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<PAGE> PAGE 22
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070 A010600 Y
070 A020600 N
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070 D020600 N
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070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 Y
070 L020600 N
070 M010600 Y
070 M020600 N
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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076 000600 0.00
013 A000701 ERNST & YOUNG LLP
013 B010701 BOSTON
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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SIGNATURE RICK RUSSELL
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Focus Fund Annual Report and is qualified in its
entirety by reference to such document.
</LEGEND>
<CIK> 0000044402
<NAME> NEUBERGER&BERMAN EQUITY FUNDS
<SERIES>
<NUMBER> 04
<NAME> NEUBERGER&BERMAN FOCUS FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 1,410,709
<RECEIVABLES> 2,226
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,412,935
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,025
<TOTAL-LIABILITIES> 1,025
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 688,845
<SHARES-COMMON-STOCK> 36,307
<SHARES-COMMON-PRIOR> 37,641
<ACCUMULATED-NII-CURRENT> 1,666
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 172,000
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 549,399
<NET-ASSETS> 1,411,910
<DIVIDEND-INCOME> 11,924
<INTEREST-INCOME> 1,094
<OTHER-INCOME> 0
<EXPENSES-NET> (10,497)
<NET-INVESTMENT-INCOME> 2,521
<REALIZED-GAINS-CURRENT> 172,820
<APPREC-INCREASE-CURRENT> 265,410
<NET-CHANGE-FROM-OPS> 440,751
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,010)
<DISTRIBUTIONS-OF-GAINS> (52,068)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,453
<NUMBER-OF-SHARES-REDEEMED> (9,505)
<SHARES-REINVESTED> 1,718
<NET-CHANGE-IN-ASSETS> 340,530
<ACCUMULATED-NII-PRIOR> 7,155
<ACCUMULATED-GAINS-PRIOR> 51,474
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,497
<AVERAGE-NET-ASSETS> 1,226,569
<PER-SHARE-NAV-BEGIN> 28.46
<PER-SHARE-NII> .08
<PER-SHARE-GAIN-APPREC> 12.00
<PER-SHARE-DIVIDEND> (.22)
<PER-SHARE-DISTRIBUTIONS> (1.43)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 38.89
<EXPENSE-RATIO> .86
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Guardian Fund Annual Report and is qualified in its
entirety by reference to such document.
</LEGEND>
<CIK> 0000044402
<NAME> NEUBERGER&BERMAN EQUITY FUNDS
<SERIES>
<NUMBER> 01
<NAME> NEUBERGER&BERMAN GUARDIAN FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 6,475,571
<RECEIVABLES> 8,616
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,484,187
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,051
<TOTAL-LIABILITIES> 9,051
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,679,088
<SHARES-COMMON-STOCK> 206,153
<SHARES-COMMON-PRIOR> 206,284
<ACCUMULATED-NII-CURRENT> 6,443
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 723,639
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,065,966
<NET-ASSETS> 6,475,136
<DIVIDEND-INCOME> 61,755
<INTEREST-INCOME> 15,493
<OTHER-INCOME> 0
<EXPENSES-NET> (45,637)
<NET-INVESTMENT-INCOME> 31,611
<REALIZED-GAINS-CURRENT> 728,099
<APPREC-INCREASE-CURRENT> 1,139,234
<NET-CHANGE-FROM-OPS> 1,898,944
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (49,597)
<DISTRIBUTIONS-OF-GAINS> (252,628)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 36,707
<NUMBER-OF-SHARES-REDEEMED> (47,659)
<SHARES-REINVESTED> 10,821
<NET-CHANGE-IN-ASSETS> 1,569,967
<ACCUMULATED-NII-PRIOR> 24,429
<ACCUMULATED-GAINS-PRIOR> 249,689
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 45,637
<AVERAGE-NET-ASSETS> 5,734,823
<PER-SHARE-NAV-BEGIN> 23.78
<PER-SHARE-NII> .15
<PER-SHARE-GAIN-APPREC> 8.96
<PER-SHARE-DIVIDEND> (.24)
<PER-SHARE-DISTRIBUTIONS> (1.24)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 31.41
<EXPENSE-RATIO> .80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from
the Neuberger&Berman Manhattan Fund Annual Report and is qualified in
its entirety by reference to such document.
