Nuveen Closed-End Funds Declare Monthly Dividends and Distributions.

CHICAGO -- Nuveen Investments, a leading provider of diversified investment services, today announced 116 Nuveen closed-end funds and portfolios have declared regular monthly dividends and distributions. These funds represent a broad range of tax-exempt and taxable equity and fixed-income investment strategies for investors seeking to build diversified long-term investment portfolios.

Monthly dividends from Nuveen's municipal closed-end funds and portfolios are exempt from regular Federal income taxes, and monthly dividends of single-state municipal funds and portfolios are also exempt from state and, in some cases, local income taxes for in-state residents. Unless otherwise stated in the funds' objectives, monthly dividends of the municipal funds and portfolios may be subject to the Federal Alternative Minimum Tax for some shareholders.

All of these funds seek to pay stable dividends or distributions at rates that reflect each fund's past results and projected future performance. During certain periods, each fund may pay dividends at a rate that may be more or less than the amount of net investment income actually earned by the fund during the period. If a fund cumulatively earned more than it has paid in dividends, it holds the excess in reserve as undistributed net investment income (UNII) as part of the fund's net asset value (NAV). Conversely, if a fund has cumulatively paid dividends in excess of its earnings, the excess constitutes negative UNII that is likewise reflected in the fund's NAV. Each fund will, over time, pay all of its net investment income as dividends to shareholders. The funds' positive or negative UNII balances are disclosed from time to time in their periodic shareholder reports, and are also on www.nuveen.com/etf.

Dividends and distributions from Nuveen's taxable closed-end funds are generally subject to Federal income taxes. In addition, monthly distributions for the Nuveen Real Estate Income Fund (JRS) may later be characterized as capital gains and/or a return of capital depending on the character of the dividend reported to JRS after year-end by real estate investment trusts (REITs) whose securities are held by the fund.

Additionally, smaller portions of the monthly dividend for the Nuveen Quality Preferred Income Fund (JTP), Nuveen Quality Preferred Income Fund 2 (JPS) and Nuveen Quality Preferred Income Fund 3 (JHP) may later be characterized as capital gains and/or a return of capital because of those funds' modest investments in REITs.

The Nuveen Real Estate Income Fund (JRS), Nuveen Diversified Dividend and Income Fund (JDD), Nuveen Preferred and Convertible Income Fund (JPC), Nuveen Preferred and Convertible Income Fund 2 (JQC), Nuveen Tax-Advantaged Total Return Strategy Fund (JTA), Nuveen Global Government Enhanced Income Fund (JGG) and Nuveen Global Value Opportunities Fund (JGV) have adopted a managed distribution policy under which the fund seeks to maintain a stable monthly distribution level, stated in terms of a fixed amount per common share, representing net investment income and net realized capital gains and, if necessary, return of capital. The Nuveen Equity Premium Income Fund (JPZ), Nuveen Equity Premium Opportunity Fund (JSN), Nuveen Equity Premium Advantage Fund (JLA) and Nuveen Equity Premium and Growth Fund (JPG) intend to make regular monthly distributions based on their past and projected performance. JPZ, JSN, JLA and JPG expect that a portion of their distributions will represent "qualified dividend income" taxed at a maximum federal income tax rate of 15%, and the balance will represent a combination of long-term and short-term capital gains, and/or a return of capital, which in most cases represents net unrealized gains. The final determination of the source and tax characteristics of all distributions in 2006 will be made after the end of the year. More details about the estimated composition of the distributions of each of these funds are available on www.nuveen.com/etf

The following dates apply to today's dividend and distribution declarations:

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The following funds have declared additional cash dividends with the same record, ex-dividend and payable dates mentioned above. These additional cash dividends, which are taxable under the Internal Revenue Code, may include long-term capital gains as well as ordinary income arising from gains upon the sale of securities held for one year or less and, pursuant to the Revenue Reconciliation Act of 1993, market discount realized upon the sale of securities.

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(a) This taxable income distribution represents ordinary income arising from market discount realized upon the sale of securities. Taxable Market Discount is the excess of the stated redemption price of the bond at maturity over the basis of such bond immediately after its acquisition. Funds are required to recognize Short-Term Capital Gain and market discount as ordinary taxable income.

Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutions and high-net-worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its highly specialized investment teams, each with its own brand name and area of expertise: NWQ, specializing in value-style equities; Nuveen, managing fixed-income investments; Santa Barbara, committed to growth equities; Tradewinds, specializing in global value equities; Rittenhouse, focused on "blue-chip" growth equities; and Symphony, with expertise in alternative investments as well as equity and income portfolios. In total, the Company manages $154 billion in assets. Nuveen Investments is listed on The New York Stock Exchange and trades under the symbol "JNC."