NEUBERGER BERMAN EQUITY ASSETS
497, 2000-11-17
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NEUBERGER BERMAN
EQUITY ASSETS(R)


SUPPLEMENT TO THE PROSPECTUS DATED DECEMBER 1, 1999

Effective  December 1, 2000,  Neuberger Berman Socially  Responsive  Assets will
cease  operations.  Any  remaining  investments  in the fund as of the  close of
business on December 1, 2000 will be  liquidated at net asset value and the fund
will dissolve.

The date of this supplement is November 15, 2000.




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