New Portfolio Managers Announced for Neuberger Berman Real Estate Securities Income Fund Inc., and for the Real Estate Portions of Neuberger Berman Dividend Advantage Fund Inc. and Neuberger Berman Income Opportunity Fund Inc

Business Wire, Oct 25, 2008

NEW YORK -- Steve S. Shigekawa and Brian Jones have been appointed co-portfolio managers and have assumed day-to-day management responsibility for Neuberger Berman Real Estate Securities Income Fund Inc. (AMEX: NRO) and for the real estate portions of Neuberger Berman Dividend Advantage Fund Inc. (AMEX: NDD) and Neuberger Berman Income Opportunity Fund Inc. (AMEX: NOX) (each a "Fund" and collectively, the "Funds"). Mr. Shigekawa, a vice president of Neuberger Berman Management LLC and a senior vice president of Neuberger Berman, LLC, was an associate portfolio manager of each Fund from 2006 to 2008. Prior to that, he was an analyst with the firm covering REIT securities since 2002. Mr. Jones, CFA, a vice president of Neuberger Berman Management LLC and Neuberger Berman, LLC, joined the firm in 1999 as an associate analyst. In 2003, he became an analyst covering REIT securities and was named an associate portfolio manager for separately managed accounts investing in REIT securities in 2007.

Neuberger Berman Management LLC, the Funds' investment manager, is a subsidiary of Neuberger Berman Holdings LLC, an investment advisory company serving individuals, families, and taxable and non-taxable institutions with a broad range of investment products, services and strategies. Neuberger Berman engages in wealth management services including private asset management, mutual funds, institutional management and alternative investments. For further information about Neuberger Berman please visit www.nb.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 a Fund's performance, a general downturn in the economy, competition from other closed-end investment companies, changes in government policy or regulation, inability of a Fund's investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of a Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.