Neuberger Berman Real Estate Income Fund Announces Special Distribution
December 01 2006 - 5:15PM
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 a special distribution of
$2.19080 per share payable on December 29, 2006, to shareholders of
record on December 15, 2006. The special distribution helps the
Fund meet its 2006 distribution requirements for federal tax
purposes. The distribution declared today, as well as future
distributions, may consist of net investment income, capital gains
and return of capital. The Fund invests a significant portion of
its assets in securities issued by real estate investment trusts
(�REITs�). The distributions the Fund receives from REITs are
generally comprised of income, capital gains, and return of capital
but the REITs do not report this information to the Fund until the
following calendar year. After calendar year-end, when the Fund
learns the actual nature of distributions it received from the
REITs during that year, distributions previously identified as
income are often recharacterized as a return of capital and/or
capital gain. 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 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 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. 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 a special
distribution of $2.19080 per share payable on December 29, 2006, to
shareholders of record on December 15, 2006. The special
distribution helps the Fund meet its 2006 distribution requirements
for federal tax purposes. The distribution declared today, as well
as future distributions, may consist of net investment income,
capital gains and return of capital. The Fund invests a significant
portion of its assets in securities issued by real estate
investment trusts ("REITs"). The distributions the Fund receives
from REITs are generally comprised of income, capital gains, and
return of capital but the REITs do not report this information to
the Fund until the following calendar year. After calendar
year-end, when the Fund learns the actual nature of distributions
it received from the REITs during that year, distributions
previously identified as income are often recharacterized as a
return of capital and/or capital gain. 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 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
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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