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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950131-02-003789.txt : 20021007
<SEC-HEADER>0000950131-02-003789.hdr.sgml : 20021007
<ACCEPTANCE-DATETIME>20021007122953
ACCESSION NUMBER:		0000950131-02-003789
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20021004
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20021007

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NORTHERN TRUST CORP
		CENTRAL INDEX KEY:			0000073124
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				362723087
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05965
		FILM NUMBER:		02782945

	BUSINESS ADDRESS:	
		STREET 1:		50 S LASALLE ST
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60675
		BUSINESS PHONE:		3126306000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NORTRUST CORP
		DATE OF NAME CHANGE:	19780525
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d8k.txt
<DESCRIPTION>FORM 8-K
<TEXT>
<PAGE>


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15 (d) of the
                         Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 4, 2002
                                                 -------------------------------

                           NORTHERN TRUST CORPORATION
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                    Delaware
- --------------------------------------------------------------------------------
                 (State or other jurisdiction of incorporation)

         0-5965                                           36-2723087
- ------------------------                       ---------------------------------
(Commission File Number)                       (IRS Employer Identification No.)


Fifty South LaSalle Street, Chicago, Illinois                           60675
- --------------------------------------------------------------------------------
   (Address of principal executive offices)                           (Zip Code)


Registrant's telephone number, including area code  (312) 630-6000
                                                    ----------------------------

<PAGE>

Item 5. Other Events

     The information contained in the October 4, 2002 press release of the
registrant, reporting on expected third quarter earnings, a copy of which is
filed as Exhibit 99 hereto, is incorporated herein by reference.

Item 7. Financial Statements and Exhibits

     (c)  Exhibits:

          Exhibit 99   October 4, 2002  Press Release

                                        2

<PAGE>

                                    SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                           NORTHERN TRUST CORPORATION
                                           --------------------------
                                                  (Registrant)

Date: October 7, 2002                      By: /s/Perry R. Pero
                                               ------------------
                                                  Perry R. Pero
                                                  Vice Chairman
                                                  and Chief Financial Officer

                                        3

<PAGE>

                                  EXHIBIT INDEX

Number  Description                                                  Page Number
- ------  -----------                                                  -----------

  99    October 4, 2002 Press Release                                          5


                                        4

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>dex99.txt
<DESCRIPTION>PRESS RELEASE DATED 10/04/2002
<TEXT>
<PAGE>


                                 NEWS RELEASE                        Exhibit 99


                           Northern Trust Corporation
                             50 South LaSalle Street
                             Chicago, Illinois 60675
                    Contact: Bev Fleming, Investor Relations
                                (312) 444-7811 or
                      Katherine Sopranos, Public Relations

                   (312) 444-4281 http://www.northerntrust.com

FOR IMMEDIATE RELEASE
- ---------------------

NORTHERN TRUST CORPORATION REPORTS EXPECTED THIRD QUARTER EARNINGS OF $.43 PER
SHARE

(Chicago, October 4, 2002) Northern Trust Corporation (NASDAQ: NTRS) reported
today that it has taken a $15 million pre-tax charge ($9 million after-tax or
$.04 per share), reflecting the complete write-off of its investment in myCFO,
Inc.

Northern Trust Corporation expects to report third quarter net income per common
share of $.43 compared to $.55 per share in the third quarter of 2001. Results
in the third quarter also were impacted by a higher provision for credit losses
and lower trust fees and foreign exchange trading profits.

The third quarter provision for credit losses of $20 million reflected the
impact of recently completed Shared National Credit reviews. Net charge-offs in
the quarter were approximately $12 million. The combination of the increased
provision for credit losses and the net charge-offs increased the reserve for
credit losses at September 30, 2002 to approximately $168 million. Nonperforming
assets of approximately $110 million were comparable to the $110.6 million at
June 30, 2002.

William A. Osborn, Chairman and Chief Executive Officer stated, "We are
disappointed to report the write-off of our investment in myCFO, Inc. The third
quarter presented continuing challenges, with the persistent decline in the
equity markets and reduced capital markets activity resulting in lower trust
fees and foreign exchange trading profits. Despite the current difficult market
and economic conditions, we remain confident in our highly focused business
strategy."

<PAGE>

                           FORWARD-LOOKING STATEMENTS

     This news release may be deemed to include forward-looking statements, such
as statements that relate to Northern Trust's financial goals, dividend policy,
expansion and business development plans, business prospects and positioning
with respect to market and pricing trends, new business results and outlook,
changes in securities market prices, credit quality, planned capital
expenditures and technology spending, and the effect of any extraordinary events
and various other matters (including changes in accounting standards and
interpretations) on Northern Trust's business and results. Actual results could
differ materially from those indicated by these statements. Northern Trust
Corporation's 2001 Annual Report to Shareholders, including the section of
Management's Discussion and Analysis captioned "Factors Affecting Future
Results," and periodic reports to the Securities and Exchange Commission contain
additional information about factors that could affect actual results, including
certain economic, interest rate, market and credit risks, competitive
conditions, Northern Trust's success in executing various parts of its business
plans, technology risks, including material systems interruptions or errors, and
risks associated with changes in the regulatory framework resulting from
enactment of the Gramm-Leach-Bliley Act of 1999 and other regulatory changes and
factors. All forward-looking statements included in this news release are based
on information available at the time of the release, and Northern Trust
Corporation assumes no obligation to update any forward-looking statement.

                WEBCAST OF THIRD QUARTER EARNINGS CONFERENCE CALL

     Northern Trust's third quarter earnings conference call will be webcast
live on Wednesday, October 16, 2002. The Internet webcast opens the call to all
investors, allowing them to listen to the Chief Financial Officer's comments.
The live call will be conducted at 11 a.m. CDT and is accessible on Northern
Trust's web site at:

        http://www.northerntrust.com/aboutus/news/financial_releases.html

The only authorized rebroadcast of the live call will be available on Northern
Trust's web site beginning at approximately 2:00 p.m. CDT on October 16, 2002
until 6:00 p.m. on October 23, 2002. Participants will need Windows Mediatm
software, which can be downloaded free through Northern's web site. This
earnings release can also be accessed at the above web address.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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