Two Nuveen Closed-End Funds Issue At-Par Redemption Notices For Auction-Rate Preferred Securities

Nuveen Investments, a leading global provider of investment services to institutions as well as high-net-worth and affluent investors, today announced that the Nuveen California Dividend Advantage Municipal Fund (NYSE: NAC) and the Nuveen Insured California Dividend Advantage Municipal Fund (AMEX: NKL) called for redemption at par all of their outstanding auction-rate preferred securities (ARPS). The funds’ Board of Trustees has approved the redemptions, which total $239.275 million and will be funded by proceeds received from the issuance of Variable Rate Demand Preferred shares (VRDP).

NAC is redeeming all of its $135.525 million of currently outstanding ARPS.

Series		Cusip #		Total Shares Redeemed		Total Amount Redeemed		Redemption Date
TH		67066Y204		2,710		$67,750,000		July 27, 2011
F		67066Y303		2,711		$67,775,000		July 21, 2011

NKL is redeeming all of its $103.75 million of currently outstanding ARPS.

Series		Cusip #		Total Shares Redeemed		Total Amount Redeemed		Redemption Date
T		67071M203		2,075		$51,875,000		July 25, 2011
F		67071M302		2,075		$51,875,000		July 21, 2011

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, high net worth and affluent investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates - NWQ, Nuveen Asset Management, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, Nuveen Investments had $212 billion of assets under management as of April 30, 2011. For more information, please visit the Nuveen Investments website at www.nuveen.com.

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