Michael P. McGrath Joins Nuveen Investments' International and Alternative Product Development Group

Business Wire, August 7, 2001

Business Editors

CHICAGO--(BUSINESS WIRE)--Aug. 7, 2001

Nuveen Investments today announced that Michael P. McGrath has joined the firm as a Managing Director in its International and Alternative Investment Products Development Group. McGrath will help to develop all aspects of Nuveen's alternative investments business, with a focus on product analysis and design.

McGrath comes to Nuveen from Gruntal & Co. LLC, where he was a Managing Director in the Financial Products Group. During his eight-year career at Gruntal, he was involved in research, investment banking, product development and marketing for a variety of financial products in the U.S. and Europe. Prior to Gruntal & Co., McGrath worked for PaineWebber Inc. He has an MBA from New York University and received his undergraduate degree from Saint Peters College.

The John Nuveen Company, through Nuveen Investments, provides a distinctive array of industry-leading investment management services designed to build enduring relationships with financial advisors and their high-net-worth clients, as well as a growing number of institutional clients. The Company markets its capabilities under three distinct brands: Nuveen, a leader in tax-free investments; Rittenhouse, the premier retail managed account service platform; and Symphony Asset Management, a foremost institutional money manager of market-neutral and alternative investments. In total, the Company manages or oversees approximately $77 billion in assets. The John Nuveen Company is listed on The New York Stock Exchange and trades under the symbol "JNC."