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Martha Conlon Mossmartha.moss@morningstar.com
Northern Trust Selects Customized Morningstar Workstation to Serve Brokerage and Mutual Fund Divisions

CHICAGO, Apr 22, 2003 – Morningstar, Inc., a global investment research firm, today announced it is providing a customized version of the Morningstar® Advisor WorkstationSM, an online investment planning system, to support Northern Trust's brokerage and mutual fund representatives. 

"Advisor Workstation's flexibility allows us to support both our brokerage and mutual fund operations with one application," said Kent Hiemenz, director of sales for Northern Trust Securities, Inc. and Northern Funds. "Morningstar has a strong understanding of how our advisors work with clients and helped us build a customized system with an ideal selection of tools for our business." 

Northern Trust advisors now have access to Advisor Workstation's Research and Sales modules. The Research module analyzes and compares the full universe of more than 14,000 mutual funds and includes Morningstar Quicktake® Reports with complete performance, risk, underlying holdings, and expense information. The Sales module offers mutual fund hypotheticals that highlight a security's historical performance in isolation, in comparison with competing funds, or in the context of its contribution to the overall performance of a portfolio. These hypothetical reports allow advisors to incorporate underlying holdings to show performance with relevant asset allocation, sector weightings, and style diversification information.   

"Advisor Workstation's powerful portfolio tools help advisors see new possibilities for their clients and build strong investment plans," said Chris Boruff, president of Morningstar's advisor business. "We look forward to providing Northern Trust financial advisors with information, tools, and reports that will help them communicate a customized financial plan to their clients."

Morningstar Advisor Workstation is an online investment planning system that gives financial advisors all the necessary tools to conduct fundamental investment research, create sophisticated investment plans and presentations, and attract new clients. It is composed of four powerful, integrated modules: Planning, Clients & Portfolios, Research, and Sales. Advisors can purchase the entire Advisor Workstation or a combination of integrated modules that best suits their needs. The Advisor Workstation offers a standard interface with multiple portfolio accounting vendors to insure integration with all of an advisor's back-office systems. 

Currently, more than 30,000 financial advisors with 30 firms, including Merrill Lynch Investment Managers, Commonwealth Financial Network, ProEquities, NEXT Financial, Scudder Investments, and AXA Advisors, are using Advisor Workstation tools to help their clients reach their financial goals. 

About Morningstar, Inc. 
Chicago-based Morningstar, Inc. is a global investment research firm, offering an extensive line of print, software, and Internet-based products and services for individuals, financial advisors, institutions, and the media. The company is a trusted source for investment information, data, and analysis of stocks, mutual funds, separate accounts, 529 plans, exchange-traded funds, closed-end funds, and variable annuity/life subaccounts.

About Northern Trust  
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of global financial solutions for the investment management, asset administration, fiduciary and banking needs of affluent individuals and corporations and institutions. Northern Trust, a multi-bank holding company based in Chicago, has a growing network of offices in 12 states, international offices in five countries and more than 9,300 employees worldwide. As of December 31, 2002, Northern Trust had trust assets under administration of $1.5 trillion, assets under investment management of $302.5 billion and banking assets of nearly $40 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining high-touch service and expertise with innovative products and services. For more information, visit www.northerntrust.com.

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