Northern Funds California Tax-Exempt Fund Wins Lipper Fund Award

Northern Funds is proud to announce that its Northern California Tax-Exempt Fund (NCATX) won a Lipper Fund Award in the California Municipal Debt Funds category. Lipper ranked the fund #1 out of its peer group of 32 funds based on its risk-adjusted performance for the 5-year period ending Dec. 31, 2011. The award was presented at the 2012 Lipper Awards for Excellence ceremony, held in New York City on March 8th. The award was the sixth Northern Funds has received from Lipper since 2006.

"We are pleased to receive this recognition at a time when investors are extremely concerned about due diligence and a rigorous approach to credit within their municipal bond holdings as well as their overall portfolios," said Lloyd Wennlund, President of Northern Funds and Northern Institutional Funds. "The award underscores Northern Funds’ tradition of strength and stability in investment management as well as our disciplined, risk-managed investment philosophy.”

The fund, with assets under management of $157 million as of January 31, 2012, concentrates on California state-specific, investment-grade municipal instruments and invests in high-quality securities, primarily investment-grade debt. It is geared towards investors who want a high current income that is exempt from regular federal income tax and California state personal income tax. The fund is designed for income-oriented investors in higher tax brackets who are willing to accept some risk of principal in exchange for higher yield potential.

The Northern California Tax-Exempt Fund is managed by Eric Boeckmann, a 27-year veteran of Northern Trust.

About Northern Funds

As of January 31, 2012, Northern Funds and Northern Institutional Funds had total assets of $111.3 billion. The Northern Funds are comprised of 44 funds and the Northern Institutional Funds are comprised of 20 funds.

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 Washington, D.C. and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2011, Northern Trust had assets under custody of US$4.3 trillion, and assets under investment management of US$663 billion. For more than 122 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 or follow us on Twitter @NorthernTrust.

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