Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that the closed-end fund MLP & Strategic Equity Fund (NYSE: MTP) will change from paying distributions on a monthly basis to paying on a quarterly basis. There are no other changes to any of the fund’s investment objectives or strategies. In addition, previously announced distribution dates and amounts for January 2011 will remain unchanged. Shareholders will receive a regular monthly distribution on February 1, 2011 and thereafter receive distributions on a quarterly basis beginning in May 2011. An announcement declaring the first quarterly distribution for this fund payable May 15, 2011 will be made in early February 2011. Subsequent quarterly payments for 2011 will be made in August and October. Announcements for these distributions will be made along with the other Nuveen funds beginning July 1, 2011. As previously announced on October 8, 2010, Nuveen Asset Management (Nuveen) has assumed the role of investment adviser for the fund 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 Asset Management, Santa Barbara, Symphony, Tradewinds, Winslow Capital and Nuveen HydePark. In total, Nuveen Investments managed approximately $195 billion as of December 31, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.