Northern Trust to Provide Asset Servicing Solution for Nestle's New Cross-Border Pooled Fund

Tax-transparent fund maximises assets of multinational pension funds, improves performance and lowers costs

LONDON, November 16 - Northern Trust (Nasdaq: NTRS) has been selected by Nestle to provide an
asset servicing solution for its new Common Contractual Fund (CCF). Services
that will be provided by Northern Trust include custody, fund administration
and performance reporting. In addition, Northern Trust provided project
management, and tax and legal experts who assisted in the fund's successful
launch.

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