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Press Release

Neuberger Berman Long Short Fund Named 'Best 40 Act Fund - Equity' at HFMWeek US Hedge Fund Performance Awards

October 18, 2013

Media Contacts:

Alexander Samuelson, 212.476.5392, Alexander.Samuelson@nb.com

NEW YORK, October 18, 2013 – Neuberger Berman, one of the world's leading employee-controlled money managers, is pleased to announce that Neuberger Berman Long Short Fund (tickers: NLSAX, NLSCX, NLSIX) was named “Best 40 Act Fund-Equity” at the HFMWeek US Hedge Fund Performance Awards, held in New York City on October 17, 2013.

Winners and shortlisted nominees were chosen by a panel of independent judges of industry professionals who examined both quantitative and qualitative data.

Neuberger Berman Long Short Fund is led by veteran portfolio manager Charles Kantor, and his team of five sector-specific analysts that employ a fundamental, all-cap investment strategy that seeks to identify attractive risk-adjusted opportunities to grow capital, with the ability to invest long and short, as well as in fixed income.

"We're honored to win this award and delighted that Neuberger Berman Long Short Fund has received an enthusiastic reception from investors since its inception," said Charles Kantor, Portfolio Manager. "The success of the Fund could not happen without the support and dedication of the entire Neuberger Berman team. We thank our colleagues for their relentless efforts."

For additional information on the HFMWeek US Hedge Fund Performance Awards please visit http://www.hfmweek.com/events/awards/hfmweek-us-performance-awards-2013

About Neuberger Berman

Neuberger Berman is a private, independent, employee-controlled investment manager. It partners with institutions, advisors and individuals throughout the world to customize solutions that address their needs for income, growth and capital preservation. Neuberger Berman has more than 1,900 employees worldwide, with approximately 450 investment professionals, offering an investment culture of independent thinking. Founded in 1939, the company provides solutions across equities, fixed income, hedge funds and private equity, and had $227 billion in assets under management as of September 30, 2013. For more information, please visit our website at www.nb.com.

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