Minister Martin officially opens new Northern Trust Ireland Headquarters in Dublin

Minister for Enterprise, Trade and Employment Micheál Martin TD today (Tuesday 3^rd October 2006) performed the official opening of Northern Trust Ireland’s headquarters in Dublin. The HQ amalgamates its two Dublin fund administration offices to further support the company’s continued business growth in offshore funds administration.

Northern trust corporation, founded in chicago in 1889, is one of the world’s leading financial services institutions. It specialises in providing asset servicing, asset management, wealth management and banking solutions to institutional and personal investors. It is one of the world’s largest global custodians and asset managers, a leading fund administrator in europe and one of the largest wealth managers in the united states. In 2000, it established a fund services division, northern trust (ireland) ltd. In dublin, which currently employs over 400 people.

Minister Martin said: “This is an exciting day for Northern Trust Corporation. It operates at the cutting edge of global financial services, and has been expanding its operations rapidly in Ireland in recent years. Just last month, I announced that Northern Trust is establishing a fund administration operation in Limerick creating up to 300 jobs, with the support of IDA Ireland. This new Dublin headquarters is testament once again to the company’s impressive track record and continuing growth and success in Ireland.”

VicHolmes, Managing Director of Northern Trust Ireland, said: “Northern Trust has had a presence in Ireland since 1990, and is now one of the largest, fastest growing fund administrators here, with expertise in servicing a broad range of fund types. In less than two years, Northern Trust has more than doubled the size of its workforce in Ireland to a current total of 400 employees. Relocating to our new headquarters at George’s Court gives us an opportunity to welcome our clients into an outstanding work environment with state-of-the-art technology facilities. Having additional space will also enable us to continue to expand our team and capabilities in Ireland.”

Northern Trust Corporation is currently administering over 550 funds from Dublin, with approximately €70 billion (US$90 billion) in assets under administration. In Ireland, Northern Trust provides the following services: Fund administration for hedge funds; private equity funds; property funds; traditional investment funds and cross-border pooling funds; investment operations outsourcing for investment managers; financial reporting; transfer agency; corporate secretarial services for traditional, hedge fund, private equity fund and property funds.

ENDS

ETE 1636

Notes to Editor

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 multi-bank holding company based in Chicago, has a growing network of 84 offices in 18 U.S. states and has international offices in 12 locations in North America, Europe and the Asia-Pacific region. As of June 30, 2006, Northern Trust had assets under custody of US$3.2 trillion, and assets under investment management of US$640 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining high-touch service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com.

Northern Trust is regulated in the United Kingdom by the Financial Services Authority. In Ireland, Northern Trust is authorised by the Irish Financial Services Regulatory Authority (Financial Regulator) under the Investment Intermediaries Act, 1995.

ENDS