NEUBERGER & BERMAN EQUITY TRUST
N-18F1, 1997-08-25
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                       SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549

                                  FORM N-18F-1

                 Notification of Election Pursuant to Rule 18f-1

                    Under the Investment Company Act of 1940


                         NEUBERGER & BERMAN EQUITY TRUST

                            NOTIFICATION OF ELECTION

         The undersigned  registered  open-end  investment company, on behalf of
the following series: Neuberger & Berman International Trust ("Series"),  hereby
notifies the  Securities  and Exchange  Commission  that Series elects to commit
itself to pay in cash all  redemptions by a shareholder of record as provided by
Rule 18f-1 under the Investment  Company Act of 1940. It is understood that this
election is  irrevocable  while such Rule is in effect unless the  Commission by
order upon application permits the withdrawal of this Notification of Election.


                                    SIGNATURE

         Pursuant to the requirements of Rule 18f-1 under the Investment Company
Act of 1940, the Registrant has caused this  Notification of Election to be duly
executed  on its  behalf in the County of New York and the State New York on the
21st day of August, 1997.

                                 NEUBERGER & BERMAN EQUITY TRUST

                                      /s/ Michael J. Weiner
                                 By:  ---------------------------
                                          Michael J. Weiner
                                          Vice President
Attest:

/s/ Claudia Brandon
- ------------------------
Claudia A. Brandon
Secretary



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