Promotions Announced At Neuberger Berman Trust Companies

Nov 19, 2001, 00:00 ET from Neuberger Berman

    NEW YORK, Nov. 19 /PRNewswire/ -- Neuberger Berman (NYSE:   NEU) announced
 that Albert C. Bellas has been named Chief Executive Officer of Neuberger
 Berman Trust Company, N.A. and Neuberger Berman Trust Company of Delaware.  He
 continues to serve as Chairman of the Board of both organizations.  It was
 also announced that Stephen Brent Wells, who was Chief Operating Officer of
 Neuberger Berman Trust Company, N.A., has been named President of both
 organizations. The Trust Companies offer comprehensive, customized fiduciary
 and wealth management services to high net worth individuals, family offices,
 foundations, charities and employee benefit plans for the preservation,
 growth, and transfer of wealth.
     "Albert Bellas and Stephen Wells are seasoned trust and wealth management
 professionals," said Heidi L. Schneider, Executive Vice President and Head of
 the Private Asset Management Group at Neuberger Berman.  "They will continue
 to enhance our commitment to serving wealthy individuals, families and family
 offices in their new roles with our Trust Companies."
     Mr. Bellas joined Neuberger Berman in January 2001 and became Chairman of
 the Trust Companies.  Before joining Neuberger Berman, he was a Managing
 Director of OFFITBANK for eight years.  His prior experience includes 13 years
 at Shearson Lehman Brothers, where his positions included Senior Executive
 Vice President, Member of the Board, and Director of the Public Finance
 Division.  Mr. Bellas holds an M.B.A. from the Columbia University Graduate
 School of Business, a law degree from the University of Chicago Law School and
 an undergraduate degree from Yale University.
     Mr. Wells has been with Neuberger Berman since July 2001.  Prior to
 Neuberger Berman, he was a Managing Director at OFFITBANK for seven years and
 before that held various senior management positions at Morgan Stanley Asset
 Management, Goldman Sachs Asset Management and Gabelli & Co.  Mr. Wells
 started his career as a trust and estate attorney with Cadwalader, Wickersham
 & Taft.  He received a law degree from New York University School of Law and
 an undergraduate degree from Princeton University.
     Neuberger Berman Inc. through its subsidiaries is an investment advisory
 company with $52.1 billion in assets under management, as of September 30,
 2001. For more than 60 years, the firm has provided clients with a broad range
 of investment products, services and strategies. The Company engages in
 private asset management, wealth management services, tax planning and
 personal and institutional trust services, mutual funds and institutional
 management, and professional securities services for individuals,
 institutions, corporations, pension funds, foundations and endowments.
     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 the Company's products' performance, a
 general downturn in the economy, competition from other companies, changes in
 government policy or regulation, inability of the Company to attract or retain
 key employees, inability of the Company to implement its operating strategy
 and acquisition strategy, inability of the Company to manage rapid expansion
 and unforeseen costs and other effects related to legal proceedings or
 investigations of governmental and self-regulatory organizations.
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