Northern Lights Fund Trust Announces Distributions

The Board of Trustees of Northern Lights Fund Trust, a multi-series registered investment company (the “Trust”), declared dividends from net investment income and/or capital gains distributions indicated below for the year ended December 31, 2008, with respect to each series of the Trust, payable on the “Payable Date” to shareholders of record at the close of business on the “Record Date,” as further indicated below.

Security Description (Fund Name)		CUSIP		Ticker Symbol		Record Date		Ex-Dividend Date		Payable Date		Total Distribution Per Share		Income Dividends		Short-term Capital Gain		Total Ordinary Dividends		Total LT Capital Gain Distr.
NLFT: Sierra Core Retirement Fund, Class A		66537T570		SIRAX		12/30/2008		12/31/2008		1/1/2009		0		0		0		0		0
NLFT: Sierra Core Retirement Fund, Class I		66537T562		SIRIX		12/30/2008		12/31/2008		1/1/2009		0.0517		0.0517		0		0.0517		0
NLFT: Sierra Core Retirement Fund, Class R		66537T554		SIRRX		12/30/2008		12/31/2008		1/1/2009		0.0762		0.0762		0		0.0762		0
NLFT: Sierra Core Retirement Fund, Class A		66537T570		SIRAX		9/29/2008		9/30/2008		10/1/2008		0		0		0		0		0
NLFT: Sierra Core Retirement Fund, Class I		66537T562		SIRIX		9/29/2008		9/30/2008		10/1/2008		0.0267		0.0267		0		0.0267		0
NLFT: Sierra Core Retirement Fund, Class R		66537T554		SIRRX		9/29/2008		9/30/2008		10/1/2008		0.0488		0.0488		0		0.0488		0
NLFT: Sierra Core Retirement Fund, Class A		66537T570		SIRAX		6/27/2008		6/30/2008		7/1/2008		0		0		0		0		0
NLFT: Sierra Core Retirement Fund, Class I		66537T562		SIRIX		6/27/2008		6/30/2008		7/1/2008		0.0305		0.0305		0		0.0305		0
NLFT: Sierra Core Retirement Fund, Class R		66537T554		SIRRX		6/27/2008		6/30/2008		7/1/2008		0.0309		0.0309		0		0.0309		0
NLFT: Sierra Core Retirement Fund, Class A		66537T570		SIRAX		3/28/2008		3/31/2008		4/1/2008		0		0		0		0		0
NLFT: Sierra Core Retirement Fund, Class I		66537T562		SIRIX		3/28/2008		3/31/2008		4/1/2008		0		0		0		0		0
NLFT: Sierra Core Retirement Fund, Class R		66537T554		SIRRX		3/28/2008		3/31/2008		4/1/2008		0.0934		0.0934		0		0.0934		0
NLFT: Biltmore Index Enhancing Fund, Class A		66537T877		BLTAX		12/29/2008		12/30/2008		12/30/2008		0.02		0.02		0		0.02		0
NLFT: Biltmore Momentum/Dynamic ETF Fund, Class A		66537T539		ETFMX		12/29/2008		12/30/2008		12/30/2008		0.115		0.115		0		0.115		0
NLFT: PATHMASTER Domestic Equity Fund, Class A		66537T497		PDEAX		12/29/2008		12/30/2008		12/30/2008		0.12		0		0		0		0.12
NLFT: PATHMASTER Domestic Equity Fund, Class C		66537T489		PDECX		12/29/2008		12/30/2008		12/30/2008		0.12		0		0		0		0.12
NLFT: PATHMASTER Domestic Equity Fund, Class I		66537T471		PDEIX		12/29/2008		12/30/2008		12/30/2008		0.12		0		0		0		0.12
NLFT: Leader Short Term Bond Fund Class A		66537T232		LCCMX		12/26/2008		12/29/2008		12/29/2008		0.051		0.051		0		0.051		0
NLFT: Leader Short Term Bond Fund Institutional Shares		66537T224		LCCIX		12/26/2008		12/29/2008		12/29/2008		0.033		0.033		0		0.033		0
NLFT: Leader Short Term Bond Fund Class A		66537T232		LCCMX		9/11/2008		9/12/2008		9/12/2008		0.05		0.05		0		0.05		0
NLFT: Leader Short Term Bond Fund Class A		66537T232		LCCMX		6/13/2008		6/16/2008		6/16/2008		0.03623745		0.0362		0.08242		0.11862		0
NLFT: Leader Short Term Bond Fund Class A		66537T232		LCCMX		4/16/2008		4/17/2008		4/17/2008		0.02998087		0.02998087		0		0.02998087		0
NLFT: Leader Short Term Bond Fund Class A		66537T232		LCCMX		3/14/2008		3/17/2008		3/17/2008		0.03		0.03		0		0.03		0
NLFT: Leader Short Term Bond Fund Class A		66537T232		LCCMX		2/14/2008		2/15/2008		2/15/2008		0.05		0.05		0		0.05		0
NLFT: Leader Short Term Bond Fund Class A		66537T232		LCCMX		1/14/2008		1/15/2008		1/15/2008		0.03		0.03		0		0.03		0
NLFT: Palantir Fund		66537T810		PALIX		12/22/2008		12/23/2008		12/23/2008		0.093		0.093		0		0.093		0
NLFT: Pacific Financial Tactical Fund Institutional Shares		66537T695		PFGTX		12/29/2008		12/30/2008		12/30/2008		0.1382		0.1382		0		0.1382		0
NLFT: Pacific Financial Strategic Conservative Fund Institutional Shares		66537T729		PFGSX		12/29/2008		12/30/2008		12/30/2008		0.137		0.137		0		0.137		0
NLFT: EAS Genesis Fund - Class A		66537T455		EASAX		12/29/2008		12/30/2008		12/30/2008		0.0559		0.0559		0		0.0559		0
NLFT: EAS Genesis Fund - Class C		66537T448		EASYX		12/29/2008		12/30/2008		12/30/2008		0.0462		0.0462		0		0.0462		0
NLFT: EAS Genesis Fund - Class I		66537T414		EASIX		12/29/2008		12/30/2008		12/30/2008		0.0578		0.0578		0		0.0578		0
NLFT: Wade Core Destinations		66537T257		WADEX		12/29/2008		12/30/2008		12/30/2008		0.0196		0.0196		0		0.0196		0
NLFT: Arrow Alternative Solutions Fund, Class A		66537T661		ASFFX		12/28/2008		12/30/2008		12/30/2008		0.215456		0.215456		0		0.215456		0
NLFT: Arrow Alternative Solutions Fund, Class C		66537T679		ASFTX		12/28/2008		12/30/2008		12/30/2008		0.16827		0.16827		0		0.16827		0
NLFT: Arrow DWA Balanced Fund, Class A		66537T802		DWAFX		12/29/2008		12/30/2008		12/30/2008		0.060118		0.060118		0		0.060118		0
NLFT: Arrow DWA Balanced Fund, Class C		66537T885		DWATX		12/29/2008		12/30/2008		12/30/2008		0.005065		0.005065		0		0.005065		0
NLFT: Arrow DWA Tactical Fund, Class A		66537T521		DWTFX		12/29/2008		12/30/2008		12/30/2008		0.031003		0.031003		0		0.031003		0
NLFT: Arrow DWA Tactical Fund, Class C		66537T513		DWTTX		12/29/2008		12/30/2008		12/30/2008		0.014088		0.014088		0		0.014088		0
NLFT: Changing Parameters Fund		66537T851		CPMPX		12/26/2008		12/29/2008		12/29/2008		0.0441		0.0439		0		0.0439		0.0002
NLFT: Jacobs & Company Mutual Fund		66537T109		JACOX		12/30/2008		12/31/2008		12/31/2008		0.0740		0.0740		0		0.0740		0
NLFT: Autopilot Managed Growth Fund		66537T844		AUTOX		12/26/2008		12/29/2008		12/29/2008		1.6225		0		0.1578		0.1578		1.4647
NLFT: Anchor Multi-Strategy Growth Fund		66537T547		AMSGX		12/26/2008		12/29/2008		12/29/2008		0.1004		0.1004		0		0.1004		0
NLFT: Free Enterprise Action Fund		66537T463		FEAOX		12/30/2008		12/31/2008		12/31/2008		0.0592		0.0592		0		0.0592		0
NLFT: Generations Multi-Strategy Fund		66537T281		GMSFX		12/18/2008		12/19/2008		12/22/2008		0.0245		0.0245		0		0.0245		0
NLFT: SouthernSun Small Cap Fund		66537T190		SSSFX		12/19/2008		12/22/2008		12/23/2008		0.1800		0		0.0945		0.0945		0.0855
NLFT: KCM Macro Trends Fund, Class R-1		66537T430		KCMTX		12/29/2008		12/30/2008		12/30/2008		0.0774		0.0774		0		0.0774		0
NLFT: Oxford Global Total Return Fund, Class A		66537T273		OXGAX		12/26/2008		12/29/2008		12/29/2008		0.0465		0.0465		0		0.0465		0

