Nuveen Closed-End Funds Declare Monthly Distributions

Business Wire, Sept 2, 2008

CHICAGO -- Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today declared regular monthly distributions for 106 closed-end funds and portfolios. 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 declared 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.

All of Nuveen's funds 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

Distributions from Nuveen's taxable closed-end funds are generally subject to Federal income taxes. Additionally, smaller portions of the monthly distribution for the Nuveen Quality Preferred Income Fund (JTP), Nuveen Quality Preferred Income Fund 2 (JPS) and Nuveen Quality Preferred Income Fund 3 (JHP) may later be characterized as capital gains and/or a return of capital depending on the character of distributions reported to these funds after year-end by real estate investment trusts (REITs) whose securities are held by the fund.

Beginning with the distribution declared September 2, payable October 1, the Nuveen Tax-Advantaged Floating Rate Fund (JFP) will implement a managed distribution program. Under such a program, each distribution may be composed of one or more of the following components: net investment income, realized capital gains, and/or a return of capital. Estimates of the proportions each source represents will be posted on www.nuveen.com/cef and sent to shareholders with each regular distribution. For more information on this change, please see the August 12, 2008 JFP press release and accompanying Q&A at www.nuveen.com/cef.

The following dates apply to today's distribution declarations:

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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, Rittenhouse, Santa Barbara, Symphony and Tradewinds. In total, the Company managed $152 billion of assets on June 30, 2008. For more information, please visit the Nuveen Investments website at www.nuveen.com.