Neuberger&Berman
Advisers Management Trust
Joint Prospectus
Supplement to the Prospectus dated May 1, 1997
The following replaces the paragraph for AMT International Investments on
page 35 of the Prospectus.
Felix Rovelli, manager of the Series, is on a leave of absence attending to
a personal matter. Valerie Chang, an Assistant Vice President of N&B Management
and an assistant portfolio manager of another international fund managed by N&B
Management from December, 1996 until June, 1997, is currently responsible for
the day-to-day management of the Series. Ms. Chang served in the investment
banking division of Salomon Brothers and Morgan Stanley & Co., Inc. from 1993
until 1995 and as a senior securities analyst for TIAA/CREF from 1995 until
December, 1996.
The information set forth on page 28 of the Prospectus which shows the
performance record of Felix Rovelli prior to his joining the Neuberger & Berman
organization is no longer relevant.
The date of this supplement is June 3, 1997.
