Nuveen Investments Expands Equity Mutual Fund Offerings.

2 New Strategies to be Managed by Santa Barbara Asset Management

CHICAGO -- Nuveen Investments, a leading provider of diversified investment services, today announced the availability of two new mutual funds featuring the expertise of Santa Barbara Asset Management, one of Nuveen Investments' growth equities investment teams. These new funds are currently available through advisors at leading broker-dealers, banks, insurance companies, financial planning and investment consulting firms.

"We are pleased to bring new institutional-caliber growth equity portfolios to retail mutual fund investors," says Alan Brown, Executive Vice President, Nuveen Investments. "This addition of Santa Barbara's growth investing expertise strengthens our deep commitment to providing investors quality investment strategies to help build well-constructed, long-term portfolios."

The two new funds are:

* Nuveen Santa Barbara Growth Fund (NSAGX), designed to provide long-term capital appreciation through investments in companies that exhibit stable and consistent earnings growth

* Nuveen Santa Barbara Dividend Growth Fund (NSBAX), designed to provide attractive total return comprised of income from dividends and long-term capital appreciation by focusing on mid- to large-capitalization companies that have the potential for high dividend income and dividend growth

Based in Santa Barbara, California, Santa Barbara Asset Management (SBAM) employs bottom-up, fundamental analysis when selecting companies in which to invest. SBAM favors companies that exhibit stable and consistent earnings growth, defendable competitive advantages, strong management, and low dependence on capital markets. SBAM believes that companies exhibiting stable growth characteristics will perform through various business and economic cycles.

An investment in the funds is subject to market risk or the risk that stocks in the portfolio will decline in response to such factors as adverse company news or industry developments or a general economic decline. Investments in foreign stocks present additional risks, including foreign company risk, market risk, currency risk and correlation risk. Furthermore, investing in securities of developing countries involves greater risk than, or in addition to, investing in developed foreign countries. As with any mutual fund, possible loss of principal is a risk of investing.

The Nuveen Investments family of mutual funds offers a variety of investing strategies managed with experience and discipline. Each is designed to contribute to a well constructed diversified portfolio. With more than $18 billion in more than 45 mutual funds, Nuveen Investments offers a growing range of fixed income, growth, value and global portfolios spanning a variety of objectives and investment styles.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the fund carefully before investing. For a prospectus which contains this and other information relevant to an investment in the fund, please contact your securities representative or Nuveen Investments, LLC, 333 W. Wacker Drive, Chicago, IL 60606. Investors should read the prospectus carefully before they invest or send money.

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; Tradewinds, specializing in global value equities; Rittenhouse, dedicated to "blue-chip" growth equities; and Symphony, with expertise in alternative investments as well as equity and income portfolios. The Company manages $154 billion in assets. Nuveen Investments is listed on The New York Stock Exchange and trades under the symbol "JNC."