Three 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 Dividend Advantage Municipal Fund 3 (NZF), Nuveen Insured Dividend Advantage Municipal Fund (NVG) and Nuveen Insured New York Premium Income Municipal Fund (NNF) 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 $310.7 million and will be funded by proceeds received from the issuance of Variable Rate MuniFund Term Preferred Shares (VMTP).

NZF is redeeming all of its $168.4 million of currently outstanding ARPS.
    Total Shares   Total Amount   Redemption
Series   Cusip #   Redeemed   Redeemed   Date
W   67070X200   2,246   $56,150,000   October 4, 2011
TH   67070X309   2,245   $56,125,000   October 5, 2011
F   67070X408   2,245   $56,125,000   September 29, 2011
 

NVG is redeeming all of its $91.95 million of currently outstanding ARPS.
    Total Shares   Total Amount   Redemption
Series   Cusip #   Redeemed   Redeemed   Date
M   67071L205   1,247   $31,175,000   September 30, 2011
T   67071L304   1,217   $30,425,000   October 3, 2011
TH   67071L403   1,214   $30,350,000   October 5, 2011
 

NNF is redeeming all of its $50.35 million of currently outstanding ARPS.
    Total Shares   Total Amount   Redemption
Series   Cusip #   Redeemed   Redeemed   Date
M   67101R206   1,022   $25,550,000   September 30, 2011
T   67101R305   992   $24,800,000   October 3, 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 more than $210 billion of assets under management as of June 30, 2011. For more information, please visit the Nuveen Investments website at www.nuveen.com.

Copyright Business Wire 2010

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