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<PAGE> PAGE 2
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<PAGE> PAGE 6
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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074 C001100 0
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SIGNATURE RICK RUSSELL
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Nueberger Berman Government Money Fund Annual Report and is qualified in
its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 01
<NAME> NEUBERGER BERMAN GOVERNMENT MONEY FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 367,766
<RECEIVABLES> 53
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 367,819
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 222
<TOTAL-LIABILITIES> 222
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 367,575
<SHARES-COMMON-STOCK> 367,575
<SHARES-COMMON-PRIOR> 308,166
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 22
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 367,597
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 18,897
<OTHER-INCOME> 0
<EXPENSES-NET> (2,285)
<NET-INVESTMENT-INCOME> 16,612
<REALIZED-GAINS-CURRENT> 31
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 16,643
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (16,612)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 924,226
<NUMBER-OF-SHARES-REDEEMED> (881,250)
<SHARES-REINVESTED> 16,433
<NET-CHANGE-IN-ASSETS> 59,440
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (9)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,285
<AVERAGE-NET-ASSETS> 361,136
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .63
<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 Municipal Securities Trust Annual Report and is
qualified in its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 09
<NAME> NEUBERGER BERMAN MUNICIPAL SECURITIES TRUST
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 40,226
<RECEIVABLES> 9
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 40,235
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 87
<TOTAL-LIABILITIES> 87
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38,924
<SHARES-COMMON-STOCK> 3,539
<SHARES-COMMON-PRIOR> 2,869
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (247)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,471
<NET-ASSETS> 40,148
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,640
<OTHER-INCOME> 0
<EXPENSES-NET> (224)
<NET-INVESTMENT-INCOME> 1,416
<REALIZED-GAINS-CURRENT> 426
<APPREC-INCREASE-CURRENT> 583
<NET-CHANGE-FROM-OPS> 2,425
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,416)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,520
<NUMBER-OF-SHARES-REDEEMED> (930)
<SHARES-REINVESTED> 80
<NET-CHANGE-IN-ASSETS> 8,521
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (673)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 379
<AVERAGE-NET-ASSETS> 34,358
<PER-SHARE-NAV-BEGIN> 11.02
<PER-SHARE-NII> .46
<PER-SHARE-GAIN-APPREC> .32
<PER-SHARE-DIVIDEND> (.46)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.34
<EXPENSE-RATIO> .65
<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 Municipal Money Fund Annual Report and is qualified in
its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 08
<NAME> NEUBERGER BERMAN MUNICIPAL MONEY FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 221,612
<RECEIVABLES> 2
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 221,614
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 133
<TOTAL-LIABILITIES> 133
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 221,481
<SHARES-COMMON-STOCK> 221,544
<SHARES-COMMON-PRIOR> 156,420
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 221,481
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6,741
<OTHER-INCOME> 0
<EXPENSES-NET> (1,333)
<NET-INVESTMENT-INCOME> 5,408
<REALIZED-GAINS-CURRENT> 26
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5,434
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,408)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 319,207
<NUMBER-OF-SHARES-REDEEMED> (259,407)
<SHARES-REINVESTED> 5,334
<NET-CHANGE-IN-ASSETS> 65,160
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (26)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,333
<AVERAGE-NET-ASSETS> 188,501
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .71
<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 Limited Maturity Bond Fund Annual Report and is
qualified in its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 06
<NAME> NEUBERGER BERMAN LIMITED MATURITY BOND FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 295,897
<RECEIVABLES> 13
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 295,910
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 686
<TOTAL-LIABILITIES> 686
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 311,365
<SHARES-COMMON-STOCK> 29,802
<SHARES-COMMON-PRIOR> 25,461
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (17,673)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,532
<NET-ASSETS> 295,224
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 18,984
<OTHER-INCOME> 0
<EXPENSES-NET> (1,979)
<NET-INVESTMENT-INCOME> 17,005
<REALIZED-GAINS-CURRENT> (3,885)
<APPREC-INCREASE-CURRENT> 186
<NET-CHANGE-FROM-OPS> 13,306
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (16,966)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,312
<NUMBER-OF-SHARES-REDEEMED> (12,422)
<SHARES-REINVESTED> 1,451
<NET-CHANGE-IN-ASSETS> 39,818
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (10,277)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,122
<AVERAGE-NET-ASSETS> 282,638
<PER-SHARE-NAV-BEGIN> 10.03
<PER-SHARE-NII> .60
<PER-SHARE-GAIN-APPREC> (.12)
<PER-SHARE-DIVIDEND> (.60)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.91
<EXPENSE-RATIO> .70
<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 Cash Reserves Annual Report and is qualified in its
entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 04
<NAME> NEUBERGER BERMAN CASH RESERVES
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 1,028,759
<RECEIVABLES> 299
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,029,058
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,504
<TOTAL-LIABILITIES> 4,504
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,024,576
<SHARES-COMMON-STOCK> 1,024,576
<SHARES-COMMON-PRIOR> 664,081
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (22)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,024,554
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 44,562
<OTHER-INCOME> 0
<EXPENSES-NET> (4,995)
<NET-INVESTMENT-INCOME> 39,567
<REALIZED-GAINS-CURRENT> (4)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 39,563
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (39,567)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,612,173
<NUMBER-OF-SHARES-REDEEMED> (1,290,742)
<SHARES-REINVESTED> 39,064
<NET-CHANGE-IN-ASSETS> 360,491
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (18)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,995
<AVERAGE-NET-ASSETS> 793,210
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .63
<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 High Yield Bond Fund Annual Report and is qualified
in its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 11
<NAME> NEUBERGER BERMAN HIGH YIELD BOND FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 22,638
<RECEIVABLES> 6
<ASSETS-OTHER> 62
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 22,706
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 116
<TOTAL-LIABILITIES> 116
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,293
<SHARES-COMMON-STOCK> 2,418
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (42)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,661)
<NET-ASSETS> 22,590
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,007
<OTHER-INCOME> 0
<EXPENSES-NET> (112)
<NET-INVESTMENT-INCOME> 895
<REALIZED-GAINS-CURRENT> (42)
<APPREC-INCREASE-CURRENT> (1,661)
<NET-CHANGE-FROM-OPS> (808)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (895)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,844
<NUMBER-OF-SHARES-REDEEMED> (473)
<SHARES-REINVESTED> 47
<NET-CHANGE-IN-ASSETS> 22,590
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 184
<AVERAGE-NET-ASSETS> 16,810
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .51
<PER-SHARE-GAIN-APPREC> (.66)
<PER-SHARE-DIVIDEND> (.51)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.34
<EXPENSE-RATIO> 1.00<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
