EXHIBIT 22
NORTHERN TRUST CORPORATION SUBSIDIARIES
Percent State of
Owned Incorporation
-----------------------
The Northern Trust Company 100% Illinois
NorLease, Inc. 100% Delaware
The Northern Trust International
Banking Corp. 100% Edge Act
MFC, Inc. 100% Delaware
Nortrust Nominees, Ltd. 100% United Kingdom
The Northern Trust Company U.K.
Pension Plan, Limited 100% United Kingdom
NTB Merchant Services, Inc. 100% Illinois
The Northern Trust Company, Canada 100% Canada
Norsub Corporation 100% Delaware
Northern Trust Bank/O'Hare N. A. 100% National Bank
Northern Trust Bank/DuPage 100% Illinois
Northern Trust of Florida Corporation 100% Florida
Northern Trust Bank of Florida N. A. 100% National Bank
Subs of NTB/Florida
Realnor Properties, Inc. 100% Florida
Realnor Special Properties, Inc. 100% Florida
Realnor 177, Inc. 100% Florida
Realnor Hallendale, Inc. 100% Florida
Northern Trust Bank of Vero Beach 100% Florida
Northern Trust Cayman International, Inc. 100% Cayman Islands
Nortrust Realty Management, Inc. 100% Illinois
Nortrust of Arizona Holding Corporation 100% Arizona
Northern Trust Bank of Arizona N. A. 100% National Bank
Northern Trust Securities, Inc. 100% Delaware
Northern Investment Management Co. 100% Delaware
Northern Investment Corporation 100% Delaware
NORTHERN TRUST CORPORATION SUBSIDIARIES
(CONTINUED)
Percent State of
Owned Incorporation
-----------------------
The Northern Trust Company 100% Illinois
Transatlantic Trust Corporation 25% New Brunswick,
Canada
First Lake Forest Corporation 100% Delaware
Northern Trust Bank/Lake Forest N. A. 100% National Bank
Northern Trust Services, Inc. 100% Delaware
Northern Futures Corporation 100% Delaware
The Northern Trust Company of New York 100% New York
Northern Securities Services, Canada, Ltd. 100% Ontario, Canada
Northern Trust of California Corporation 100% Delaware
Northern Trust Bank of California N.A. 100% National Bank
Berry, Hartell, Evers & Osborne, Inc. 100% Delaware
Northern Trust Bank of Texas N. A. 76% National Bank
Fiduciary Services, Inc. 100% Texas
Tanglewood Bancshares, Inc.* 100%
*Owns 24% of Northern Trust Bank of Texas N.A.