</LEGEND>
<CIK> 0000044402
<NAME> NEUBERGER&BERMAN EQUITY FUNDS
<SERIES>
<NUMBER> 02
<NAME> NEUBERGER&BERMAN MANHATTAN FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 570,594
<RECEIVABLES> 231
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 570,825
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 376
<TOTAL-LIABILITIES> 376
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 338,411
<SHARES-COMMON-STOCK> 39,315
<SHARES-COMMON-PRIOR> 43,230
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 146,083
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 85,955
<NET-ASSETS> 570,449
<DIVIDEND-INCOME> 3,359
<INTEREST-INCOME> 861
<OTHER-INCOME> 0
<EXPENSES-NET> (5,272)
<NET-INVESTMENT-INCOME> (1,052)
<REALIZED-GAINS-CURRENT> 170,508
<APPREC-INCREASE-CURRENT> 5,870
<NET-CHANGE-FROM-OPS> 175,326
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (67,073)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,177
<NUMBER-OF-SHARES-REDEEMED> (16,326)
<SHARES-REINVESTED> 5,234
<NET-CHANGE-IN-ASSETS> 54,210
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 49,542
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,272
<AVERAGE-NET-ASSETS> 536,346
<PER-SHARE-NAV-BEGIN> 11.94
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> 4.26
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.66)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.51
<EXPENSE-RATIO> .98
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from
the Neuberger&Berman Partners Fund Annual Report and is qualified in
its entirety by reference to such document.
</LEGEND>
<CIK> 0000044402
<NAME> NEUBERGER&BERMAN EQUITY FUNDS
<SERIES>
<NUMBER> 05
<NAME> NEUBERGER&BERMAN PARTNERS FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 3,099,619
<RECEIVABLES> 6,591
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,106,210
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,482
<TOTAL-LIABILITIES> 2,482
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,991,163
<SHARES-COMMON-STOCK> 98,204
<SHARES-COMMON-PRIOR> 78,380
<ACCUMULATED-NII-CURRENT> 11,889
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 463,047
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 637,629
<NET-ASSETS> 3,103,728
<DIVIDEND-INCOME> 31,495
<INTEREST-INCOME> 5,757
<OTHER-INCOME> 0
<EXPENSES-NET> (19,746)
<NET-INVESTMENT-INCOME> 17,506
<REALIZED-GAINS-CURRENT> 490,163
<APPREC-INCREASE-CURRENT> 417,398
<NET-CHANGE-FROM-OPS> 925,067
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (17,551)
<DISTRIBUTIONS-OF-GAINS> (208,212)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 29,056
<NUMBER-OF-SHARES-REDEEMED> (17,682)
<SHARES-REINVESTED> 8,450
<NET-CHANGE-IN-ASSETS> 1,231,784
<ACCUMULATED-NII-PRIOR> 11,934
<ACCUMULATED-GAINS-PRIOR> 181,185
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19,746
<AVERAGE-NET-ASSETS> 2,440,023
<PER-SHARE-NAV-BEGIN> 23.88
<PER-SHARE-NII> .19
<PER-SHARE-GAIN-APPREC> 10.36
<PER-SHARE-DIVIDEND> (.22)
<PER-SHARE-DISTRIBUTIONS> (2.61)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 31.60
<EXPENSE-RATIO> .81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from
the Neuberger&Berman Genesis Fund Annual Report and is qualified in its
entirety by reference to such document.
