Nuveen California Premium Income Municipal Fund (AMEX: NCU) today called for redemption at par all of its outstanding auction-rate preferred securities. This redemption will be funded by proceeds received from the issuance of MuniFund Term Preferred Shares (MTP).

NCU is redeeming all of its $34.375 million of currently outstanding ARPS.
Series   Cusip #  

Total Shares Redeemed
 

Total Amount Redeemed
  Redemption Date
M 6706L0201 1,375 $34,375,000 October 15, 2010

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 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 NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds, Winslow Capital and Nuveen HydePark. In total, the Company managed $150 billion as of June 30, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.

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