Bedford Retires From Nuveen.

CHICAGO--(BUSINESS WIRE)--Jan. 4, 1999--The John Nuveen Company today announced the early retirement of Executive Vice President Bruce Bedford as part of a planned transition process at the 100-year-old investment management company.

Bedford, 58, joined Nuveen in January 1997, when Nuveen acquired Flagship Resources, Inc., of Dayton, Ohio, where Bedford was chairman and CEO. Bedford co-founded Flagship in 1983 and helped the specialist manager of open-end municipal bond funds and privately managed accounts grow assets under management to $4.6 billion. Bedford was instrumental in the consolidation of Flagship and Nuveen and was responsible for overseeing their combined $53 billion mutual fund, exchange-traded and defined portfolio businesses.

"Bruce has made a significant contribution to the refocusing of Nuveen's businesses as we begin our second century of helping financial advisers serve investors with a growing range of quality products," said Tim Schwertfeger, Nuveen chairman and CEO. "We will miss Bruce's insights, creativity and extensive experience in the mutual fund business and wish him well as he devotes his considerable energies to a number of personal and business activities."

Founded in 1898 and headquartered in Chicago, Nuveen and its subsidiaries specialize in providing high-quality investment products and services to financial advisers and their clients as well as municipal, institutional and corporate investment banking and asset management services. The John Nuveen Company is listed on The New York Stock Exchange and trades under the symbol JNC.