Message #10 From:
NewsBot Date: December 1, 2006 03:17:00 PM
NRI News Neuberger Berman Realty Income Fund Announces Special Distribution
NEW YORK--(BUSINESS WIRE)--The Board of Directors of Neuberger Berman Realty Income Fund Inc. (the “
Fund”), which trades on the New York Stock
Exchange under ticker symbol NRI, has declared a special distribution of
$0.66550 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, realized 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. This 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.
