-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TEmMPWtqKt/nJxyJuotLgCcZBGj1fEE18TXc6X4X2e+5WkIbOQEzbpb2OH86ix8s hWXJrmTT6Hb62VexFc0h+A== 0000898432-07-001056.txt : 20071228 0000898432-07-001056.hdr.sgml : 20071228 20071228172541 ACCESSION NUMBER: 0000898432-07-001056 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20071228 DATE AS OF CHANGE: 20071228 EFFECTIVENESS DATE: 20071228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEUBERGER BERMAN REALTY INCOME FUND INC CENTRAL INDEX KEY: 0001221327 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-21315 FILM NUMBER: 071332739 BUSINESS ADDRESS: STREET 1: 605 THIRD AVENUE 2ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10158 BUSINESS PHONE: 2124768800 MAIL ADDRESS: STREET 1: 605 THIRD AVENUE 2ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10158 DEFA14A 1 nbrif_schedule14a.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. ) Filed by the Registrant [X] Filed by a Party other than the Registrant [ ] Check the appropriate box: [ ] Preliminary Proxy Statement [ ] CONFIDENTIAL, FOR USE OF THE COMMISSION ONLY (AS PERMITTED BY RULE 14a-6(e)(2)) [ ] Definitive Proxy Statement [X] Definitive Additional Materials [ ] Soliciting Material Pursuant to s.240.14a-12 NEUBERGER BERMAN REALTY INCOME FUND INC. - ------------------------------------------------------------------------------- (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): [X] No fee required. [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. 1) Title of each class of securities to which transaction applies: 2) Aggregate number of securities to which transaction applies: 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): 4) Proposed maximum aggregate value of transaction: 5) Total fee paid: [ ] Fee paid previously with preliminary materials. [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: 2) Form, Schedule or Registration Statement No.: 3) Filing Party: 4) Date Filed: - ------------------------------------------------------------------------------- Chairman's Letter Dear Shareholder, I am pleased to present to you this annual report for Neuberger Berman Realty Income Fund Inc. for the fiscal year ended October 31, 2007. The report includes portfolio commentary, a listing of the Fund's investments, and its audited financial statements for the reporting period. In addition, I am taking this opportunity to highlight several significant initiatives taken by the Fund's Board of Directors during the fiscal year. o In the first half of calendar 2007, the Fund amended its application for exemptive relief from the Securities and Exchange Commission to allow it to implement a "managed distribution plan." This plan would permit the Fund to distribute long-term capital gains to shareholders more frequently than is otherwise permitted by law. The Board believes that a managed distribution plan may help the Fund attract new investors, support the market price of its common stock, and help narrow the discount at which the Fund's common stock trades. o In April 2007, the Board authorized an increase in the amount of the Fund's monthly distribution to $0.203325 per share from $0.1125, effective with the May distribution. o In October 2007, the Board approved a proposal to merge the Fund into the Neuberger Berman Real Estate Securities Income Fund Inc. (AMEX: NRO), pending shareholder approval. If approved, the transaction will result in one of the largest domestic real estate closed-end funds and should eliminate confusion in the market place. The Board believes that the larger merged fund may provide shareholders benefits such as enhanced liquidity and increased leverage. Although there can be no assurances, the Board also believes that the transaction could have the positive effect of narrowing the discount from net asset value at which the Fund's common stock trades. These actions are consistent with the Board's proactive posture--one focused on continually seeking actions that it believes are in the best interests of the Fund's shareholders. Thank you for your confidence in Neuberger Berman. We will continue to do our best to earn it. Sincerely, /s/ Peter Sundman Peter Sundman Chairman of the Board Neuberger Berman Realty Income Fund Inc. -----END PRIVACY-ENHANCED MESSAGE-----