NEUBERGER&BERMAN
EQUITY TRUST
SUPPLEMENT TO THE PROSPECTUS FOR
NEUBERGER&BERMAN GENESIS TRUST DATED DECEMBER 15, 1997
I. THE FOLLOWING DISCLOSURE REGARDING NEUBERGER&BERMAN GENESIS TRUST IS ADDED TO
THE PROSPECTUS:
NEUBERGER&BERMAN GENESIS TRUST IS CLOSED TO PURCHASES BY NEW INVESTORS EXCEPT
FOR PURCHASES BY ELIGIBLE INVESTORS AS DESCRIBED BELOW.
If you are already a shareholder of Neuberger&Berman GENESIS Trust, you may
continue to add to your Fund account. If you own shares of the Fund through a
401(k) plan, you may continue to add to your investment.
In addition, you may purchase shares of Neuberger&Berman GENESIS Trust:
o until April 15, 1998, if you are opening a new Individual Retirement Account
("IRA");
o if you are a participant in a 401(k) plan that has the Fund as an investment
option; or
o if you purchase shares under an asset allocation program sponsored by a
financial adviser who has one or more clients who are Fund shareholders.
II. THE FOLLOWING PARAGRAPH IS ADDED TO THE SECTION REGARDING MANAGEMENT AND
ADMINISTRATION:
MANAGEMENT AND ADMINISTRATION
INVESTMENT MANAGER, ADMINISTRATOR, DISTRIBUTOR, AND SUB-ADVISER
YEAR 2000. Like other financial and business organizations, the Fund and
Portfolio could be adversely affected if computer systems they rely on do not
properly process date-related information and data involving the years 2000 and
after. N&B Management and Neuberger&Berman are taking steps that they believe
are reasonable to address this problem in their own computer systems and to
obtain assurances that comparable steps are being taken by the Fund's and
Portfolio's other major service providers. N&B Management also attempts to
evaluate the potential impact of this problem on the issuers of investment
securities that the Portfolio purchases. At this time, however, there can be no
assurance that these steps will be sufficient to avoid any adverse impact on the
Fund and Portfolio.
This Supplement is dated March 16, 1998, and replaces the Supplement dated
March 2, 1998.
