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Press Release

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.