Northern Trust Acquires Lakepoint Investment Partners

Northern Trust Bank, FSB will acquire Lakepoint Investment Partners LLC of Cleveland, Ohio, an investment management firm serving individual investors, corporations, pension and retirement programs, and foundations and endowments. The acquisition is expected to close 30 September 2008 subject to

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Northern Trust Bank, FSB will acquire Lakepoint Investment Partners LLC of Cleveland, Ohio, an investment management firm serving individual investors, corporations, pension and retirement programs, and foundations and endowments. The acquisition is expected to close 30 September 2008 subject to regulatory approvals and other customary closing conditions.

“We are delighted to announce a significant expansion of our presence in Cleveland with the acquisition of one of the citys most-respected investment firms,” says Frederick H. Waddell, Northern Trusts president and CEO. “Lakepoint Investment Partners is highly regarded and an excellent fit with Northern Trust because of its strong commitment to excellence in execution with an emphasis on building trusted relationships with clients.”

Lakepoint Investment Partners co-owners Mary Lynn Laughlin and Douglas Wang, as well as Joe Thomas will join Northern Trust as senior vice presidents in Cleveland. Lakepoints clients and staff will be fully integrated into Northern Trust.

“Mary Lynn and Doug have built a thriving business with loyal clients through their dedication to personalized portfolio management, with solid long-term investment performance and exceptional service,” says Michael Cogan, Northern Trust president and CEO Ohio. “Their expertise in creating high-quality and tax-efficient portfolios complements our asset management philosophy. And, our partnership will provide expanded investment resources to Lakepoints clients and allow them to take advantage of Northern Trusts banking services and trust capabilities.”

“Northern Trust is a premier wealth management firm and a terrific fit for our clients,” says Mary Lynn Laughlin of Lakepoint Investment Partners. “We are thrilled to join a firm with global asset management and asset servicing capabilities that has a 119-year heritage of financial strength, stability and unparalleled client service. Northern Trust has the expertise and array of products to meet our clients complex needs, now and in the future.”

With $586 million under management, Lakepoint Investment Partners invests predominately in large capitalization growth stocks and investment-grade fixed income securities to develop custom portfolios that balance clients needs for growth, preservation of capital and income.

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