Nuveen Closed-End Funds Declare Monthly Dividends and Distributions.

Nuveen Quality Preferred Income Fund 2 Declares Long-Term Capital Gain 

CHICAGO -- Nuveen Investments, a leading provider of diversified investment services, today announced 105 Nuveen closed-end funds and portfolios have declared regular monthly dividends and distributions. These funds represent a broad range of tax-exempt and taxable fixed and floating rate income investment strategies for investors seeking to build sophisticated and diversified long-term investment portfolios for cash flow.

The funds' distributions are declared below and are payable May 1, 2007 to shareholders of record as of April 15, 2007.

Nuveen recently announced 11 taxable closed-end funds will move to a quarterly distribution schedule. This move reflects an effort to reduce the administrative costs to shareholders associated with these funds, resulting from regulations requiring the Fund to provide shareholders with a written statement of distribution source estimates and other information mailed with each distribution payment. The funds moving to a quarterly distribution include:

Nuveen Real Estate Income Fund (JRS)







Nuveen Preferred and Convertible Income Fund (JPC)







Nuveen Preferred and Convertible Income Fund 2 (JQC)







Nuveen Diversified Dividend and Income Fund (JDD)







Nuveen Tax-Advantaged Total Return Strategy Fund (JTA)







Nuveen Equity Premium Income Fund (JPZ)







Nuveen Equity Premium Opportunity Fund (JSN)







Nuveen Equity Premium Advantage Fund (JLA)







Nuveen Equity Premium and Growth Fund (JPG)







Nuveen Global Government Enhanced Income Fund (JGG)







Nuveen Global Value Opportunities Fund (JGV)

For more complete information on the affected funds' new distribution schedule visit www.nuveen.com/cef

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 Nuveen's 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/cef

Dividends and distributions from Nuveen's taxable closed-end funds are generally subject to Federal income taxes. 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 depending on the character of dividends reported to these funds after year-end by real estate investment trusts (REITs) whose securities are held by the fund.

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

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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 $162 billion in assets. Nuveen Investments is listed on The New York Stock Exchange and trades under the symbol "JNC."