Neuberger Berman Real Estate Income Fund Announces Monthly Distributions
30 March 2007 - 5:32AM
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 April 30, 2007, May 31, 2007 and June
29, 2007, to shareholders of record on April 16, 2007, May 15, 2007
and June 15, 2007, 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 Fund expenses, including significant
estimated legal costs associated with the hostile tender offer
initiated in 2004 by entities affiliated with Stewart R. Horejsi.
Due to an effort to maintain a stable distribution amount, the
distributions announced today, as well as future distributions, may
consist of net investment income, realized capital gains and return
of capital. In compliance with Section 19 of the Investment Company
Act of 1940, as amended, a notice would be provided for any
distribution that does not consist solely of net investment income.
The notice would be for informational purposes, and would 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 investment
banking, equity and fixed income sales, trading and research,
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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