Northern Trust Target Date Funds Selected by Sprint Nextel 401(k) Plan

CHICAGO, Feb. 25 /PRNewswire-FirstCall/ -- Northern Trust announced today that its target date retirement funds, Northern Trust Focus Funds, have been selected as an investment option for the Sprint Nextel 401(k) Plan. These collective trust funds are designed to provide efficient, globally diversified stock and bond exposure with inflationary hedge asset classes for investors at each stage of the retirement planning lifecycle.

"The Northern Trust Focus Funds leverage our long heritage in asset allocation and index investment management to create a sophisticated and cost-effective retirement savings solution," said Stephen N. Potter, President of Northern Trust Global Investments (NTGI), the asset management arm of Northern Trust.

Northern Trust Focus Funds systematically adapt portfolio allocations over a period of time with strategies that roll down a "glide path" from aggressive to conservative investments, aligning appropriate risk levels with the participant's approximate target retirement date. The funds are offered in five-year increments for retirement dates 2010 through 2055, with an Income Fund more heavily weighted in fixed income securities to add stability and generate income for those participants closely approaching or in retirement.

Northern Trust Focus Funds qualify as a default investment option for defined contribution retirement plan, so participants who do not select an investment option can automatically be invested in the age-appropriate Focus Fund based on a target retirement age of 65. Northern Trust's glide path is designed to support the U.S. Department of Labor's desire for plan sponsors to provide well-diversified Qualified Default Investment Alternatives for defined contribution plans. In addition to inflationary hedge allocations, comprised of global real estate, commodities and U.S. Treasury Inflation-Protected Securities, the Northern Trust glide path provides for a meaningful allocation to fixed income securities at every stage.

"Northern Trust has been developing asset allocations over the last 30 years for wealth, personal and institutional clients. Our solutions for the defined contribution marketplace are a natural extension of that expertise," said John Krieg, NTGI's director of Global Product Investment Management. "The glide path for our target date funds is based on strategic global capital market assumptions used to guide investment portfolios of institutions and high net-worth individuals. Their structure as collective funds is highly efficient and capitalizes on $100 billion in assets already invested in the underlying individual component strategies across 11 different asset classes, through a fund of funds structure. With this strong combination, we seek to bring Northern Trust's defined benefit discipline and efficiency to defined contribution investing."

Northern Trust Global Investments (NTGI) is the multi-asset class investment management business of Northern Trust Corporation. NTGI comprises Northern Trust Investments, N.A., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., the investment advisor division of The Northern Trust Company and Northern Trust Global Advisors and its subsidiaries.

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 December 31, 2009, Northern Trust had assets under custody of US$3.7 trillion, and assets under investment management of US$627.2 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.

SOURCE Northern Trust Corporation

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