Nuveen Investments, a leading global provider of investment services to institutions as well as high-net-worth and affluent investors, today announced that the Nuveen Virginia Premium Income Municipal Fund (NYSE: NPV) and Nuveen Maryland Premium Income Municipal Fund (NYSE: NMY) called for redemption at par all of their outstanding auction-rate preferred securities (ARPS). The funds’ Board of Trustees has approved this redemption, which totals $58.525 million and will be funded by proceeds received from the issuance of MuniFund Term Preferred Shares (MTP).

NPV is redeeming all of its $25.55 million of currently outstanding ARPS
                         
    Total Shares   Total Amount   Redemption
Series   Cusip #   Redeemed   Redeemed   Date
T   67064R300   333   $8,325,000   April 4, 2011
TH   67064R201   689   $17,225,000   April 6, 2011
 
 

NMY is redeeming all of its $32.975 million of currently outstanding ARPS
                 
Total Shares Total Amount Redemption
Series   Cusip #   Redeemed   Redeemed   Date
W   67061Q305   585   $14,625,000   April 5, 2011
TH   67061Q206   734   $18,350,000   April 6, 2011
 

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, high-net-worth and affluent investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—NWQ, Nuveen Asset Management, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, Nuveen Investments managed $197 billion as of December 31, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.

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