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Press Release

Neuberger Berman Global Allocation Fund Marks Third Anniversary; Awarded 5 Stars by Morningstar

Media Contacts:

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

Fund Offers One-Stop Core Asset Allocation Solution for Investing in Global Markets

NEW YORK, January 15, 2014 – Neuberger Berman Group LLC, one of the world's leading employee-controlled money managers, is pleased to announce the Neuberger Berman Global Allocation Fund (tickers: NGLAX, NGLCX, and NGLIX) (the "Fund") recently marked its third anniversary with superior performance in its category. Since inception on December 29, 2010, the Fund's Class A (NGLAX) and Institutional Class (NGLIX) shares rank in the 11th and 6th percentiles, respectively, while the Class C (NGLCX) shares rank in the 16th percentile, among a peer group of 174 tactical allocation funds, according to data from fund tracker Morningstar, Inc.

Morningstar has awarded the Fund's Institutional Class an overall rating of 5 stars in the tactical allocation funds category. Class A and Class C have an overall rating of 4 stars. Morningstar calculates its ratings for each U.S.-domiciled fund with at least a three-year history 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, and placing more emphasis on downward variations and rewarding consistent performance.

Neuberger Berman Global Allocation Fund seeks to provide investors with attractive total return and has provided lower volatility and correlation to traditional global balanced funds. The Fund is managed by a team consisting of Wai Lee, chief investment officer of Neuberger Berman's Quantitative Investment Group; portfolio managers Alexandre da Silva and Ping Zhou; Joseph Amato, Neuberger Berman's president and chief investment officer; and Brad Tank, the firm's chief investment officer for fixed income.

"We're pleased the Fund's performance since inception has earned favorable recognition from Morningstar," said Wai Lee. "With global equities having broadly strengthened while government bonds struggled in 2013, looking forward to 2014, we believe that our Fund's dynamic risk-taking capability will continue to serve us well in being selective and tactical in managing these exposures as the valuation gap has narrowed, while we also remain constructive in opportunities in security selection as a valuable source of return."

About Neuberger Berman

Neuberger Berman is a 75-year-old private, independent, employee-controlled investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for global institutions, advisors and individuals. With offices in 16 countries, Neuberger Berman's team is approximately 2,000 professionals and the company was named by Pensions & Investments as a 2013 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $227 billion in client assets (as of September 30, 2013). For more information, please visit our website at www.nb.com.