NEUBERGER BERMAN MUNICIPAL FUND INC. 
By The Boards of Directors of the three Neuberger Berman Closed-End Intermediate Municipal Funds have declared monthly distributions payable in June, July and August 2007. The Funds seek to provide income that is exempt from regular federal income tax. Additionally, the California Intermediate Municipal Fund seeks to provide income that is exempt from California personal income tax and the New York Intermediate Municipal Fund seeks to provide income that is exempt from New York state and New York City personal income tax. Distributions of the Funds may be subject to the federal alternative minimum tax for some stockholders.
The following dates apply to the Funds' distribution declarations:
| Record Date | Ex-Date | Payable Date | ||
| May 31, 2007 | May 29, 2007 | June 15, 2007 | ||
| June 29, 2007 | June 27, 2007 | July 16, 2007 | ||
| July 31, 2007 | July 27, 2007 | August 15, 2007 |
The Funds will make the distributions described above in the following per share amounts:
NBH Neuberger Berman
Intermediate Municipal Fund Inc. $0.055894
NBW Neuberger Berman California
Intermediate Municipal Fund Inc. $0.058565
NBO Neuberger Berman New York
Intermediate Municipal Fund Inc. $0.056840In 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. This 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 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; and 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.
