Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that two closed-end funds, Dow 30 SM Premium & Dividend Income Fund Inc. (NYSE: DPD) and Dow 30 SM Enhanced Premium & Income Fund Inc. (NYSE: DPO), will change from paying distributions on a monthly basis to paying on a quarterly basis.

There are no other changes to any of the funds' investment objectives or strategies. In addition, previously announced distribution dates and amounts for November 2010 will remain unchanged. Shareholders will receive a regular monthly distribution on December 31, 2010 and thereafter receive distributions on a quarterly basis beginning on April 1, 2011. An announcement declaring the first quarterly distribution for these two funds payable April 1, 2011 will be made in early January 2011. Subsequent quarterly distribution announcements for these funds will be made along with all of the Nuveen funds with a managed distribution structure beginning June 1, 2011.

As previously announced on October 8, 2010, Nuveen Asset Management (Nuveen) has assumed the role of investment adviser for the two funds previously managed by IQ Advisors.

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 more than $160 billion as of September 30, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.

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