Nuveen Closed-End Funds Declare Quarterly Distributions

Business Wire, June 2, 2008

CHICAGO -- Nuveen Investments, a leading provider of diversified investment services, today declared regular quarterly distributions for 14 Nuveen closed-end funds. These funds represent a broad range of investment strategies for investors seeking to build sophisticated and diversified long-term investment portfolios to deliver cash flow.

Distributions from Nuveen's taxable closed-end funds are generally subject to Federal income taxes. 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. Funds that may be affected by such re-characterization include the Nuveen Real Estate Income Fund (JRS), the Nuveen Diversified Dividend and Income Fund (JDD), and the Nuveen Global Value Opportunities Fund (JGV).

Each of these fourteen funds has adopted a managed distribution program. The goal of a fund's managed distribution program is to provide shareholders relatively consistent and predictable cash flow by systematically converting its expected long-term return potential into regular distributions. As a result, regular distributions throughout the year will likely include a portion of expected long-term gains (both realized and unrealized), along with net investment income.

Important points to understand about Nuveen fund managed distributions are:

* Each Nuveen fund seeks to establish a relatively stable distribution rate that roughly corresponds to the projected total return from its investment strategy over an extended period of time. However, you should not draw any conclusions about a fund's past or future investment performance from its current distribution rate.

* Actual returns will differ from projected long-term returns (and therefore a fund's distribution rate), at least over shorter time periods. Over a specific timeframe, the difference between actual returns and total distributions will be reflected in an increasing (returns exceed distributions) or a decreasing (distributions exceed returns) fund net asset value.

* Each quarter's distributions are expected to be paid from some or all of the following sources:

[TABLE OMITTED]

* A non-taxable distribution is a payment of a portion of the fund's capital. When fund returns exceed distributions, it may represent portfolio gains earned, but not realized as a taxable capital gain. In periods when fund returns fall short of distributions, it will represent a portion of your original principal unless the shortfall is offset during other time periods over the life of your investment (previous or subsequent) when the fund's total return exceeds distributions.

* Because distribution source estimates are updated quarterly based on a fund's performance and forecast for its current fiscal year (which is the calendar year for all the funds listed below), these estimates may differ from both the tax information reported to you in your fund's 1099 statement, as well as the ultimate economic sources of distributions over the life of your investment.

Information regarding each fund's distributions and total return performance over various time periods will be sent to shareholders with their distributions, and posted on www.nuveen.com/cef .

Additionally, estimates of each fund's distribution sources, reflecting year-to-date cumulative experience will also be mailed to shareholders and shown on www.nuveen.com/cef. These estimates are for informational purposes only. The estimates are calculated on a tax basis rather than on a generally accepted accounting principles (GAAP) basis, but should not be used for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon each fund's investment experience during the remainder of its fiscal year. The final determination of the source and tax characteristics of all distributions will be made in early 2009 and reported to shareholders on Form 1099-DIV at that time.

The following dates apply to today's distribution declarations:

Record Date       <
June 15, 2008








Ex-Dividend Date  <
June 11, 2008








Payable Date      <
July 1, 2008
[TABLE OMITTED]

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 NWQ, Santa Barbara, Tradewinds, Rittenhouse, Symphony and Nuveen, including the Nuveen HydePark Group. In total, the Company managed $153 billion in assets as of March 31, 2008. For more information, please visit the Nuveen Investments website at www.nuveen.com.