-----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,
 JPPi/DP8SDXH/i1bctlvI0JddBOvZBvcKzLxNFdkxEaOSiqQNLmytftvU4qIQ26V
 5mqj78ZwlJ91rrRUh+HBWA==

<SEC-DOCUMENT>0000898432-96-000542.txt : 19961218
<SEC-HEADER>0000898432-96-000542.hdr.sgml : 19961218
ACCESSION NUMBER:		0000898432-96-000542
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19961217
SROS:			NONE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEUBERGER & BERMAN EQUITY TRUST
		CENTRAL INDEX KEY:			0000906926
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-64368
		FILM NUMBER:		96682082

	BUSINESS ADDRESS:	
		STREET 1:		605 THIRD AVE
		STREET 2:		2ND FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10158-0006
		BUSINESS PHONE:		2124768800
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<TEXT>


<PAGE>
         [LOGO]
 
Supplement to the Prospectus dated December 6, 1996
 
  MANAGEMENT AND ADMINISTRATION--Investment Manager, Administrator, Distributor,
and Sub-Adviser
 
  Neuberger&Berman FOCUS Portfolio and Neuberger&Berman GUARDIAN
Portfolio--Effective  December 31, 1996,  Lawrence Marx III  will no longer have
responsibility for  management of  these Portfolios.  Kent C.  Simons and  Kevin
Risen will continue to be responsible for day-to-day management.
 
               The date of this Supplement is December 17, 1996.
 
     [LOGO]
(recycle logo)
PRINTED ON RECYCLED PAPER
                                                                    NBLSP1221296

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----