Neuberger&Berman
Advisers Management Trust
Joint Prospectus
Supplement to the Prospectus dated May 1, 1997
MANAGEMENT AND ADMINISTRATION-Investment Manager, Administrator,
Sub-Adviser and Distributor
AMT International Investments-Felix Rovelli is on a leave of
absence as manager of the Series attending to a personal matter. Valerie Chang
is currently responsible for the day-to-day management of the Series. Ms. Chang
is an Assistant Vice President of N&B Management and was an assistant portfolio
manager of another international fund managed by N&B Management from December 2,
1996 until the present. She served as senior securities analyst for a mutual
fund company from 1995 until December, 1996 and an associate in the investment
banking division of two major investment banks from 1994 until 1995 and 1993
until 1994.
PERFORMANCE INFORMATION-Performance of Funds Comparable to the
International Portfolio and AMT International Investments.
The information set forth on page 28 of the Prospectus which shows
Felix Rovelli's performance record prior to the inception of the Series is not
the performance of the current portfolio manager and therefor is no longer
relevant.
The date of this supplement is June 2, 1997.
