SUPPLEMENT TO THE PROSPECTUS DATED DECEMBER 30, 1998
Neuberger Berman, LLC ("NB LLC") and Neuberger Berman Management Inc. are wholly
owned subsidiaries of Neuberger Berman Inc., a publicly held company.
Individuals who were principals of NB LLC are now employees of NB LLC.
This Supplement is dated October 11, 1999.
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SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION DATED DECEMBER 30, 1998
Neuberger Berman, LLC ("NB LLC") and Neuberger Berman Management Inc. ("NBMI")
are wholly owned subsidiaries of Neuberger Berman Inc. ("NB Inc."), a publicly
held company. Certain current and former directors and officers of NB Inc. and
its subsidiaries ("principals") and their affiliated family limited partnerships
and trusts ("family affiliates") own approximately 72% of NB Inc.'s outstanding
shares. These principals and their family affiliates have agreed to vote their
shares of NB Inc. in accordance with a majority of the shares held by all of the
principals and their family affiliates cast in a preliminary vote held prior to
any meeting of stockholders of NB Inc.
Lawrence Zicklin and Richard Cantor have retired from NB LLC and are now the
non-executive chairman and vice-chairman of NB Inc., respectively. They will
also remain on the Board of Directors of NBMI. Mr. Zicklin remains in his
position with the Trusts. Individuals who were principals of NB LLC are now
employees of NB LLC. Stanley Egener has retired as president of NBMI, but
remains in his position with the Trusts. Peter Sundman, formerly a senior vice
president, has succeeded him.
This Supplement is dated October 11, 1999.
