Nuveen Investments Introduces New Team to Help Serve Needs Of Investors Seeking More Diversified Portfolios.

Dedicated Consulting Group Enhances Nuveen's Leadership in Closed-End Fund Arena

CHICAGO -- Nuveen Investments, a leading provider of diversified investment services to institutional and high net worth investors, today unveiled an innovative new approach to respond to the increased demand for diversified income-generating portfolio solutions. As more and more Baby Boomers near or enter into retirement, a specialized team of experienced Nuveen professionals will provide an important new resource to help financial advisors serve their clients with sophisticated portfolios that provide diversified income and total-return strategies.

Nuveen's new Closed-End Fund and Structured Products Consulting Group will immediately enhance support for the thousands of financial advisors who utilize the firm's growing range of sophisticated closed-end fund strategies. Drawing on distinct disciplines, backgrounds and talents, the new team reflects Nuveen Investments' strong and ongoing commitment to the closed-end fund market place. Closed-end funds are actively managed investments whose limited number of shares are traded through an exchange. Generally, closed-end funds seek to provide regular cash flow to shareholders, using a wide variety of portfolio and asset strategies. Structured products are synthetic investment instruments created to help meet special portfolio needs.

"We are excited about bringing a new level of support and dedicated service to this increasingly important area of investing, " said Michael Forstl, Managing Director, Nuveen Investments, and leader of the new team. "Closed-end funds and structured products can offer sophisticated solutions that address the growing need for regular and diversified sources of income and total return strategies for investors in or near retirement.

"As these products continue to evolve, we look forward to working closely with advisors to ensure they are fully aware of the latest developments and best opportunities to satisfy the long-term investment needs of their clients."

Members of the new team include Michael Forstl, Steve Shelton, Phillip Gaechter and Cody Farmer.

Michael Forstl oversees the Closed-End Fund and Structured Products Consultant Group. Prior to his current position, Forstl served as Managing Director of the Eastern Division of Nuveen Advisor Consultants, overseeing sales and accounts relationship management. During his 25-year career in the industry, he has held positions with Security Pacific Merchant Bank, VanKampen and Dean Witter. He received a BA in Economics from the University of Georgia, and holds the CIMA designation.

Steve Shelton, previously served as a Specialist on Nuveen Investments' Wealth Management team. Previously in his career, Shelton has served as a consultant, accountant, business owner, financial planner and investment advisor to high-net-worth-individual, family offices and institutions. He held positions as Senior Vice President and Director of Kemper Securities Special Products and Services Group and Executive Vice President of EVEREN Securities Financial Investor Services Group. In his new role, Shelton will work with advisors in the Central United States. He received his B.S. and M.S. from the University of Illinois, a MBA from Sul Ross State University (Texas), and he is a Certified Financial Planner [TM] certificant.

Phil Gaechter, joined Nuveen Investments in 2001 as an Advisor Consultant, supporting financial advisors in the Mountain States. In his new role, Gaechter will work with Nuveen's Western Region from his base in Denver. Prior to joining Nuveen Investments, Gaechter was a Regional Vice President at Dreyfus Investments. He holds a bachelor's degree in Finance from Boston College and earned his Certified Investment Management Analyst (CIMA) designation through the Investment Management Consultants Association in conjunction with the Wharton School of the University of Pennsylvania.

Cody Farmer recently joined Nuveen Investments' Closed End Fund and Structured Products Consulting Group and is based in New York to work with advisors in the East coast. Prior to his current position, Farmer served as an Associate Portfolio Manager for Bank of America's Private Bank in New York City. Previously, he served as a senior research consultant for Bank of America's Consulting Services Group, specializing in Small-Cap investment firms across the country. He received an MBA in Finance from Southern Methodist University and earned a BS in mathematics from Texas Tech University. He holds the right to use the Chartered Financial Analyst designation.

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."