Neuberger Berman Real Estate Income Fund Announces Monthly Distributions
30 June 2006 - 2:32AM
Business Wire
The Board of Directors of Neuberger Berman Real Estate Income Fund
Inc. (the "Fund"), which trades on the New York Stock Exchange
under ticker symbol NRL, has declared monthly distributions of
$0.115 per share payable on July 31, 2006, August 31, 2006, and
September 29, 2006, to shareholders of record on July 17, 2006,
August 15, 2006 and September 15, 2006, respectively. Under its
level distribution policy, the Fund anticipates that it will make
subsequent regular monthly distributions, subject to market
conditions, of $0.115 per share unless further action is taken to
determine another amount. There is no assurance that the Fund will
always be able to pay a distribution of any particular size, or
that a distribution will consist of only net investment income. The
Fund's ability to maintain a stable distribution will depend on a
number of factors, including the stability of income received from
its investments, availability of capital gains, distributions paid
on preferred shares and the level of expenses, including
significant estimated legal costs associated with the hostile
tender offer initiated in 2004 by entities affiliated with Stewart
R. Horejsi. In compliance with Section 19 of the Investment Company
Act of 1940, as amended, a notice will accompany any distribution
that does not consist solely of net investment income. The notice
is for informational purposes, and will disclose, among other
things, estimated portions of the distribution, if any, consisting
of net investment income, capital gains and return of capital.
Neuberger Berman Management Inc., the Fund's investment manager, is
a subsidiary of Neuberger Berman Inc., an investment advisory
company serving individuals, families, and taxable and non-taxable
institutions with a broad range of investment products, services
and strategies. A Lehman Brothers company, Neuberger Berman engages
in wealth management services including private asset management,
tax and financial planning, and personal and institutional trust
services; mutual funds, institutional management and alternative
investments; and professional securities services. For further
information about Neuberger Berman please visit www.nb.com. Lehman
Brothers (ticker symbol: LEH), an innovator in global finance,
serves the financial needs of corporations, governments and
municipalities, institutional clients and high-net-worth
individuals worldwide. Founded in 1850, Lehman Brothers maintains
leadership positions in equity and fixed income sales, trading and
research, investment banking, private investment management, asset
management and private equity. The Firm is headquartered in New
York, with regional headquarters in London and Tokyo, and operates
in a network of offices around the world. For further information
about Lehman Brothers' services, products and recruitment
opportunities, visit the Firm's Web site at www.lehman.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.
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