Mutual Funds involve risk including possible loss of principal.

SIERRA CORE RETIREMENT FUND

An investor should consider the Fund’s investment objective, risks, charges, and expenses carefully before investing. This and other information about the Sierra Core Retirement Fund is contained in the Fund’s prospectus, which can be obtained on our website www.SierraCoreFund.com or by calling 1-866-738-4363 (1-866-RETI-FND). Please read the prospectus carefully before investing. Distributed by Northern Lights Fund Distributors, LLC, member NASD/SIPC.

BILTMORE FUNDS

Investors should consider the investment objectives, risks, charges and expenses of the Biltmore Funds carefully before investing. The prospectus contains this and other information about the funds and should be read carefully before investing. A prospectus for these funds can be obtained by calling 866-722-1677. The Biltmore Funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

WAYNE HUMMER SMALL CAP CORE FUND/PATHMASTER DOMESTIC EQUITY FUND

Investors should carefully consider the investment objectives, risks, charges and expenses of the Wayne Hummer Small Cap Core Mutual Fund or the PATHMASTER Domestic Equity Fund. This and other important information about the funds is contained in the prospectus, which can be obtained by calling 312.431.6754. The prospectus should be read carefully before investing. These funds are distributed by Northern Lights Distributors, LLC member FINRA/SIPC.

