Neuberger Berman Equity Income Fund Celebrates Five-Year Anniversary

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Morningstar 5-Star Rated Fund Ranks in Top 1% of Category Since Inception

NEW YORK--(BUSINESS WIRE)-- Neuberger Berman Group LLC, one of the world’s leading employee-owned money managers, is celebrating the five-year anniversary of its Neuberger Berman Equity Income Fund (“the Fund”, tickers: NBHAX, NBHCX, NBHIX, NBHRX), introduced November 2, 2006. The Fund has grown to approximately $1.5 billion in assets as of September 30, 2011.

Neuberger Berman Equity Income Fund has a rating of 5 stars both overall and for the past three years as of September 30, 2011 from Morningstar Inc., the fund-tracking organization’s highest rating, from a universe of 354 funds. Based on its performance, Morningstar ranks the Fund in the top 1% of the mid-cap value category since inception for the period ended September 30, 2011, from a universe of 256 funds. Morningstar also ranks the Fund in the top 4% for the three years through September 30, 2011, from a universe of 354 funds, and in the top 2% year-to-date through the end of September from a universe of 433 funds. (Figures exclude sales loads.)

(For additional ranking information for all share classes, please visit www.nb.com/MutualFundPerformance.aspx.)

The Fund has been managed since its inception by veteran portfolio managers Tony Gleason, Richard S. Levine and Alexandra (Sandy) Pomeroy, managing directors and also senior members of the MLG Group, one of more than 40 distinctive investment teams within Neuberger Berman. In total, the MLG Group currently manages nearly $6.1 billion in U.S. and global equity strategies for institutions and individuals, including the U.S.-registered Neuberger Berman Equity Income Fund, certain foreign assets, and Neuberger Berman Global Thematic Opportunities Fund (tickers: NGHAX, NGHCX, NGHIX), launched earlier this year.

Neuberger Berman Equity Income’s managers allocate the Fund’s assets across a unique mix of uncorrelated income-producing securities, including REITs (real estate investment trusts); convertible securities; utility stocks; and other high-yielding stocks.

“We believe our Equity Income strategy is particularly well suited for periods of volatility as has recently occurred. It can also potentially provide the opportunity for strong returns over time,’’ said Levine.

“We’re delighted to celebrate the five-year anniversary of the Neuberger Berman Equity Income Fund and the recognition the Fund has received from investors and their advisors,’’ said Joseph Amato, president and chief investment officer at Neuberger Berman. “The distinctive investment approach of the Fund’s managers, and their focus on research and on strong long-term results, reflect enduring strengths of our firm and distinctive culture.’’

About Neuberger Berman

Established in 1939, Neuberger Berman is one of the world’s leading independent and employee-controlled asset management companies, managing approximately $183 billion in assets as of September 30, 2011, including $81 billion in equities, $85 billion in fixed income, and $17 billion in alternatives. Neuberger Berman provides a broad range of global investment solutions to institutions and individuals through customized separately managed accounts, mutual funds and alternative investment products. For more information, please visit our website at www.nb.com.

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An investor should consider Neuberger Berman Equity Income Fund’s investment objectives, risks, fees and expenses carefully before investing. This and other important information can be found in the Fund’s prospectus, and if available, summary prospectus, which may be obtained by calling 800.877.9700 or by e-mailing your request to fundinfo@nb.com. Please read the prospectus, and if available, summary prospectus, carefully before you invest or send money.

Past performance is no guarantee of future results. There are greater credit risks associated with investments in high-yield bonds. A bond’s value may fluctuate based on interest rates, market conditions, credit quality, political events, currency devaluation and other factors. High-yield bonds are not suitable for all investors and the risks of these bonds should be weighed against the potential rewards. High-yield bonds are considered speculative and carry a greater risk of default than investment-grade bonds. Their market value tends to be more volatile than investment-grade bonds.

There are greater credit risks associated with investments in high-yield bonds. A bond’s value may fluctuate based on interest rates, market conditions, credit quality, political events, currency devaluation and other factors. You may have a gain or a loss if you sell your bonds prior to maturity. High-yield bonds are not suitable for all investors and the risks of these bonds should be weighed against the potential rewards.

The properties held by REITs could fall in value for a variety of reasons, such as declines in rental income, poor property management, environmental liabilities, uninsured damage, increased competition, or changes in real estate tax laws. There is also a risk that REIT stock prices overall will decline over short or even long periods because of rising interest rates. Convertible bonds tend to offer a lower rate of return compared to other bonds in exchange funds for the value of the option to convert the bonds into stocks.

For each retail mutual fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars and the bottom 10% receive one star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a retail mutual fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Ratings are ©2011 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

The “Neuberger Berman” name and logo are registered service marks of Neuberger Berman Group LLC. “Neuberger Berman Management LLC” and the individual Fund names in this piece are either service marks or registered service marks of Neuberger Berman Management LLC.