Lehman Brothers Prime Reserve Money Fund is Rated 'AAA/V1+' by Fitch Rating

Business Wire, Jan 4, 2006

NEW YORK -- Fitch assigns an 'AAA/V1 ' money market fund rating to the Lehman Brothers Prime Reserve Money Fund and reaffirms the 'AAA/V1 ' money market fund ratings for the Lehman Brothers Prime Money Fund and Neuberger Berman Prime Money Fund.

The 'AAA/V1 ' ratings reflect the funds' high credit quality, conservative investment policies, and strong ability to provide shareholders with a constant $1.00 per share valuation. Portfolio valuation reports are submitted to Fitch weekly.

Fitch assigns the 'V1 ' volatility rating to distinguish money market funds that will maintain stable principal values from bond funds that experience fluctuating net asset values but nevertheless carry 'AAA' credit ratings and/or 'V1' volatility ratings. Bond funds are rated on a scale from 'V1' (least volatile, but still displaying NAV variability) to 'V10' (most volatile).

The funds' investment objective is to seek the highest available current income consistent with safety and liquidity. These funds will seek to achieve this objective by investing in a diversified group of high-quality money market instruments and other short-term obligations primarily denominated in U.S. dollars.

The Lehman Brothers Prime Reserve Money Fund, Lehman Brothers Prime Money Fund, and Neuberger Berman Prime Money Fund operate under a 'master/feeder' structure pursuant to which all three funds invest all assets in the Prime Portfolio, one series of the Institutional Liquidity Trust. Under the structure, the Prime Portfolio is the master fund and the Lehman Brothers Prime Reserve Money Fund, Neuberger Berman Prime Money Fund, and Lehman Brothers Prime Money Fund are feeder funds.

Lehman Brothers Asset Management, Inc., a wholly owned subsidiary of Lehman Brothers Holdings Inc., is the sub-advisor and will handle the day-to-day management responsibilities of the funds' assets.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.