</LEGEND>
<CIK> 0000044402
<NAME> NEUBERGER&BERMAN EQUITY FUNDS
<SERIES>
<NUMBER> 03
<NAME> NEUBERGER&BERMAN GENESIS FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 705,004
<RECEIVABLES> 13,602
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 718,606
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 498
<TOTAL-LIABILITIES> 498
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 506,822
<SHARES-COMMON-STOCK> 46,180
<SHARES-COMMON-PRIOR> 17,908
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 13,525
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 197,761
<NET-ASSETS> 718,108
<DIVIDEND-INCOME> 2,959
<INTEREST-INCOME> 1,240
<OTHER-INCOME> 0
<EXPENSES-NET> (4,519)
<NET-INVESTMENT-INCOME> (320)
<REALIZED-GAINS-CURRENT> 14,252
<APPREC-INCREASE-CURRENT> 148,087
<NET-CHANGE-FROM-OPS> 162,019
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (3,645)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 37,602
<NUMBER-OF-SHARES-REDEEMED> (9,618)
<SHARES-REINVESTED> 288
<NET-CHANGE-IN-ASSETS> 522,729
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3,230
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,519
<AVERAGE-NET-ASSETS> 388,951
<PER-SHARE-NAV-BEGIN> 10.91
<PER-SHARE-NII> (.01)
<PER-SHARE-GAIN-APPREC> 4.80
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.15)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.55
<EXPENSE-RATIO> 1.16
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from
the Neuberger&Berman Socially Responsive Fund Annual Report and is
qualified in its entirety by reference to such document.
</LEGEND>
<CIK> 0000044402
<NAME> NEUBERGER&BERMAN EQUITY FUNDS
<SERIES>
<NUMBER> 06
<NAME> NEUBERGER&BERMAN SOCIALLY RESPONSIVE FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 59,757
<RECEIVABLES> 238
<ASSETS-OTHER> 24
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 60,019
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 279
<TOTAL-LIABILITIES> 279
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 45,047
<SHARES-COMMON-STOCK> 3,358
<SHARES-COMMON-PRIOR> 2,372
<ACCUMULATED-NII-CURRENT> 53
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,408
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 13,232
<NET-ASSETS> 59,740
<DIVIDEND-INCOME> 666
<INTEREST-INCOME> 142
<OTHER-INCOME> 0
<EXPENSES-NET> (701)
<NET-INVESTMENT-INCOME> 107
<REALIZED-GAINS-CURRENT> 1,586
<APPREC-INCREASE-CURRENT> 11,253
<NET-CHANGE-FROM-OPS> 12,946
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (82)
<DISTRIBUTIONS-OF-GAINS> (1,152)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,925
<NUMBER-OF-SHARES-REDEEMED> (1,013)
<SHARES-REINVESTED> 74
<NET-CHANGE-IN-ASSETS> 26,816
<ACCUMULATED-NII-PRIOR> 28
<ACCUMULATED-GAINS-PRIOR> 951
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 701
<AVERAGE-NET-ASSETS> 47,358
<PER-SHARE-NAV-BEGIN> 13.88
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 4.33
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> (.42)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.79
<EXPENSE-RATIO> 1.48
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman International Fund Annual Report and is qualified in its
entirety by reference to such document.
</LEGEND>
<CIK> 0000044402
<NAME> NEUBERGER&BERMAN EQUITY FUNDS
<SERIES>
<NUMBER> 07
<NAME> NEUBERGER&BERMAN INTERNATIONAL FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 115,264
<RECEIVABLES> 271
<ASSETS-OTHER> 36
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 115,571
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 195
<TOTAL-LIABILITIES> 195
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 90,855
<SHARES-COMMON-STOCK> 7,780
<SHARES-COMMON-PRIOR> 4,784
<ACCUMULATED-NII-CURRENT> (153)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,816
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 22,858
<NET-ASSETS> 115,376
<DIVIDEND-INCOME> 1,130
<INTEREST-INCOME> 382
<OTHER-INCOME> 0
<EXPENSES-NET> (1,533)
<NET-INVESTMENT-INCOME> (21)
<REALIZED-GAINS-CURRENT> 2,368
<APPREC-INCREASE-CURRENT> 16,214
<NET-CHANGE-FROM-OPS> 18,561
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (111)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,581
<NUMBER-OF-SHARES-REDEEMED> (3,592)
<SHARES-REINVESTED> 7
<NET-CHANGE-IN-ASSETS> 58,388
<ACCUMULATED-NII-PRIOR> 23
<ACCUMULATED-GAINS-PRIOR> (599)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,533
<AVERAGE-NET-ASSETS> 90,112
<PER-SHARE-NAV-BEGIN> 11.91
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 2.94
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.83
<EXPENSE-RATIO> 1.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
