Nuveen Multi-Strategy Income And Growth Fund 2 Provides Update On Portfolio Repositioning

The Nuveen Multi-Strategy Income and Growth Fund 2 (NYSE: JQC) today announced that implementation of the fund’s previously announced portfolio repositioning will begin January 23, 2012. Fund shareholders approved certain changes needed to implement the portfolio repositioning at a special shareholder meeting held on November 18, 2011. An overview of the repositioning is available by clicking here. The fund will notify shareholders once the portfolio repositioning has been completed.

JQC currently features a mix of debt and equity investment strategies. After the completion of its portfolio repositioning, the fund will focus on a single, broad-based credit strategy with an emphasis on senior loans. Symphony Asset Management, LLC (Symphony), an affiliate of Nuveen Investments and an existing fund sub-adviser, will assume sole portfolio management responsibility for managing JQC’s investment portfolio. As a result, Sutanto Widjaja of Symphony has been appointed as a portfolio manager to the existing portfolio management team. Gunther Stein, Chief Executive Officer and Chief Investment Officer of Symphony, will remain as a portfolio manager of the fund.

Mr. Widjaja is a member of Symphony’s fixed-income team and his responsibilities include portfolio management for Nuveen Credit Strategies Income Fund and other related strategies. Prior to joining Symphony in 2003, Mr. Widjaja was Manager of Finance at WineShopper.com, an Analyst in investment banking at Robertson, Stephens & Company, and an Analyst at Accenture. He formerly served on the board of the San Francisco Public Health Foundation. Mr. Widjaja received an MBA from the Stanford Graduate School of Business and a BS in electrical engineering and computer science from the University of California, Berkeley.

JQC’s investment objectives are not changing as a result of the fund’s portfolio repositioning. However, there is a fundamental policy change regarding industry concentration to eliminate the requirement to concentrate in the financial services industry. In addition, in order to enable the fund to implement its new investment mandate, the fund’s Board of Trustees approved changes to certain non-fundamental investment policies. A list of these changes may be found by clicking here.

Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and individual 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 - Nuveen Asset Management, NWQ, Santa Barbara, Symphony, Tradewinds, Winslow Capital and Gresham Investment Management. In total, Nuveen Investments had more than $207 billion of assets under management as of October 31, 2011. For more information, please visit the Nuveen Investments website at www.nuveen.com.

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