Four Nuveen Municipal Closed-End Funds Issue At-Par Redemption Notices for Auction-Rate Securities

• Press Release
• Source: Nuveen Investments
• On 4:58 pm EDT, Thursday October 1, 2009

CHICAGO--(BUSINESS WIRE)--Four closed-end funds sponsored by Nuveen Investments today called for redemption at par a portion of their outstanding auction-rate preferred securities (ARPS). The funds’ Board of Trustees has approved each redemption, which total more than $17 million. Each of the funds will be using tender option bonds (TOBs) to finance the partial redemption of its ARPS. TOBs are floating rate securities issued by trusts into which a fund has deposited municipal securities.

Related Quotes

Symbol	Price	Change
NCU	11.76	+0.04

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The funds issuing at-par redemption notices are:

For each fund having multiple auction-rate preferred share series, the fund’s redemption amount will be allocated on a pro rata basis among such series.

The Depository Trust Company (DTC), the securities’ holder of record, determines how each partial redemption for a particular series will be allocated among each participant broker-dealer account for that series. Each participant broker-dealer, as nominee for underlying beneficial owners (street-name shareholders), in turn determines how redeemed shares are allocated among its underlying beneficial owners. The procedures used by different broker-dealers to allocate redeemed shares among beneficial owners may differ from each other as well as from the procedures used by DTC.

The tables below list the total number of shares, par amounts and scheduled redemption dates for these redemptions, which are pro rata by series:

NVG is redeeming $4.575 million of its $202.65 million of currently outstanding ARPS.

NCU is redeeming $4.5 million of its $38.875 million of currently outstanding ARPS.

NVX is redeeming $4.5 million of its $98.275 million of currently outstanding ARPS.

NUO is redeeming $4.0 million of its $77.0 million of currently outstanding ARPS.

For more information about Nuveen closed-end funds, visit www.nuveen.com/cef. ARPS information and updates are posted on Nuveen’s auction-rate preferred resource center at www.nuveen.com/arps.

Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of HydePark, NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, the Company managed $128 billion of assets on June 30, 2009. For more information, please visit the Nuveen Investments website at www.nuveen.com.

Nuveen Investments
Media Contact:
Kristyna Sujata, 312-917-8343
KRISTYNA.SUJATA@NUVEEN.COM