Neuberger Berman Dividend Advantage Fund Inc. Announces Quarterly Distribution

NEW YORK--(Business Wire)--
The Board of Directors of Neuberger Berman Dividend Advantage Fund Inc. (AMEX:
NDD) (the "Fund" or "NDD") has declared a quarterly distribution of $0.065 per
share. The quarterly distribution announced today is payable on September 15,
2009, has a record date of August 25, 2009 and an ex-date of August 21, 2009.

Under its level distribution policy, the Fund endeavors to establish a
distribution rate that its Board believes is sustainable for a reasonable time
period, subject to market conditions. There is no assurance that the Fund will
always be able to pay a distribution of any particular size, or that a
distribution will consist of only net investment income. The Fund`s continuing
ability to maintain a stable distribution will depend on a number of factors,
including the stability of income received from its investments, availability of
capital gains, distributions paid on preferred stock and interest paid on notes]
and the level of Fund other expenses.

Due to an effort to maintain a stable distribution amount, the distributions
announced today, 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. The 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 LLC, the Fund`s investment manager, is a subsidiary
of Neuberger Berman Holdings LLC, an investment advisory company serving
individuals, families, and taxable and non-taxable institutions with a broad
range of investment products, services and strategies. Neuberger Berman engages
in wealth management services including private asset management, mutual funds,
institutional management and alternative investments. For further information
about Neuberger Berman please visit 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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