<PAGE>
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 ASSETS
NOTIFICATION OF ELECTION
The undersigned registered open-end investment company, on behalf
of the following series: Neuberger & Berman Focus Assets, Neuberger &
Berman Guardian Assets, Neuberger & Berman Manhattan Assets, Neuberger &
Berman Partners Assets and Neuberger & Berman Socially Responsive Trust
(each, a "Series"), hereby notifies the Securities and Exchange Commission
that each 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 12th day of August, 1996.
NEUBERGER & BERMAN EQUITY ASSETS
By /s/ Michael J. Weiner
------------------------------
Michael J. Weiner
Vice President
-------------------------------
Title
Attest:
/s/ Claudia A. Brandon
----------------------
Claudia A. Brandon
Secretary
<PAGE>
