$166,235,000 Aggregate Principal Amount at Maturity of Neuberger Berman's Zero Coupon Senior Convertible Notes Remains Outstanding.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 4, 2002 Neuberger Berman Inc. (NYSE NYSE See: New York Stock Exchange : NEU NEU Neutral NEU Northeastern University (Boston, MA, USA) NEU Near East University (North Cyprus, Turkey) NEU Northeast University (China) ) announced that, in accordance with the terms of the indenture governing its Zero Coupon Senior Convertible Notes due 2021 (the "Notes"), today it is repurchasing in cash $25,000 aggregate principal amount at maturity of the Notes that were validly tendered and not withdrawn as of the close of business on Friday, November 1, 2002, at an aggregate accreted cost of $21,767. Each Note will be purchased at its accreted value accreted value The current value of an original-issue discount bond, taking into account imputed interest that has accumulated. of $870.67 per $1,000 principal amount at maturity. As a result, $166,235,000 aggregate principal amount at maturity of the Notes remains outstanding. Neuberger Berman Inc. through its subsidiaries is an investment advisory company with $53.6 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , as of September 30, 2002. For 63 years, the firm has provided clients with a broad range of investment products, services and strategies. The Company engages in private asset management, wealth management services, tax planning Tax planning Devising strategies throughout the year in order to minimize tax liability, for example, by choosing a tax filing status that is most beneficial to the taxpayer. and personal and institutional trust services, mutual funds and institutional management, and professional securities services for individuals, institutions, corporations, pension funds, foundations and endowments. Its website, and this news release, can be accessed 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Company's products' performance, a general downturn in the economy, competition from other companies, changes in government policy or regulation, inability of the Company to attract or retain key employees, inability of the Company to implement its operating strategy and acquisition strategy, inability of the Company to manage rapid expansion and unforeseen costs and other effects related to legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. or investigations of governmental and self-regulatory organizations. |
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