NEUBERGER BERMAN EQUITY SERIES
N-18F1, 1999-07-07
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                       SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549

                                  FORM N-18F-1

                 Notification of Election Pursuant to Rule 18f-1

                    Under the Investment Company Act of 1940


                         NEUBERGER BERMAN EQUITY SERIES

                            NOTIFICATION OF ELECTION

         The undersigned  registered  open-end  investment company, on behalf of
the following series: Neuberger Berman Genesis Institutional ("Series"),  hereby
notifies the Securities and Exchange Commission that the Series elects to commit
itself to pay in cash all  redemptions by a shareholder of record as provided by
Rule 18f-1 under the Investment  Company Act of 1940. It is understood that this
election is  irrevocable  while such Rule is in effect unless the  Commission by
order upon application permits the withdrawal of this Notification of Election.


                                    SIGNATURE

         Pursuant to the requirements of Rule 18f-1 under the Investment Company
Act of 1940, the Registrant has caused this  Notification of Election to be duly
executed  on its  behalf  in the city  and  state of New York on this lst day of
July, 1999.

                                          NEUBERGER BERMAN EQUITY SERIES



                                          By: /s/ Michael J. Weiner
                                             ---------------------------
                                                  Vice President


Attest:


/s/ Stacy Cooper-Shugrue
- ------------------------
    Assistant Secretary


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