Four Neuberger Berman Closed-End Funds Announce That Fitch Ratings Has Withdrawn Its Ratings for Their Auction Market Preferred Shares, Moody’s Investors Service Continues to Rate Auction Market Preferred Shares Aaa

Neuberger Berman California Intermediate Municipal Fund Inc. (NYSE Amex: NBW), Neuberger Berman Intermediate Municipal Fund Inc. (NYSE Amex: NBH), Neuberger Berman New York Intermediate Municipal Fund Inc. (NYSE Amex: NBO) and Neuberger Berman Real Estate Securities Income Fund Inc. (NYSE Amex: NRO) (each, a “Fund” and, collectively, the “Funds”) announced today that Fitch Ratings (“Fitch”) has withdrawn its rating on each respective Fund’s auction market preferred shares (“AMPS”). Each Fund intends to continue using the rating services provided by Moody’s Investors Service, which continues to rate each Fund’s AMPS Aaa, its highest rating category.

Each Fund’s Board of Directors determined not to implement Fitch’s new closed-end fund ratings criteria after careful consideration of the potential effect of Fitch’s new asset discount factors and diversification parameters on portfolio management. Accordingly, each Fund requested that Fitch withdraw its ratings on the AMPS. In its press release distributed earlier today, Fitch stated that at the time of the rating withdrawals, the asset coverage available to each Fund’s AMPS, as calculated using the discount factors and diversification framework outlined in its updated closed-end fund rating criteria, is consistent with a Fitch AAA rating.

Each Fund continues to pursue its stated investment objective and strategy, has not changed the amount of leverage that it employs and currently maintains the asset coverage ratio required by the Investment Company Act of 1940, as amended (the “1940 Act”). Each Fund’s AMPS continue to be subject to certain redemption provisions and other conditions that are based on the requirements of the 1940 Act and certain rating agency criteria.

About Neuberger Berman

Neuberger Berman Group LLC is one of the world’s leading independent, employee-controlled asset management companies. As of September 30, 2009, assets under management were approximately $169 billion. Established in 1939, Neuberger Berman is a leader in a broad range of global investment solutions – equity, fixed income, and alternatives – to institutions and individuals through customized separately managed accounts, mutual funds and alternative investment products. For more information please visit our website at www.nb.com.

Statements made in this release that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in a Fund’s performance, a general downturn in the economy, competition from other closed-end investment companies, changes in government policy or regulation, inability of a Fund’s investment adviser to attract or retain key employees, inability of a Fund to implement its investment strategy, inability of a Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.