Exhibit (a)(64)


              HOREJSI TRUST EXTENDS ITS TENDER OFFER FOR SHARES OF
                 NEUBERGER BERMAN REAL ESTATE INCOME FUND INC.


BOULDER,  CO.,  July 27,  2007 - The  Lola  Brown  Trust  No.  1B (the  "Trust")
announced  today that it is  extending  its tender  offer to purchase  shares of
common stock of Neuberger  Berman Real Estate Income Fund Inc. (NYSE:  NRL) (the
"Fund") to 5:00 p.m., New York City time on Friday, August 17, 2007.

The Trust is amending the tender offer statement on file with the Securities and
Exchange  Commission (the "SEC") to reflect the extension of the offer and other
relevant information.  In addition, the Trust is currently engaged in settlement
discussions with the Board of Directors of the Fund regarding pending litigation
as more fully described in the documents filed with the SEC. The result of these
discussions may have a material impact on the Trust's tender offer.

Each security  holder of the Fund should read the tender offer  statement  filed
with the SEC by the Trust because they contain  important  information about the
tender offer. Security holders of the Fund can obtain the tender offer statement
and other  documents  that are filed with the SEC for free on the Securities and
Exchange Commission's web site at http://www.sec.gov.

MacKenzie  Partners,  Inc.  is acting as the  information  agent and The Colbent
Corporation  is the  depository.  Copies of the Offer to  Purchase,  the Seventh
Supplement to the Offer to Purchase, the Consent and Letter of Transmittal,  and
other related  documents may be obtained at no charge from  MacKenzie  Partners,
Inc. at (800) 322-2885 (toll-free),  (212) 929-5500 (collect), or from the SEC's
web site at www.sec.gov.

This news release is not an offer to purchase,  nor is it a  solicitation  of an
offer to sell, any securities. The tender offer may only be made pursuant to the
Offer to  Purchase,  as amended,  and the  accompanying  Letter of  Transmittal.
Holders of shares of common stock of the Fund should read carefully the Offer to
Purchase and related materials,  including any amendments thereto,  because they
contain  important  information.  The Trust has mailed a copy of the  applicable
Offer to Purchase,  the Letter of Transmittal and related  documents,  including
amendments thereto, to each of the holders of common stock of the Fund.


Forward Looking Statements


Any  statements  in this  press  release  that  are  not  historical  facts  are
forward-looking statements that involve risks and uncertainties;  actual results
may differ from the  forward-looking  statements.  Sentences or phrases that use
such words as "believes," "anticipates," "plans," "may," "hopes," "can," "will,"
"expects," "is designed to," "with the intent,"  "potential" and others indicate
forward-looking  statements, but their absence does not mean that a statement is
not  forward-looking.  The Lola Brown Trust No. 1B  undertakes  no obligation to
publicly  release  the  results  of  any  revisions  to  these   forward-looking
statements  that may be made to reflect events or  circumstances  after the date
hereof or to reflect the occurrence of unanticipated events.

Contact:

The Lola Brown Trust No. 1B
Media Contact: Joel Terwilliger
(303) 442-2156