Nuveen Closed-End Funds Declare Monthly Distributions

November 2, 2009 5:24 PM EST

CHICAGO--(BUSINESS WIRE)-- Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that 107 Nuveen closed-end funds had declared regular monthly distributions. These funds represent a broad range of tax-exempt, taxable fixed and floating rate income investment strategies for investors seeking to build sophisticated and diversified long-term investment portfolios for cash flow. The funds' monthly distributions are listed below.

Monthly distributions from Nuveen's municipal closed-end funds and portfolios are generally exempt from regular Federal income taxes, and monthly distributions of single-state municipal funds and portfolios are also exempt from state and, in some cases, local income taxes for in-state residents. Unless otherwise stated in the funds' objectives, monthly distributions of the municipal funds and portfolios may be subject to the Federal Alternative Minimum Tax for some shareholders.

Nuveen funds generally seek to pay stable distributions at rates that reflect each fund's past results and projected future performance. During certain periods, each fund may pay distributions at a rate that may be more or less than the amount of net investment income actually earned by the fund during the period. If a fund cumulatively earned more than it has paid in distributions, it holds the excess in reserve as undistributed net investment income (UNII) as part of the fund's net asset value (NAV). Conversely, if a fund has cumulatively paid distributions in excess of its earnings, the excess constitutes negative UNII that is likewise reflected in the fund's NAV. Each fund will, over time, pay all of its net investment income as distributions to shareholders. The funds' positive or negative UNII balances are disclosed from time to time in their periodic shareholder reports, and are also on www.nuveen.com/cef.

JFP, the Nuveen Tax-Advantaged Floating Rate Fund, has implemented a managed distribution policy which permits it to include as part of its monthly distributions supplemental amounts from sources other than net investment income. This fund currently expects that any supplemental amounts would represent anticipated portfolio price appreciation over time once financial market conditions stabilize and prospects begin to improve for the middle market financial companies in which the fund primarily invests. Because the timing and extent of any such recovery is presently difficult to assess in light of continued market volatility and the negative effects on financial companies of the on-going credit crisis, the fund's latest monthly distribution is estimated to contain only net investment income and does not include any supplemental amounts.

Because a managed distribution program permits regular distributions from sources other than net investment income, it is important to understand the components of a managed distribution and the fund's NAV performance relative to its distribution rate. JFP posts information and estimates on www.nuveen.com/cef regarding the sources of distributions and total return performance over various time periods. In addition, at least in any month in which fund distributions include supplemental amounts from sources other than net investment income, the fund will also send this information directly to shareholders. Estimates are for informational purposes only, and the final determination of the source and tax characteristics of all distributions paid in 2009 will be made in early 2010 and reported to shareholders on Form 1099-DIV at that time.

In addition, distributions for certain funds investing in real estate investment trusts (REITs) may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported to each fund after year-end by REIT securities held by each fund. The Nuveen preferred securities funds, JTP, JPS and JHP may invest in REITs; a list of funds that are likely to be affected by re-characterization is posted to www.nuveen.com each January, and updated tax characteristics are posted to the web site and mailed to shareholders via form 1099-DIV during the first quarter of the year.

The following dates apply to today's distribution declarations:

Record Date        November 15, 2009

Ex-Dividend Date   November 11, 2009

Payable Date       December 1, 2009

                                        Monthly Tax-Free Distribution Per Share

                                                Change From
                                        Amount
                                                Previous Month

