Northern Trust's Hedge Fund Monitor(TM) Solution Provides Greater Transparency for Hedge Fund Investors

LONDON, November 24 - Northern Trust (Nasdaq: NTRS) has enhanced its offering to clients
investing in hedge funds - including funds of hedge funds managers and direct
institutional investors - with the launch of a new set of compliance
monitoring capabilities that will enable clients to monitor their investments
in real time according to their own investment guideline criteria.

Criteria can be created to monitor key aspects of holdings within hedge
funds, such as: the level of portfolio diversification, liquidity risk in the
fund, investment strategy and performance attribution. Benefits include
increased automation, transparency and timeliness of information, enabling
clients to assess portfolio investments more quickly and in more detail, and
to identify areas where the portfolio is breaching guidelines so that action
may be taken if necessary.

This is the latest enhancement for clients using Northern Trust's Hedge
Fund Monitor solution, which became available through financial applications
company, youDevise Limited, in January 2008.

"As the global economic landscape continues to present challenges,
investors in hedge funds need to demonstrate effective control and
transparency over their portfolios in addition to a world-class governance
and control-focused operating environment," said Ian Headon, Northern Trust's
product manager for alternative asset administration.

"Our clients are telling us that the ability to measure liquidity and
counterparty exposures in detail is of particular importance to them. With
our newly enhanced Hedge Fund Monitor, investors in hedge funds can now
manage exposure to individual institutions acting as prime-broker, custodian,
administrator or credit provider for the hedge funds in a portfolio," Headon
said. "Equally, they can now assess - quickly and effectively - key questions
such as how much of their portfolio is invested in self-administered funds,
emerging market strategies or cash."

The core set of criteria under which assessments can be created include:

    - portfolio diversification and concentration
    - attribution and classification, e.g. investment strategy,
      counterparty exposure
    - liquidity limitations and parameters, e.g. setting a minimum
      limit to ensure that a certain proportion of a portfolio can be
      redeemed over a certain time period
    - counterparty concentration.

Peter Cherecwich, Chief Operating Officer for Corporate and Institutional
Services at Northern Trust, said, "This latest enhancement to the Northern
Trust Hedge Fund Monitor tool is in line with our strategy of managing
information for funds of hedge funds and other institutional investors with
exposure to hedge funds, including liquidity and counterparty concentration,
and enhanced levels of automation and transparency. It follows our other
recent Hedge Fund Monitor development that enables investment managers to
assess the impact of gates on their liquidity in real time, and demonstrates
our continued commitment to supporting our fund administration clients,
particularly in challenging economic times."

Northern Trust has a growing hedge fund and fund of hedge funds servicing
business, with assets under administration of US$75.5 billion as of June 30,
2009, an increase of 54 percent over the prior year. Northern Trust services
nearly 300 hedge funds worldwide, as of June 2009, and in the previous 12
months provided global operations services to more than 120 new fund launches
and transitions.

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').

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