NEUBERGER&BERMAN ADVISERS MANAGEMENT TRUST
Supplement to the Prospectus dated May 1, 1996
The third paragraph under the heading "Investment Manager,
Administrator, Sub-Adviser and Distributor" is amended to read as follows:
Theodore Giuliano, the President and Trustee of the Trust and of
Managers Trust, is a general partner of Neuberger&Berman. Mr. Giuliano
is the Manager of the Fixed Income Group of Neuberger&Berman, which he
helped to establish in 1984. The Fixed Income Group manages fixed
income accounts that had approximately $11.1 billion of assets as of
December 31, 1995.
Mr. Giuliano, along with Josephine P. Mahaney with respect to AMT
Liquid Asset Investments, Thomas G. Wolfe with respect to AMT Limited Maturity
Bond Investments and the debt securities portion of AMT Balanced Investments,
and William H. Cunningham with respect to AMT Government Income Investments,
shares primary responsibility for the day-to-day management of the fixed
income Series of Managers Trust.
The date of this supplement is August 9, 1996.
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NEUBERGER&BERMAN ADVISERS MANAGEMENT TRUST
Supplement to the Statement of Additional Information
dated May 1, 1996
The following is added as a final paragraph under the
heading "Investment Management, Advisory and Administration
Services - Investment Companies Advised":
The Series are subject to certain limitations imposed on all advisory
clients of Neuberger&Berman (including the Series, Other N&B Funds, and
other accounts) and personnel of Neuberger&Berman and its affiliates.
These include, for example, limits that may be imposed in certain
industries or by certain companies, and policies of Neuberger&Berman
that limit the aggregate purchases, by all accounts under management,
of outstanding shares of public companies.
The date of this supplement is August 9, 1996.
