Neuberger Berman High Yield Strategies Fund Announces Monthly Distribution

NEW YORK--(Business Wire)--
The Board of Trustees of Neuberger Berman High Yield Strategies Fund (NYSE: NHS)
has declared a monthly distribution of $0.085 per share. The distribution
announced today is payable on July 31, 2009, has a record date of July 15, 2009
and an ex-date of July 13, 2009.

The Fund`s ability to maintain its distribution will be dependent on several
factors, including the stability of income received from its investments, the
degree of cost associated with its leverage and the level of other Fund
expenses. There is no assurance that the Fund will always be able to pay a
distribution of any particular rate or that a distribution will consist only of
net investment income.

The distribution declared, 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. This notice would be for informational purposes, and would
disclose, among other things, estimated portions of the distributions, if any,
consisting of net investment income, capital gain and return of capital.

Neuberger Berman Group LLC is one of the world`s largest private, independent
employee-controlled asset management companies. As of May 29, 2009, assets under
management were approximately $162 billion. Established in 1939, Neuberger
Berman is a leader in a broad range of global investment solutions - equity,
fixed income, and alternatives - to institutions and individuals though
customized separately managed accounts, mutual funds and alternative investment
products. 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. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in the securities
markets or a decline in the Fund`s performance, a general downturn in the
economy, competition from other closed-end investment companies, changes in
government policy or regulation, inability of the Fund`s investment adviser to
attract or retain key employees, inability of the Fund to implement its
investment strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory organizations

Neuberger Berman Management LLC
Investor Information
877-461-1899

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