NEUBERGER & BERMAN INCOME TRUST
Supplement dated June 26, 1997 to
Statement of Additional Information dated February 3, 1997
INVESTMENT INFORMATION
The section regarding banking and savings institution securities (pages 8-9) is
revised to read as follows:
Banking and Savings Institution Securities (Both Portfolios). The
Portfolios may invest in banking and savings institution obligations, which
include CDs, time deposits, bankers' acceptances, and other short-term debt
obligations issued by commercial banks and savings institutions. CDs are
receipts for funds deposited for a specified period of time at a specified rate
of return; time deposits generally are similar to CDs, but are uncertificated.
Bankers' acceptances are time drafts drawn on commercial banks by borrowers,
usually in connection with international commercial transactions. The CDs, time
deposits, and bankers' acceptances in which the Portfolios invest typically are
not covered by deposit insurance.
