Nuveen Investments Announces Executive Stock Transactions.

CHICAGO -- Nuveen Investments, Inc. (NYSE:JNC) today announced that two senior officers intend to exercise expiring stock options and sell a portion of their shares for diversification and other purposes.

Timothy Schwertfeger, the Company's Chairman and CEO, has exercised stock options on 1,035,000 shares of JNC stock which were scheduled to expire in February 2006. He intends to sell 250,000 of these shares in open market transactions to diversify his holdings and to address estate planning needs and charitable activities. Upon completion of these sales, Mr. Schwertfeger will retain a significant ongoing beneficial ownership interest in Nuveen Investments of more than 2.8 million shares and share equivalents.

John Amboian, the Company's President, also intends to sell 355,000 shares of Nuveen Investments in open market transactions through early 2008. Up to 300,000 of these shares may be sold under a pre-arranged trading plan pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. The shares are being sold in conjunction with the exercise of stock options scheduled to expire in February 2006 and in order to diversify his stock holdings. Upon completion of these sales, Mr. Amboian will retain a significant ongoing beneficial interest in Nuveen Investments of more than 1.7 million shares and share equivalents.

The transactions for each executive will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. Rule 10b5-1 permits individuals who are not in possession of material, non-public information at the time they adopt the plan to establish pre-arranged plans to buy or sell company stock. Using these plans, executives can gradually diversify their investment portfolios over an extended period of time.

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, focused on fixed-income investments; Santa Barbara, committed to growth equities; Rittenhouse, dedicated to "blue-chip" growth equities; and Symphony, with expertise in alternative investments as well as equity and income portfolios. With the addition of Santa Barbara in early October, the Company manages approximately $131 billion in assets. Nuveen Investments is listed on The New York Stock Exchange and trades under the symbol "JNC."

Certain statements made by the Company in this release are forward-looking statements. The Company's actual future results may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to, the effects of the substantial competition in the investment management business, including competition for access to brokerage firms' retail distribution systems, the Company's reliance on revenues from investment management contracts which renew annually, regulatory developments, accounting pronouncements, and other additional risks and uncertainties as set forth in the Company's filings with the SEC. The Company undertakes no responsibility to update publicly or revise any forward-looking statements.