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FIVE NEW NUVEEN FUNDS LIST ON THE AMERICAN STOCK EXCHANGE

 NEW YORK, June 18 /PRNewswire/ -- The American Stock Exchange today announced that it has commenced trading the common shares of Nuveen California Premium Income Municipal Fund ("NCU"), Nuveen Florida Premium Income Municipal Fund ("NFO"), Nuveen New Jersey Premium Income Municipal Fund 3 ("NJU"), Nuveen New York Premium Municipal Income Fund ("NRY") and Nuveen Pennsylvania Premium Income Municipal Fund 3 ("NAP"). Trading for each fund opened at 11:30 a.m. at $15. Kalb Voorhis & Co. was selected as the specialist firm for NCU, NJU and NRY. Crooks, Oscher & Company, Inc. was selected as the specialist firm for NFO and NAP.
 Nuveen California Premium Income Municipal Fund, Nuveen Florida Premium Income Municipal Fund, Nuveen New Jersey Premium Income Municipal Fund 3, Nuveen New York Premium Municipal Income Fund and Nuveen Pennsylvania Premium Income Municipal Fund 3 are newly organized, closed-end, diversified management investment companies.
 The Funds' primary investment objective is to provide current income exempt from both regular Federal income taxes and applicable state personal income taxes. The Funds' secondary investment objective is the enhancement of portfolio value relative to the applicable state's municipal bond market through investments in tax exempt state Municipal Obligations that, in the opinion of the Funds' investment adviser, are underrated or undervalued or that represent municipal market sectors that are undervalued. Each fund will invest substantially all of its assets in a diversified portfolio of applicable California, Florida, New Jersey, New York or Pennsylvania tax exempt securities rated within the four highest grades, and up to 20% of the Funds' assets may be invested in unrated applicable state Municipal Obligations deemed to be equivalent to investment grade in credit quality.
 NCU's initial public offering consists of 3,250,000 shares of common stock with an over-allotment option of 325,000 shares; NFO's initial public offering consists of 2,400,000 shares of common stock with an over-allotment option of 240,000 shares; NJU's initial public offering consists of 1,900,000 common shares with an over-allotment option of 190,000 shares; NRY's initial public offering consists of 1,800,000 shares of common stock with an over-allotment option of 180,000 shares; and NAP's initial public offering consists of 2,550,000 shares of common stock with an over-allotment option of 255,000 shares. Prudential Securities Incorporated is the lead underwriter of these offerings.
 The American Stock Exchange occupies a unique niche among U.S. financial markets. It is the only exchange to successfully provide both a primary equities market for growth companies, as well as a principal market to trade derivatives. No other exchange has balanced traditional and cutting edge trading products. And because of the efficiencies associated with the AMEX auction marketplace, investors of all sizes achieve the greatest value and protection.
 -0- 6/18/93
 /CONTACT: Melissa Grand, manager-equities communications of The American Stock Exchange, 212-306-1635/


CO: Nuveen ST: IN: FIN SU:

TS -- NY040 -- 3573 06/18/93 12:34 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
Words:488
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