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Nuveen Closed-End Funds’ Board Approves Fund Mergers

Nuveen Investments, a leading global provider of investment services to institutions as well as high-net-worth and affluent investors, today announced the Board of Trustees of Nuveen’s closed-end funds approved a series of mergers of single-state Nuveen municipal closed-end funds. The mergers are subject to customary conditions, including shareholder approval at the funds’ regular shareholder meeting later this year. The mergers in each of the two respective states are intended to create a single, larger state fund with lower operating expenses as well as the potential for enhanced secondary market trading.

More information on the proposed mergers will be contained in the proxy materials expected to be filed in the coming weeks. The proposed fund mergers are:
Acquired Fund     Symbol     Acquiring Fund     Symbol
  • Nuveen Maryland Dividend Advantage Municipal Fund
  • Nuveen Maryland Dividend Advantage Municipal Fund 2
  • Nuveen Maryland Dividend Advantage Municipal Fund 3
   

NFM

NZR

NWI
   

Nuveen Maryland Premium Income Municipal Fund
    NMY
  • Nuveen Virginia Dividend Advantage Municipal Fund
  • Nuveen Virginia Dividend Advantage Municipal Fund 2
   

NGB

NNB
   

Nuveen Virginia Premium Income Municipal Fund
    NPV

More information on these and other Nuveen closed-end funds is posted on Nuveen’s web site at www.nuveen.com/cef.

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 more than $210 billion of assets under management as of June 30, 2011. For more information, please visit the Nuveen Investments website at www.nuveen.com.

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