|Diversified Assets PortfolioMoney MarketBDAXX||Commentary|
|Municipal PortfolioMoney MarketNMUXX||Commentary|
|Prime Obligations PortfolioMoney MarketNPAXX||Commentary|
|Tax-Exempt PortfolioMoney MarketBTEXX||Commentary|
|Treasury PortfolioMoney MarketNITXX||Commentary|
|U.S. Government PortfolioMoney MarketBNGXX||Commentary|
|U.S. Government Select PortfolioMoney MarketBGSXX||Commentary|
Please carefully read the prospectus and summary prospectus and consider the investment objectives, risks, charges and expenses of 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.
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