Neuberger Berman Real Estate Securities Income Fund Announces Increase In Distribution Rate And Declaration Of Next Monthly Distribution

NEW YORK, Oct. 7, 2014 /PRNewswire/ -- Neuberger Berman Real Estate Securities Income Fund Inc. (NYSE MKT: NRO) has announced a 50% increase in its monthly distribution rate to $0.03 per share of common stock from the prior monthly distribution rate of $0.02 per share.  The Fund has also declared its next monthly distribution at the new rate, which is payable on November 28, 2014, has a record date of November 17, 2014 and has an ex-date of November 13, 2014.

The increased distribution rate represents an annualized distribution rate of 7.4% per share based on the Fund's closing market price of $4.85 per share on October 6, 2014.  The increase in the Fund's distribution rate is the result of numerous factors, including the growth in distributions made by the Fund's investments and the Fund's current and projected level of earnings as well as the expected increased stability in the Fund's cost of leverage.  The Fund recently refinanced its debt leverage and increased the total amount of leverage it employs.  As a result, the Fund's fixed-rate leverage has increased from 24% to 80% of its total leverage.

Under its level distribution policy, the Fund anticipates that it will make regular monthly distributions, subject to market conditions, at the increased rate of $0.03 per share, unless further action is taken to determine another rate. There is no assurance that the Fund will always be able to pay a distribution of any particular size, or that a distribution will consist of only net investment income. The Fund's ability to maintain its current distribution rate will depend on a number of factors, including the stability of income received from its investments, availability of capital gains, the cost of leverage and the level of other Fund expenses.

The distribution announced today, as well as future distributions, may consist of net investment income, realized capital gains and return of capital. In compliance with Section 19 of the Investment Company Act of 1940, as amended, a notice would be provided for any distribution that does not consist solely of net investment income. The notice would be for informational purposes, and would disclose, among other things, estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital.

Neuberger Berman is a 75-year-old private, independent, employee-controlled investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 17 countries, Neuberger Berman's team is more than 2,000 professionals and the company was named by Pensions & Investments as a 2013 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $257 billion in client assets as of June 30, 2014. 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.  Certain statements in this press release, such as those related to the use of leverage, constitute forward looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Fund, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Among other risks and uncertainties are the ability to successfully use leverage and the possibility that costs associated with the leverage are higher than expected.  As a result, no assurance can be given as to future results, levels of activity, including the level of leverage, performance or achievements, and neither the Fund nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.

Contact:
Neuberger Berman Management LLC
Investor Information
(877) 461-1899

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SOURCE Neuberger Berman Real Estate Securities Income Fund Inc.