Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced the Boards of several Nuveen California municipal closed-end funds approved a series of mergers. The mergers are subject to customary conditions, including shareholder approval at annual shareholder meetings in early 2014. The mergers are intended to create two larger funds with lower operating expenses and increased trading volume on the exchange for common shares. More information on the proposed mergers will be contained in the proxy materials expected to be filed in the coming weeks. The proposed fund mergers are as follows:
|Acquired Fund||Symbol||Acquiring Fund||Symbol|
| ||NCPNCONQCNUCNVC||Nuveen California DividendAdvantage Municipal Fund||NAC|
|Nuveen California PremiumIncome Municipal Fund||NCU||Nuveen California AMT-FreeMunicipal Income Fund||NKX|
Certain statements made in this release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:o market developments; o legal and regulatory developments; and o other additional risks and uncertainties. Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements. The Annual and Semi-Annual Reports and other regulatory filings of the Nuveen closed-end funds with the Securities and Exchange Commission ("SEC") are accessible on the SEC's web site at www.sec.gov and on Nuveen`s web site at www.nuveen.com and may discuss the above-mentioned or other factors that affect the Nuveen closed-end funds. The information contained on our web site is not a part of this press release. Nothing contained in this press release shall constitute an offer for sale of any securities. A joint Proxy Statement/Prospectus relating to each proposed reorganization will be filed with the SEC in the coming weeks and will contain important information relating the reorganization. Shareholders are urged to read each such joint Proxy Statement/Prospectus carefully. After they are filed, free copies of the Proxy Statement/Prospectuses will be available on the SEC's web site at www.sec.gov.