Reissuing release dated May 3, 2010 to add Nuveen Insured Massachusetts Tax-Free Advantage Municipal Fund ( NGX) to list of affected funds.

The corrected release reads:

NUVEEN ANNOUNCES INVESTMENT POLICY CHANGES FOR SEVERAL INSURED MUNICIPAL CLOSED-END FUNDS

Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that the Board of 17 insured municipal bond closed-end funds has approved changes to each such fund’s investment policies. The Board of each fund took this action in response to the continuing challenges faced by municipal bond insurers. The changes to each fund’s investment policies are intended to increase the fund’s investment flexibility in pursuing its investment objective, while retaining the insured nature of its portfolio.

The changes provide that:
  • At least 80 percent of the managed assets of each fund will be invested in municipal securities that, at time of purchase, are covered by insurance guaranteeing the timely payment of principal and interest thereon; and
  • the municipal securities in which each fund invests will be investment grade at the time of purchase (including (i) bonds insured by investment grade insurers or rated investment grade; (ii) unrated bonds that are judged to be investment grade by Nuveen Asset Management; and (iii) escrowed bonds).

These changes are effective immediately. The affected funds are:

Nuveen Insured Tax-Free Advantage Municipal Fund ( NEA)

Nuveen Premier Insured Municipal Income Fund, Inc. ( NIF)

Nuveen Insured Municipal Opportunity Fund, Inc. ( NIO)

Nuveen Insured Premium Income Municipal Fund 2 ( NPX)

Nuveen Insured Quality Municipal Fund, Inc. ( NQI)

Nuveen Insured Dividend Advantage Municipal Fund ( NVG)

Nuveen Insured California Premium Income Municipal Fund 2, Inc. ( NCL)

Nuveen Insured California Premium Income Municipal Fund, Inc. ( NPC)

Nuveen Insured California Dividend Advantage Municipal Fund ( NKL)

Nuveen Insured California Tax-Free Advantage Municipal Fund ( NKX)

Nuveen Insure New York Dividend Advantage Municipal Fund ( NKO)

Nuveen Insured New York Premium Income Municipal Fund, Inc. ( NNF)

Nuveen New York Investment Quality Municipal Fund, Inc. ( NQN)

Nuveen Insured New York T ax-Free Advantage Municipal Fund ( NRK)

Nuveen New York Quality Income Municipal Fund, Inc. ( NUN)

Nuveen New York Select Quality Municipal Fund, Inc. ( NVN)

Nuveen Insured Massachusetts Tax-Free Advantage Municipal Fund ( NGX)
 

For more information on these policies and other Nuveen closed-end funds, please visit www.nuveen.com/cef

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, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, the Company managed nearly $145 billion as of December 31, 2009. For more information, please visit the Nuveen Investments website at www.nuveen.com.

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