Northern Trust Named Custodian for Employees' Retirement System of the Puerto Rico Electric Power Authority

Northern Trust announced today it has been selected to provide asset servicing for the Employees' Retirement System of the Puerto Rico Electric Power Authority (ERS-PREPA), a public pension plan covering more than 18,000 active and retired members. Services include custody, accounting, compliance monitoring and securities lending for the $1.5 billion fund.

"Northern Trust has proven expertise with the public sector and a strong client service model that was made evident throughout the selection process," said Otoniel Cruz, Administrator for ERS-PREPA. "The team's depth of experience combined with Northern Trust's robust technology platform will provide us with the tools necessary to make responsible investment decisions regarding our employees' retirement assets. Specifically, the Passport(R) reporting system and compliance monitoring capabilities were very important to our decision."

"Sophisticated public fund clients such as ERS-PREPA call for top-notch service and technology," said Jon Dunham, head of North America asset servicing sales for Northern Trust. "They will utilize our daily portfolio reports, industry expertise and other leading capabilities to effectively manage employee investments."

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a multibank holding company based in Chicago, has a growing network of 85 offices in 18 U.S. states and has international offices in 15 locations in North America, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2008, Northern Trust had assets under custody of US$4.0 trillion, and assets under investment management of US$778.6 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com.

SOURCE Northern Trust

http://www.northerntrust.com

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