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Press Release

Neuberger Berman Introduces Greater China Fund for U.S. Investors

Media Contact:

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

Mutual Fund Based on Firm's Successful Greater China Long-Only Strategy for Institutions

NEW YORK, July 17, 2013 – Neuberger Berman Group LLC, one of the world's leading employee-controlled money managers, is pleased to announce the launch of the Neuberger Berman Greater China Equity Fund ("the Fund") (tickers: NCEAX, NCECX, and NCEIX), a mutual fund for U.S. investors investing primarily in equity securities of issuers based in mainland China, Hong Kong, Taiwan, and Macau.

The Fund is managed by a proven team of 13, including portfolio managers and strategists, research analysts and traders, which is based in Shanghai and Hong Kong and has an average of 14 years of experience investing in Greater China markets. Led by portfolio managers and managing directors Yulin (Frank) Yao and Lihui Tang, the Fund seeks to achieve an attractive total return by investing in typically 30-50 large- and mid-cap equity securities primarily in the Greater China region, which represents one of the world's fastest-growing measured by GDP and is the world's second-largest equity market by market capitalization. The Fund's investment team employs a bottom-up, research-driven style with a value bias and has the latitude to invest in securities not found in the Fund's index, the MSCI China index.

Under the leadership of Mr. Yao, the Fund's investment team currently manages over $1.7 billion for institutional and individual investors in other vehicles at Neuberger Berman, along with a number of private funds and managed accounts ranging from dedicated China A-shares to broader Greater China equities.

According to Mr. Yao, who serves additionally as Neuberger Berman's vice chairman for Asia-Pacific, the Greater China region is a large and inefficient market with compelling investment opportunities for U.S. investors. The Fund's team is focused on two broad themes where it believes domestic demand will benefit from economic growth – consumption-driven sectors, including agriculture, autos, entertainment, food and beverage, health care, and retail and infrastructure, including equipment, machinery and utilities.

"We believe valuations for domestic and overseas-listed Chinese equities are at their lowest point in recent years, at roughly half their historical averages, and we think this is a great time for U.S. investors with a longer-term outlook to consider investing in the Greater China region," Yao 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 400 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 $214 billion in assets under management as of June 30, 2013. For more information, please visit our website at www.nb.com.