Neuberger Berman Realty Income Fund Inc. (''NRI'') and Neuberger Berman Real Estate Securities Income Fund (''NRO'') Announce Expected Closing of Merger

Neuberger Berman Realty Income Fund Inc. (NYSE: NRI) and Neuberger Berman Real Estate Securities Income Fund Inc. (AMEX: NRO) today announced that they anticipate that the merger of NRI with and into NRO will be effective after the close of business on Friday, March 7, 2008. Details of the share conversion factor will be determined after the close of business on Friday and will be communicated along with other important information relating to the closing of the merger by press release prior to the open of business on Monday, March 10, 2008.

Neuberger Berman Management Inc., the Funds’ investment manager, is a subsidiary of Neuberger Berman Inc., an investment advisory company serving individuals, families, and taxable and non-taxable institutions with a broad range of investment products, services and strategies. A Lehman Brothers company, Neuberger Berman engages in wealth management services including private asset management, tax and financial planning, and personal and institutional trust services; mutual funds, institutional management and alternative investments. For further information about Neuberger Berman please visit www.nb.com.

Lehman Brothers (ticker symbol: LEH), an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients and high-net-worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. The Firm is headquartered in New York, with regional headquarters in London and Tokyo, and operates in a network of offices around the world. For further information about Lehman Brothers’ services, products and recruitment opportunities, visit the Firm's Web site at www.lehman.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.