NEUBERGER BERMAN EQUITY FUNDS
N-18F1, 1999-05-28
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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 FUNDS

                            NOTIFICATION OF ELECTION

         The undersigned  registered  open-end  investment company, on behalf of
the following series: Neuberger Berman Regency Fund ("Series"),  hereby notifies
the  Securities and Exchange  Commission  that 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 County of New York and the State New York on the
27th day of May, 1999.

                                        NEUBERGER BERMAN EQUITY FUNDS


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

/s/ Claudia A. Brandon
- ----------------------
Claudia A. Brandon
Secretary


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