Fonds Commun de Placement (FCP), and Dutch Fonds voor Gemene Rekening (FGR) fund types.

"Studies we have carried out at Northern Trust have shown that using a non tax-transparent fund could impose a 30 percent withholding tax on U.S. equities held in such a fund, resulting in a 'drag' of approximately 90 basis points in fund performance. That's a significant amount," said Aaron Overy, head of pooling business development at Northern Trust, Europe, Middle East and Africa. "Holdings in U.S. equities tend to account for the greatest proportion of holdings in global equity funds because the U.S. is such a large and important market. By pooling assets in a tax-transparent fund, such as a CCF, institutional investors and investment managers alike can achieve multiple benefits, including improved fund performance, in a tax-neutral way."

Northern Trust is a pioneer in cross-border pooling and was the first to fully support tax-transparent funds for multinational corporations created to pool the assets of investors with multiple tax rates, investing in multiple jurisdictions. Northern Trust has approximately US$48 billion in assets under custody globally, in both tax-transparent and non-tax-transparent funds, as at 30th September 2009. The funds administered by Northern Trust support multiple countries of investment, multiple countries of investor, multiple asset classes and multi manager funds.

In 2007, Northern Trust became the first asset servicer to secure reduced withholding tax rates for investors holding Italian equities through a tax-transparent, cross-border pooling vehicle. In 2008, Northern Trust achieved a milestone in cross-border pooling after it secured a U.S. Department of Labor opinion regarding the investment of ERISA pension plan assets in offshore-domiciled, tax-transparent pooled funds such as the CCF, FCP and FGR.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2009, Northern Trust had assets under custody of US$3.6 trillion, and assets under investment management of US$611 billion. For 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com.

Northern Trust operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority.

Northern Trust in Hong Kong is a securities company regulated by the Securities and Futures Commission.

Northern Trust in Singapore is a foreign wholesale bank regulated by the Monetary Authority of Singapore.

Northern Trust operates in China as a Representative Office and is regulated by the China Banking Regulatory Commission.

Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, Northern Trust Fiduciary Company (Guernsey) Limited and Northern Trust International Fund Administration Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission.

Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission.

Northern Trust Global Services is authorised and regulated in the Netherlands by De Nederlandsche Bank.

Northern Trust Global Services Limited Luxembourg Branch is authorised and regulated by the Financial Services Authority and in Luxembourg by the Commission de Surveillance du Secteur Financier (CSSF) and Northern Trust Luxembourg Management Company S.A. is regulated by the CSSF.

Northern Trust Global Services Limited - Abu Dhabi. Representative Office, Licence number 13/238/2008.

Where Northern Trust's UK entities undertake regulated business, they are authorised and regulated in the United Kingdom by the Financial Services Authority.

Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Financial Regulator.

The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.

Northern Trust Global Services Ltd (UK) Sweden Filial is a BCD Passported branch of Northern Trust Global Services Ltd a firm authorised and regulated in the UK by the Financial Services Authority ('FSA').

About Nestle Capital Advisers

Nestle Capital Advisers, established in 2006, is the one-stop shop providing the full range of pension fund services (from benefit , actuarial to investment services) mainly to the Nestle Group pension funds around the world. Nestle Capital Advisers is a wholly owned subsidiary of Nestle S.A.

EMEA, Sara Murshed, +44-(0)-207-982-2249, sm136@ntrs.com, Camilla Greene,
+44-(0)-20-7982-2176, cg81@ntrs.com, US, Canada & APAC, John O'Connell,
+1-312-444-2388, jo45@ntrs.com, Kathleen Fitzgerald, +1-312-444-3094,
kdf2@ntrs.com, all of Northern Trust

Under the agreement, Northern Trust will deploy the Equipos Coric STR software as part of its Investment Operations Outsourcing service. Coric provides a solution for complete investment management client communications including:

    --  Highly tailored and sophisticated client reporting
    --  Fund fact sheets, pitch books and other marketing collateral

    --  Support of all output formats including web reporting, video links and
        advanced graphics

The Equipos solution was created specifically for investment managers and supports complex requirements including custom branding and white-labeling, investment commentary, sophisticated graphic rendering capabilities and workflow across a broad range of client communications. In line with Northern Trust's strategic approach to delivering solutions, these capabilities will be fully integrated within Northern Trust's asset servicing platform.

"This agreement deploys our high-volume capabilities on Northern Trust's single, global technology platform, providing unmatched scale in communications support for Investment Operations Outsourcing clients," said Equipos Chief Executive Officer Alan Hamilton. "With Coric, Northern Trust can help investment managers differentiate themselves while serving their clients better through enhanced client communication across multiple channels."

Equipos is a leading international supplier of specialist client reporting, document management and business process management solutions for institutional and private client investors, and wealth managers. For more information, please visit Equipos on the Web at www.equipos.co.uk.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2009, Northern Trust had assets under custody of US$3.6 trillion, and assets under investment management of US$611 billion. For 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com.

SOURCE Northern Trust

http://www.northerntrust.com