Statement from Neuberger Berman Real Estate Income Fund

  
    
  
  
    
      Neuberger Berman Real Estate Income Fund Inc. (NYSE:NRL) did not hold a 
      meeting of stockholders during its fiscal year ended yesterday. 
      Investors may therefore see the letters “BC” 
      or some other symbol appended to the Fund’s 
      ticker symbol or name on certain websites or in certain papers, 
      indicating that the Fund has not yet fulfilled the annual meeting 
      requirement of the New York Stock Exchange (“NYSE”) 
      rules. As communicated in NRL stockholder reports, the Fund is involved 
      in litigation concerning a hostile tender offer for control of the Fund. 
      The litigation has raised issues that would affect how voting is 
      conducted on any election of directors or other proposal at a 
      stockholder meeting. These issues were presented to the court for 
      resolution earlier this year, and the Fund is now awaiting the court’s 
      decision. Although compliance with NYSE rules is important, the Fund 
      believes, notwithstanding contrary views expressed by some stockholders, 
      that in this situation it is in the best interests of its stockholders 
      to allow the court to resolve the voting issues before holding a 
      stockholder meeting. The Fund wants to minimize the risk of litigation 
      challenging the results of any stockholder vote, including the 
      possibility that a second stockholder meeting might be required. The 
      Fund will hold a stockholder meeting as soon as practicable after the 
      court has issued its ruling.
    
    
      Forward-Looking Statements
    
    
      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 
      funds, changes in government policy or regulation, inability of the Fund’s 
      investment advisor to attract or retain key employees, inability of the 
      Fund’s investment advisor to implement its 
      investment strategy, inability of the Fund to manage unforeseen costs 
      and other effects related to legal proceedings or investigations of 
      governmental and self-regulatory organizations.
    
  
Neuberger Berman Real Estate Income Fund Inc. (NYSE:NRL) did not
hold a meeting of stockholders during its fiscal year ended yesterday.
Investors may therefore see the letters "BC" or some other symbol
appended to the Fund's ticker symbol or name on certain websites or in
certain papers, indicating that the Fund has not yet fulfilled the
annual meeting requirement of the New York Stock Exchange ("NYSE")
rules. As communicated in NRL stockholder reports, the Fund is
involved in litigation concerning a hostile tender offer for control
of the Fund. The litigation has raised issues that would affect how
voting is conducted on any election of directors or other proposal at
a stockholder meeting. These issues were presented to the court for
resolution earlier this year, and the Fund is now awaiting the court's
decision. Although compliance with NYSE rules is important, the Fund
believes, notwithstanding contrary views expressed by some
stockholders, that in this situation it is in the best interests of
its stockholders to allow the court to resolve the voting issues
before holding a stockholder meeting. The Fund wants to minimize the
risk of litigation challenging the results of any stockholder vote,
including the possibility that a second stockholder meeting might be
required. The Fund will hold a stockholder meeting as soon as
practicable after the court has issued its ruling.

   Forward-Looking Statements

   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 funds, changes in government policy or regulation,
inability of the Fund's investment advisor to attract or retain key
employees, inability of the Fund's investment advisor to implement its
investment strategy, inability of the Fund to manage unforeseen costs
and other effects related to legal proceedings or investigations of
governmental and self-regulatory organizations.