Neuberger Berman Income Opportunity Fund Inc. and Neuberger Berman High Yield Strategies Fund Postpone Annual Meetings

Neuberger Berman Income Opportunity Fund Inc. (“NOX” or the “Fund”) (NYSEAmex: NOX) and Neuberger Berman High Yield Strategies Fund (“NHS” or the “Fund” and together with NOX, the “Funds”) (NYSE: NHS) have announced that their 2010 annual shareholder meetings (together, the “Meetings”) have been postponed. The Meetings were initially scheduled for June 1, 2010. The Meetings have been rescheduled for June 11, 2010. The record date for determining shareholders eligible to vote at the Meetings is April 1, 2010 and has not been changed.

Neuberger Berman Group LLC is one of the world’s leading independent, employee-controlled asset management companies. As of March 31, 2010, assets under management were approximately $180 billion. Established in 1939, Neuberger Berman is a leader in a broad range of global investment solutions—equity, fixed income and alternatives—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.

Statements made in this release that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in a Fund’s performance, a general downturn in the economy, competition from other closed-end investment companies, changes in government policy or regulation, inability of a Fund’s investment adviser to attract or retain key employees, inability of a Fund to implement its investment strategy, inability of a Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.