Neuberger Berman Dividend Advantage Fund Inc. Announces Date of Special Meeting of Stockholders

NEW YORK--(Business Wire)--
Neuberger Berman Dividend Advantage Fund Inc. (AMEX: NDD) (the "Fund") announced
today that its Board of Directors (the "Board") has scheduled a Special Meeting
of Stockholders (the "Meeting") to be held on Tuesday, October 13, 2009 at 2:00
p.m. Eastern time at the offices of Neuberger Berman LLC, in New York City. The
record date for stockholders to be eligible to vote at the Meeting is September
3, 2009. The Meeting is being called to vote on a proposal to liquidate and
dissolve the Fund, as set forth in a Plan of Liquidation and Dissolution.

If stockholders approve the proposal, the Fund will commence an orderly
liquidation of its assets, unwind its leverage, discharge its liabilities
(including its liabilities in connection with unwinding its leverage), cease
trading on the NYSE Amex (formerly, American Stock Exchange) and distribute its
net proceeds to its common stockholders. Additional information will be included
in the proxy statement to be sent to stockholders in advance of the Meeting.

About Neuberger Berman

Neuberger Berman Group LLC is one of the world`s largest private, independent,
employee-controlled asset management companies. As of June 30, 2009, assets
under management were approximately $158 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 manager 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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