2008 Capital Gains Distribution

Institutional Funds
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Northern Institutional Fund prospectuses dated April 1, 2011 are now available. Review and download the latest prospectuses for all Equity, Fixed Income and Money Market portfolios.

At least once a year, mutual funds must distribute to shareholders any capital gains realized from selling securities within the portfolios. In 2008, distribution dates were:

	Record Date	Payable Date

Northern Institutional Funds	December 19	December 22
Northern Institutional Global Tactical Asset Allocation Portfolio**	December 23	December 24

The table below lists per share distribution amounts—dividends and short- and long-term gains—for Class A, C and D shares of Northern Institutional Funds. These amounts will also be reported on year-end statements.

Northern Institutional Portfolios	Class	Fund Prefix	Ticker	Dividend	Long-Term Gain	Short-Term Gain
Diversified Growth	A	812	BDVAX	0.081072	None	None
	C	824	- - - - -	None	None	None
	D	835	- - - - -	0.058612	None	None
Equity Index	A	813	BEIAX	0.033811	0.611723	None
	C	825	BEICX	0.032073	0.611723	None
	D	836	BEIDX	0.030983	0.611723	None
Focused Growth	A	811	BFGAX	0.066357	None	None
	C	823	BFGCX	0.030759	None	None
	D	834	BFGDX	0.017173	None	None
Global Tactical Asset Allocation**	A	820	BBALX	0.063098	None	None
	C	831	BBCCX	0.061667e	None	None
	D	842	BBADX	0.060776	None	None
International Equity Index	A	850	BIEIX	0.243978	0.372237	None
	C	851	- - - - -	None	0.372237	None
	D	852	- - - - -	0.218954	0.372237	None
International Growth	A	821	BIGAX	0.252284	None	None
	C	832	- - - - -	None	None	None
	D	843	- - - - -	0.213612	None	None
Mid Cap Growth	A	880	BMGRX	None	None	None
	C	881	- - - - -	None	None	None
	D	882	- - - - -	None	None	None
Small Company Growth	A	853	BSGRX	None	None	None
	C	854	- - - - -	None	None	None
	D	855	- - - - -	None	None	None
Small Company Index	A	814	BSCAX	0.212455	None	None
	C	826	- - - - -	None	None	None
	D	837	- - - - -	0.141374	None	None
Bond	A	818	BBPAX	0.070605	None	None
	C	830	BBPCX	0.066645	None	None
	D	841	BBPDX	0.064572	None	None
Core Bond	A	883	NOCBX	0.040159	None	None
	C	884	NCOCX	0.036593	None	None
	D	885	NOCDX	0.035876	None	None
Intermediate Bond	A	856	NIBAX	0.066198	None	None
	C	857	- - - - -	None	None	None
	D	858	NOIDX	0.057659	None	None
Short Bond	A	817	BSBAX	0.049993	None	None
	C	829	- - - - -	None	None	None
	D	840	BSDAX	0.044460	None	None
U.S. Government Securities	A	816	BUSAX	0.049846	None	None
	C	828	- - - - -	None	None	None
	D	839	BUSDX	0.043599	None	None
U.S. Treasury Index	A	815	BTIAX	0.073640	0.013688	None
	C	827	BUTCX	0.069344	0.013688	None
	D	838	BUTDX	0.066419	0.013688	None

Payment or reinvestment of these distributions will be made based on the instructions each individual shareholder has given us. The final distribution will be reported on Northern Institutional Funds’ year-end statements.

If you have any questions about these distributions, please contact your Relationship Consultant or call the Northern Institutional Funds Center at 800/637-1380 weekdays from 7:00 a.m. to 7:00 p.m. Central time.

* Portfolios are part of the Northern Institutional Funds family of mutual funds. Funds are part of the Northern Funds family of mutual funds. Northern Institutional Funds and Northern Funds are separately registered investment companies.

** Northern Institutional Global Tactical Asset Allocation Portfolio has a period ending Record Date of December 23 and a Payable and Reinvest date of December 24.

Not FDIC insured | May lose value | No bank guarantee

Please carefully read the prospectus and summary prospectus and consider the investment objectives, risks, charges and expenses of Northern Funds and Northern Institutional Funds before investing. Call 800-637-1380 to obtain a prospectus and summary prospectus, which contains this and other information about the funds.

©2012 Northern Institutional Funds | Northern Funds and Northern Institutional Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.

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