Neuberger Berman Introduces New Retirement Share Class (R6) for Seven Mutual Funds

Media Contact:

Alexander Samuelson, 212.476.5392, Alexander.Samuelson@nb.com

NEW YORK, March 18, 2013 – In response to client demands for increased transparency and flexibility in the retirement plan marketplace, Neuberger Berman Group LLC, is pleased to introduce retirement share classes (R6 Shares) for seven of its mutual funds.

The new R6 Shares offer a lower cost option to retirement plan advisers and their plan sponsor clients and will initially be available for the following funds: NB Emerging Markets Equity; NB Genesis Fund; NB High Income Bond Fund; NB Mid Cap Growth Fund; NB Real Estate Fund; NB Socially Responsive Fund; and NB Strategic Income Fund.

The new R6 Shares will be offered at net asset value (NAV) without front-end sales charges, contingent deferred sales charges (CDSC), or 12b-1 fees and are available for purchase on March 15, 2013. Neuberger Berman currently manages $19 billion in defined contribution plan assets as of December 31, 2012.

"We understand the many issues facing our plan sponsor clients and their underlying participants. To address the need for fee transparency, we are excited to add these share classes to some of our best performing and in demand mutual funds," said Scott Kilgallen, managing director of the Financial Institutions Group at Neuberger Berman. "We are also looking to add more R6 Shares to our mutual fund line-up over time," he said.

About Neuberger Berman

Neuberger Berman is a private, independent, employee-controlled investment manager. It partners with institutions, advisors and individuals throughout the world to customize solutions that address their needs for income, growth and capital preservation. With more than 1,700 professionals focused exclusively on asset management, it offers an investment culture of independent thinking. Founded in 1939, the company provides solutions across equities, fixed income, hedge funds and private equity, and had $205 billion in assets under management as of December 31, 2012. For more information, please visit our website at www.nb.com.

An investor should consider a Fund's investment objectives, risks and fees and expenses carefully before investing. This and other important information can be found in each Fund's prospectus, which can be obtained by calling 877.628.2583. Please read it carefully before making an investment. The prospectus contains a more complete discussion of the risk of investing in the Funds.

To the extent that a fund emphasizes small-, mid- or large-cap stocks, it takes on the associated risks. At times, large-cap stocks may lag other types of stocks in performance, which could cause a fund holding those stocks to perform worse than certain other funds. Small- or mid-cap stocks may fluctuate more widely in price than the market as a whole; underperform other types of stocks or be difficult to sell when the economy is not robust or during market downturns; be more affected than other types of stocks by the underperformance of a sector emphasized by the fund.

The value of an individual security or a particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. Stock markets are volatile and may decline significantly in response to adverse issuer, political, regulatory, market or economic developments. To the extent that the fund sells stocks before they reach their market peak, it may miss out on opportunities for higher performance.

Neuberger Berman Emerging Markets Equity Fund
Investing in foreign securities involves greater risks than investing in securities of U.S. issuers, including currency fluctuations, interest rates, potential political instability, restrictions on foreign investors, less regulation and less market liquidity, as more fully described in the prospectus. Governments of emerging market countries may be more unstable and more likely to impose capital controls, nationalize a company or an industry, place restrictions on foreign ownership and on withdrawing sales proceeds of securities from the country, and/or impose burdensome taxes that could adversely affect security prices.

Neuberger Berman Genesis Fund
With a valuation-sensitive approach, there is also the risk that stocks may remain undervalued during a given period. This may happen because value stocks, as a category, lose favor with investors compared with growth stocks, or because of a failure to anticipate which stocks or industries would benefit from changing market or economic conditions. To the extent that a fund invests more heavily in one sector, it presents a more concentrated risk.

Neuberger Berman High Income Bond Fund & Neuberger Berman Strategic Income Fund
A bond's value may fluctuate based on interest rates, market conditions, credit quality and other factors. Generally, bond values will decline as interest rates rise. You may have a gain or a loss if you sell your bonds prior to maturity. Bonds are subject to the credit risk of the issuer. High-yield bonds, also known as "junk bonds," are considered speculative and carry a greater risk of default than investment-grade bonds. Their market value tends to be more volatile than those of investment-grade bonds. Please see the prospectus or summary prospectus for a more comprehensive overview of the risks entailed with fixed income investing.

Investing in lower-rated debt securities involve greater risks than investment-grade debt securities. This may include the risk that its holdings may fluctuate more widely in price and yield than investment-grade bonds, fall in price when the economy is weak or is expected to become weak, be difficult to sell at the time and price a fund desires or carry higher transaction costs. Performance may also suffer if an issuer of bonds held by a fund defaults on its debt obligations.

Neuberger Berman Real Estate Fund
A fund's concentration in real estate investments subjects it to greater potential risks and volatility than a more diversified portfolio, and the value of its shares may decline due to events affecting the real estate industry, as more fully described in the prospectus. The Fund is considered non-diversified. As such, the percentage of the Fund's assets invested in any single issuer is not limited by the Investment Company Act of 1940. Investing a higher percentage of its assets in any one issuer could increase the Fund's risk of loss and its share price volatility, because the value of its shares would be more susceptible to adverse events affecting that issuer.

Neuberger Berman Socially Responsive Fund
The Fund's social policy could cause it to underperform similar funds that do not have a social policy. Among the reasons for this are: undervalued stocks that do not meet the social criteria could outperform those that do, economic or political changes could make certain companies less attractive for investment, and the social policy could cause the Fund to sell or avoid stocks that subsequently perform well.

Neuberger Berman Mid Cap Growth Fund
The stocks of mid-cap companies are often more volatile and less liquid than the stocks of larger companies and may be more affected than other types of stocks by the underperformance of a sector or during market downturns. Compared to larger companies, mid-cap companies may have a shorter history of operations, and may have limited product lines, markets or financial resources. Because the prices of most growth stocks are based on future expectations, these stocks tend to be more sensitive than value stocks to bad economic news and negative earnings surprises. Bad economic news or changing investor perceptions can negatively affect growth stocks across several industries and sectors simultaneously.

This material is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied on as such. Opinions expressed are as of the date herein and are subject to change without notice. This material is not intended to be a formal research report and should not be construed as an offer to sell or the solicitation of an offer to buy any security.

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. ©2013 Neuberger Berman Management LLC. All rights reserved.

Neuberger Berman Management LLC, distributor.