Annual Expense Ratios

Northern Institutional Funds	Gross Expenses	Net Expenses¹
Equity Portfolios
Emerging Markets Equity	0.77%	0.77%

Technology	1.38%	1.25%

Global Real Estate Index	0.77%	0.65%

Global Sustainability Index	0.83%	0.65%

International Growth
Class A	1.19%	1.06%
Class C	1.43%	1.30%
Class D	1.58%	1.45%

Multi-Manager International Equity	1.48%	1.45%

International Equity Index
Class A	0.57%	0.41%
Class C	0.81%	0.65%
Class D	0.96%	0.80%

Small Company Growth
Class A	5.48%	0.92%
Class C	5.72%	1.16%
Class D	5.87%	1.31%

Small Cap Value	1.24%	1.00%

Multi-Manager Small Cap	1.54%	1.40%

Small Company Index
Class A	0.54%	0.31%
Class C	0.78%	0.55%
Class D	0.93%	0.70%

Mid Cap Growth
Class A	2.7%	0.92%
Class C	3.02%	1.16%
Class D	3.17%	1.31%

Multi-Manager Mid Cap	1.29%	1.20%

Focused Growth
Class A	1.06%	0.86%
Class C	1.30%	1.10%
Class D	1.45%	1.25%

Diversified Growth
Class A	1.07%	0.76%
Class C	1.31%	1.00%
Class D	1.46%	1.15%

Large Cap Value	1.18%	1.10%

Multi-Manager Large Cap	1.33%	1.20%

Enhanced Large Cap	0.78%	0.60%

Equity Index
Class A	0.25%	0.21%
Class C	0.49%	0.45%
Class D	0.64%	0.60%

Global Tactical Allocation (formerly Balanced)
Class A	0.86%	0.61%
Class C	1.10%	0.85%
Class D	1.25%	1.00%

Fixed Income Portfolios
High Yield Fixed Income	1.00%	0.90%

High Yield Municipal	0.98%	0.85%

Tax-Exempt	0.86%	0.75%

Bond
Class A	0.55%	0.36%
Class C	0.79%	0.60%
Class D	0.94%	0.75%

Core Bond
Class A	0.57%	0.36%
Class C	0.81%	0.60%
Class D	0.96%	0.75%

Intermediate Tax-Exempt	0.85%	0.75%

U.S. Treasury Index
Class A	0.55%	0.26%
Class C	0.79%	0.50%
Class D	0.94%	0.65%

Intermediate Bond
Class A	0.78%	0.36%
Class C	1.02%	0.60%
Class D	1.17%	0.75%

Short Bond
Class A	0.56%	0.36%
Class C	0.80%	0.60%
Class D	0.95%	0.75%

U.S. Government Securities
Class A	0.63%	0.36%
Class C	0.87%	0.60%
Class D	1.02%	0.75%

Money Market Portfolios
Diversified Assets
Shares	0.37%	0.35%
Service Shares	0.63%	0.61%
Premier Shares	0.89%	0.87%

Government
Shares	0.37%	0.35%
Service Shares	0.63%	0.61%
Premier Shares	0.89%	0.87%

Government Select
Shares	0.32%	0.20%
Service Shares	0.58%	0.46%
Premier Shares	0.84%	0.72%

Tax-Exempt
Shares	0.38%	0.35%
Service Shares	0.64%	0.61%
Premier Shares	0.90%	0.87%

Municipal
Shares	0.32%	0.20%
Service Shares	0.58%	0.46%
Premier Shares	0.84%	0.72%

Prime Obligations
Shares	0.26%	0.15%
Service Shares	0.52%	0.41%
Premier Shares	0.78%	0.67%

¹Includes voluntary fee waivers and expense reimbursements by Northern Institutional Funds' investment advisers and co-administrators that may change or end at any time. Also includes contractual expense reimbursements by Northern Trust Investments, N.A., as a co-administrator, that, if not extended, will end on April 30, 2009.



		Special Features

		Northern Institutional Fund prospectuses dated April 1, 2008 are now available. Review and download the latest prospectuses for all Equity, Fixed Income and Money Market portfolios.

Northern Funds

Not FDIC insured

May lose value

No bank guarantee

Shares of Northern Institutional Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.

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