Ticker  Closed-End Portfolios

NXP     Select Portfolio                $.0595  -

NXQ     Select Portfolio 2              .0555   -

NXR     Select Portfolio 3              .0535   -

NXC     CA Select Portfolio             .0555   -

NXN     NY Select Portfolio             .0510   -

        Closed-End Funds

        Non-Leveraged Funds

NUV     Municipal Value                 .0390   -

NUW     Municipal Value 2               .0750   -

NCA     CA Municipal Value              .0380   -

NNY     NY Municipal Value              .0355   -

NMI     Municipal Income                .0470   -

NIM     Select Maturities               .0350   -

NYV     NY Municipal Value 2            .0640   -

NCB     CA Municipal Value 2            .0690   -

NJV     NJ Municipal Value              .0640   -

NPN     PA Municipal Value              .0650   -

        Leveraged Funds

        National

NPI     Premium Income                  .0700   -

NPP     Performance Plus                .0720   -

NMA     Advantage                       .0760   -

NMO     Market Opportunity              .0740   -

NQM     Investment Quality              .0700   -

NQI     Insured Quality                 .0680   -

NQS     Select Quality                  .0750   -

NQU     Quality Income                  .0720   -

NIO     Insured Opportunity             .0665   -

NPF     Premier                         .0660   -

NIF     Premier Insured                 .0660   -

NPM     Premium Income 2                .0720   -

NPT     Premium Income 4                .0660   -

NPX     Insured Premium 2               .0610   -

NAD     Dividend Advantage              .0740   -

NXZ     Dividend Advantage 2            .0780   -

NZF     Dividend Advantage 3            .0745   -

NVG     Insured Dividend Advantage      .0700   -

NEA     Insured Tax-Free Advantage      .0650   -

NMZ     High Income Opportunity Fund    .0835   -

NMD     High Income Opportunity Fund 2  .0800   -

        California

NCP     Performance Plus                .0690   -

NCO     Market Opportunity              .0730   -

NQC     Investment Quality              .0720   -

NVC     Select Quality                  .0750   -

NUC     Quality Income                  .0750   -

NPC     Insured Premium Income          .0630   -

NCL     Insured Premium Income 2        .0670   -

NCU     Premium Income                  .0620   -

NAC     Dividend Advantage              .0680   -

NVX     Dividend Advantage 2            .0760   -

NZH     Dividend Advantage 3            .0700   -

NKL     Insured Dividend Advantage      .0705   -

NKX     Insured Tax-Free Advantage      .0650   -

        New York                                -

NNP     Performance Plus                .0670   -

NQN     Investment Quality              .0625   -

NVN     Select Quality                  .0620   -

NUN     Quality Income                  .0610   -

NNF     Insured Premium Income          .0560   -

NAN     Dividend Advantage              .0645   -

NXK     Dividend Advantage 2            .0655   -

NKO     Insured Dividend Advantage      .0635   -

NRK     Insured Tax-Free Advantage      .0580   -

        Other State Funds

NAZ     AZ Premium Income               .0570   -

NFZ     AZ Dividend Advantage           .0540   -

NKR     AZ Dividend Advantage 2         .0595   -

NXE     AZ Dividend Advantage 3         .0590   -

NTC     CT Premium Income               .0580   -

NFC     CT Dividend Advantage           .0600   -

NGK     CT Dividend Advantage 2         .0620   -

NGO     CT Dividend Advantage 3         .0560   -

NPG     GA Premium Income               .0550   -

NZX     GA Dividend Advantage           .0610   -

NKG     GA Dividend Advantage 2         .0580   -

NMY     MD Premium Income               .0620   -

NFM     MD Dividend Advantage           .0630   -

NZR     MD Dividend Advantage 2         .0630   -

NWI     MD Dividend Advantage 3         .0620   -

NMT     MA Premium Income               .0640   -

NMB     MA Dividend Advantage           .0630   -

NGX     Insured MA Tax-Free Advantage   .0600   -

NUM     MI Quality Income               .0620   -

NMP     MI Premium Income               .0610   -

NZW     MI Dividend Advantage           .0620   -

NOM     MO Premium Income               .0560   -

NQJ     NJ Investment Quality           .0630   -

NNJ     NJ Premium Income               .0620   -

NXJ     NJ Dividend Advantage           .0610   -

NUJ     NJ Dividend Advantage 2         .0650   -

NNC     NC Premium Income               .0590   -

NRB     NC Dividend Advantage           .0680   -

NNO     NC Dividend Advantage 2         .0640   -

NII     NC Dividend Advantage 3         .0620   -

NUO     OH Quality Income               .0680   -

NXI     OH Dividend Advantage           .0640   -

NBJ     OH Dividend Advantage 2         .0630   -

NVJ     OH Dividend Advantage 3         .0670   -

NQP     PA Investment Quality           .0640   -

NPY     PA Premium Income 2             .0645   -

NXM     PA Dividend Advantage           .0660   -

NVY     PA Dividend Advantage 2         .0690   -

NTX     TX Quality Income               .0670   -

NPV     VA Premium Income               .0650   -

NGB     VA Dividend Advantage           .0640   -

NNB     VA Dividend Advantage 2         .0660   -

                                                       Change From
        Closed-End Funds:                      Amount
                                                       Previous Month

Ticker  Taxable Funds

        Preferred Securities

JTP     Quality Preferred Income Fund          .0480   -

JPS     Quality Preferred Income Fund 2        .0540   -

JHP     Quality Preferred Income Fund 3        .0510   -

        Floating Rate: Corporate Loans

NSL     Senior Income Fund                     .0370   -

JFR     Floating Rate Income Fund              .0450   -

JRO     Floating Rate Income Opportunity Fund  .0550   -

        Floating Rate: Tax Advantaged

JFP     Tax-Advantaged Floating Rate Fund      .0220*  -

* This represents a managed distribution amount. A description of the fund's managed distribution program appears in the text preceding the tables.

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.

    Source: Nuveen Investments

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