Two Nuveen Closed-End Funds Issue At-Par Redemption Notices For Auction-Rate Preferred Securities

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 California Dividend Advantage Municipal Fund (NYSE: NAC) and the Nuveen Insured California Dividend Advantage Municipal Fund (AMEX: NKL) called for redemption at par all of their outstanding auction-rate preferred securities (ARPS). The funds’ Board of Trustees has approved the redemptions, which total $239.275 million and will be funded by proceeds received from the issuance of Variable Rate Demand Preferred shares (VRDP).

NAC is redeeming all of its $135.525 million of currently outstanding ARPS.
Series   Cusip #  

Total SharesRedeemed
 

Total AmountRedeemed
  RedemptionDate
TH   67066Y204   2,710   $67,750,000   July 27, 2011
F   67066Y303   2,711   $67,775,000   July 21, 2011
       

NKL is redeeming all of its $103.75 million of currently outstanding ARPS.
Series   Cusip #  

Total SharesRedeemed
 

Total AmountRedeemed
  RedemptionDate
T   67071M203   2,075   $51,875,000   July 25, 2011
F   67071M302   2,075   $51,875,000   July 21, 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 had $212 billion of assets under management as of April 30, 2011. For more information, please visit the Nuveen Investments website at www.nuveen.com.

Copyright Business Wire 2010

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