Four 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 Dividend Advantage Municipal Fund (NYSE: NAD), Nuveen Insured Tax-Free Advantage Municipal Fund (AMEX: NEA), Nuveen Michigan Premium Income Municipal Fund, Inc. (NYSE: NMP) and Nuveen Arizona Premium Income Municipal Fund, Inc. (NYSE: NAZ) 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 $269.025 million and will be funded by proceeds received from the issuance of Variable Rate MuniFund Term Preferred Shares (VMTP).

NAD is redeeming all of its $120.075 million of currently outstanding ARPS.

				Total Shares		Total Amount		Redemption
Series		Cusip #		Redeemed		Redeemed		Date
M		67066V200		1,628		$40,700,000		August 19, 2011
T		67066V309		1,628		$40,700,000		August 22, 2011
TH		67066V408		1,547		$38,675,000		August 24, 2011

NEA is redeeming all of its $67.375 million of currently outstanding ARPS.

				Total Shares		Total Amount		Redemption
Series		Cusip #		Redeemed		Redeemed		Date
T		670657204		1,104		$27,600,000		August 22, 2011
W		670657303		1,105		$27,625,000		August 23, 2011
W2		670657402		486		$12,150,000		August 23, 2011

NAZ is redeeming all of its $27.875 million of currently outstanding ARPS.

				Total Shares		Total Amount		Redemption
Series		Cusip #		Redeemed		Redeemed		Date
TH		67061W203		1,115		$27,875,000		August 24, 2011

NMP is redeeming all of its $53.7 million of currently outstanding ARPS.

				Total Shares		Total Amount		Redemption
Series		Cusip #		Redeemed		Redeemed		Date
M		67101Q307		805		$20,125,000		August 19, 2011
TH		67101Q208		1,343		$33,575,000		August 24, 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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