Two Neuberger Berman Closed-End Funds Announce Adjournment of Joint Annual Meeting of Stockholders to Vote on Proposed Reorga...

Neuberger Berman Income Opportunity Fund Inc. (NYSE Amex: NOX) and Neuberger Berman High Yield Strategies Fund (NYSE: NHS) (each a “Fund” and together, the “Funds”) announced today the adjournment of their joint annual meeting of stockholders with respect to the proposal to reorganize each Fund into a newly formed fund. While most of the shares that have been voted have voted for the proposal the Funds have not yet received a sufficient number of affirmative votes to approve the proposal. The stockholder meeting will be adjourned to July 1, 2010 at 2:30 p.m.

The Funds have retained Broadridge Financial Solutions, Inc. to make phone calls to help secure the remaining votes needed to approve the proposed reorganization. You may also receive calls from Neuberger Berman's shareholder services representatives. Stockholders who have already voted do not need to recast their votes.

About Neuberger Berman

Neuberger Berman Group LLC is one of the world’s largest private, 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 the Fund’s performance, a general downturn in the economy, competition from other closed-end investment companies, changes in government policy or regulation, inability of the Fund’s investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.