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Several Nuveen Municipal Closed-End Funds Declare Distributions


Header of third column in 'Distribution Amount' table should read: 'Short-term Capital Gain' (sted 'Tax-Exempt Income').

The corrected release reads:


Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced distributions for certain Nuveen Connecticut, Georgia and North Carolina state municipal bond closed-end funds. The shareholders of the funds listed below, have approved proxies to reorganize into larger funds. The reorganization is expected to take place after the close of business on Friday, July 6, 2012, effective Monday July 9, 2012, with three funds acquiring the common and preferred assets of the other funds. The goal of this reorganization is to create three, larger state-specific municipal bond funds, with lower operating expenses and increased share trading volume.

Acquired Fund   Symbol   Acquiring Fund   Symbol
-- Nuveen Connecticut Dividend Advantage Municipal Fund   NFC  

Nuveen Connecticut

-- Nuveen Connecticut Dividend Advantage Municipal Fund 2 NGK

Premium Income

-- Nuveen Connecticut Dividend Advantage Municipal Fund 3   NGO  

Municipal Fund

-- Nuveen Georgia Premium Income Municipal Fund NPG

Nuveen Georgia

-- Nuveen Georgia Dividend Advantage Municipal Fund   NZX  

Dividend AdvantageMunicipal 2 Fund

-- Nuveen North Carolina Dividend Advantage Municipal Fund NRB

Nuveen North Carolina

-- Nuveen North Carolina Dividend Advantage Municipal 2 Fund NNO

Premium Income

-- Nuveen North Carolina Dividend Advantage Municipal 3 Fund   NII  

Municipal Fund


Regulations require that the acquired funds fully distribute any accumulated undistributed net investment income (UNII) as well as capital gains prior to effecting a reorganization. Consequently, eight funds (NFC, NGK, NGO, NPG, NZX, NRB, NNO and NII) are declaring distributions which will comply with these regulations, payable August 1, 2012 to fund shareholders of record on July 6, 2012. In addition, the acquiring funds NTC, NKG and NNC are declaring distributions payable August 1, 2012 to shareholders of record on July 6, 2012. Following the merger NTC, NKG and NNC will declare an additional distribution, also payable August 1, 2012. The total dollar amount of the combined pre- and post-merger tax-exempt distributions received on August 1, 2012 will be equal to or greater than the shareholder’s prior monthly tax-exempt dividend.

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