© 2009 Northern Trust Corporationnortherntrust.com FALL FOCUS 2009 INVESTMENT CONFERENCE Matthew Peron Director of Equity Research, NTGI Equity Research Overview

Fall FOCUS Investment Conference Equity Research Platform Mission: Provide Independent Fundamental Analysis  Industry & Company Analysis  Security Selection Team of Experienced Analysts  Typically have many years of experience in their sector  Focus on primary research

Fall FOCUS Investment Conference Equity Research Process Monthly Sector Overview Quarterly Investment Thesis Update Fundamental Proprietary Fundamental Research Thematic Reports Superior Company & Industry Knowledge Team of Experienced Sector Specialists FOCUS Research

Fall FOCUS Investment Conference An Experienced Team of Sector Specialist EnteredJoined NameTitleIndustryFirm Matthew Peron Director of Equity Research, NTGI AnalystsIndustry Coverage Ellen Baras Consumer: Staples, Specialty Retail and Softlines Marty Bukoll, JD.Healthcare: Pharmaceuticals, Biotechnology Michael Drucker Health Care: Services, Medical Devices and Supplies Alec Harrell, CFA Financials: Insurance, Asset Managers, REITs Jackson Hockley, CFA Energy Bill Hurley, CFA Utilities, Alt. Energy & Technology: Semiconductors and Handsets William Hyatt, CFA Media, Leisure, Entertainment, Business Services Deborah Koch, CFA Technology: Hardware, Communication Equipment, and Software Christopher Shipley Financials: Banks, Brokers, Specialty Sunitha Thomas, CFA Diversified Industrials Edward Trafford, CFA Materials, Machinery, Transports Brett Varchetto Consumer: Hardlines, Restaurants Average Years in Industry 18 NTGI Equity Research Department Independent, nonbiased, fundamental process with proprietary financial projections

© 2009 Northern Trust Corporationnortherntrust.com FALL FOCUS 2009 INVESTMENT CONFERENCE Matthew Peron Director of Equity Research, NTGI Thank you.