Northern Trust reaffirmed that the corporation has no outstanding loans to Lehman, and that Northern Trust does not hold any Lehman securities in its balance sheet investment portfolio.

Northern Trust's money market mutual funds, known as "2a-7" funds, used primarily by individual and institutional investors, also have no exposure to Lehman. The funds continue to invest in high quality, short duration securities, and fund shareholders continue to have full access to their investments.

Regarding exposure to Lehman equity securities, client funds managed by Northern Trust held approximately 7 million shares of common stock at the time of its bankruptcy filing. These funds were managed primarily under investment mandates designed to replicate indices that included Lehman as a component. Subsequent to Lehman's bankruptcy and removal from these indices, this position has been reduced to less than 300,000 shares. In total, Northern Trust manages $236 billion in index funds.

Commingled fixed income funds, managed almost exclusively on behalf of institutional clients, hold approximately $821 million in Lehman short- and long-term fixed income securities. These represent less than two-tenths of 1 percent of total short- and long-term fixed income investments managed by Northern Trust on behalf of clients.

"We continue to work closely with our clients to explore options to help them navigate today's challenging markets," Waddell said.

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 June 30, 2008, Northern Trust had assets under custody of US$4.0 trillion, and assets under investment management of US$751.4 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 Corporation

http://www.northerntrust.com

The live audio webcast of each presentation can be accessed via Northern Trust's website at http://www.northerntrust.com/presentations. The slides used in each presentation will also be available on the company's website. A replay of the presentation webcasts will be accessible until October 11, 2008.

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 June 30, 2008, Northern Trust had assets under custody of US$4.0 trillion, and assets under investment management of US$751.4 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 Corporation

http://www.northerntrust.com

Money market funds are usually considered safe investments, but net asset values have come under pressure as panicked investors have pulled out their money. Some funds have fallen below a net asset value of $1 -- known as breaking the buck -- in recent weeks.

Northern Trust, a Chicago-based asset manager with $751.4 billion under management, also said it will provide support to securities-lending clients that have cash collateral invested in certain of its funds that have been affected by the credit crisis.

It is also buying back certain illiquid auction rate securities. Regulators have been investigating how such securities were marketed and whether investors were misled into believing the instruments were as liquid as cash.

In total, these actions will cost Northern Trust $328 million after taxes, or $1.46 per share, in the third quarter.

(Reporting by Elinor Comlay; editing by John Wallace) Keywords: NORTHERNTRUST/ Ryan Vlastelica rv

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Participants will need Windows Media software, which can be downloaded free through Northern Trust's web site. Northern Trust's third quarter 2008 earnings press release can also be accessed at the above web address that day.

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 June 30, 2008, Northern Trust had assets under custody of US$4.0 trillion, and assets under investment management of US$751.4 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 Corporation

http://www.northerntrust.com