LEADER

An investor should consider the Fund’s investment objective, risks, charges, and expenses carefully before investing. This and other information about the Leader Short Term Bond Fund is contained in the Fund’s prospectus, which can be obtained on our website www.Leadercapital.com or by calling 1-800-711-9164. Please read the prospectus carefully before investing. Distributed by Foreside Distribution Services LLC, member NASD/SIPC.

PALANTIR FUND

An investor should also consider the Fund's investment objective, charges, expenses, and risk carefully before investing. This and other information about the Fund is contained in the fund's prospectus, which can be obtained at www.palantirfunds.com or by calling 1-866-97-PALIX (1-866-977-2549).

Please read the prospectus carefully before investing. Distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

PACIFIC FINANCIAL TACTICAL FUND

An investor should carefully consider the investment objective, risks, charges, and expenses of the Pacific Financial family of Funds before investing. This and the information about the Pacific Financial family of Funds is contained in the prospectus, which can be obtained by calling 1-800-451-TPFG. Please read the prospectus carefully before investing. The Pacific Financial Family of Funds is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

EAS GENESIS FUND

An investor should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. This and other information about the EAS Genesis Fund is contained in the Fund’s prospectus, which can be obtained by calling 1-877-EAS-0757 (1-877-327-0757). Please read the prospectus carefully before investing. The Fund is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

WADE CORE DESTINATIONS

Investors should carefully consider the investment objectives, risks, charges and expenses of the Wade Core Destinations Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-866-950-6WFG. The prospectus should be read carefully before investing. The Wade Core Destinations Fund is distributed by Northern Lights Distributors, LLC member FINRA/SIPC.

ARROW FUNDS

An investor should consider the Fund's investment objective, risks, charges, and expenses carefully before investing. This and other information about the Arrow Funds is contained in the funds’ prospectus, which can be obtained by calling 1-877-Arrow-FD (877-277-6933). Please read the prospectus carefully before investing. The funds are distributed by Northern Lights Distributors, LLC Member FINRA/SIPC.

CHANGING PARAMETERS FUND

An investor should consider the Fund's investment objective, risks, charges, and expenses carefully before investing. This and other information about the Fund is contained in the Fund's prospectus, which can be obtained by calling 1-866-618-3456. Please read the prospectus carefully before investing. The Fund is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

JACOBS&COMPANY MUTUAL FUND

An investor should consider the Fund's investment objective, risks, charges, and expenses carefully before investing. This and other information about the Fund is contained in the fund's prospectus, which can be obtained by calling 1-877-560-6823. Please read the prospectus carefully before investing. The fund is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

AUTOPILOT MANAGED GROWTH FUND

An investor should also consider the Fund's investment objective, charges, expenses, and risk carefully before investing. This and other information about the Fund is contained in the fund's prospectus, which can be obtained at www.autopilotfunds.com or by calling 1-866-828-8674. Please read the prospectus carefully before investing. Distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

ANCHOR MULTI-STRATEGY GROWTH FUND

An investor should consider the Fund’s investment objective, risks, charges, and expenses carefully before investing. This and other information about the fund can be obtained by calling 1-888-482-2200. Please read the prospectus carefully before investing. The fund is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

FREE ENTERPRISE ACTION FUND

An investor should consider the fund's investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the Free Enterprise Action Fund can be found in the fund's prospectus. To obtain a prospectus, please call 1-800-766-3960. Please read the prospectus carefully before investing. The Fund is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

GENERATIONS MULTI-STRATEGY FUND

Investors should carefully consider the investment objectives, risks, charges and expenses of the Generations Multi-Strategy Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-877-238-2406. The prospectus should be read carefully before investing. The Generations Multi-Strategy Fund is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

SOUTHERN SUN SMALL CAP FUND

Investors should carefully consider the investment objectives, risks, charges and expenses of the SouthernSun Funds. This and other information about the Funds is contained in the prospectus and should be read carefully before investing. The prospectus can be obtained by calling toll free 1-866-672-3863. The SouthernSun Funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

KCM MACRO TRENDS FUND

Investors should carefully consider the investment objectives, risks, charges and expenses of the KCM Macro Trends Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-877-275-5599. The prospectus should be read carefully before investing. The KCM Macro Trends Fund is distributed by Northern Lights Distributors, LLC member FINRA/SIPC.

OXFORD GLOBAL RETURN FUND

Investors should carefully consider the investment objectives, risks, charges and expenses of the Oxford Global Total Return Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-877-350-8668. The prospectus should be read carefully before investing. The Oxford Global Total Return Fund is distributed by Northern Lights Distributors, LLC member FINRA/SIPC.

0088-NLD-1/23/2009