NEUBERGER&BERMAN NEUBERGER&BERMAN
EQUITY TRUST EQUITY ASSETS
SUPPLEMENT TO THE PROSPECTUS DATED DECEMBER 15, 1997
I. The Table on page 5 summarizing the features of the Funds is revised to
read as follows with respect to Neuberger & Berman SOCIALLY RESPONSIVE
Trust:
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SOCIALLY RESPONSIVE TRUST Broadly diversified, Seeks long-term capital
medium- to large-cap appreciation by investing
value fund. in common stocks of
companies that meet both
financial and social
criteria.
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II. The section regarding the investment program of Neuberger&Berman SOCIALLY
RESPONSIVE Portfolio (pages 22-23) is revised to include the
following:
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The Portfolio invests primarily in the stocks of medium- to
large-capitalization companies. For more information, see "Special
Considerations of Small- and Mid-Cap Company Stocks" on page 24.
The date of this Supplement is May 4, 1998.
