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NUVEEN CALIFORNIA PREMIUM INCOME MUNICIPAL FUND 2 IPO TRADES ON THE AMERICAN STOCK EXCHANGE

 NEW YORK, Sept. 17 /PRNewswire/ -- The American Stock Exchange today began trading the initial public offering of the common shares of Nuveen California Premium Income Municipal Fund 2. The fund, trading under ticker symbol "NCV," opened at 15 on 2,500 shares.
 The fund selected Weiskopf, Silver & Co. and Oscar Gruss & Son as its specialist unit.
 Nuveen California Premium Income Municipal Fund 2 is a newly organized, closed-end, diversified management investment company. The fund's investment objective is to provide current income exempt from both regular federal income tax and California personal income tax, consistent with the preservation of capital. The fund will seek to achieve its investment objective by investing substantially all of its assets in tax-exempt California Municipal Obligations.
 The fund's initial public offering consists of two million common shares with an over-allotment option of 250,000 shares. The fund's investment advisor is Chicago-based Nuveen Advisory Corporation.
 The American Stock Exchange owns a unique niche among U.S. financial markets. It is the only exchange to successfully provide both a primary equities market for growth companies and a principal market for derivative products. The American Stock Exchange is dedicated to providing both public and professional investors with superior trading products and services at competitive prices.
 -0- 9/17/93
 /CONTACT: Bob Shabazian, managing director of the American Stock Exchange, 212-306-1630/
 (NCV)


CO: Nuveen California Premium Income Municipal Fund 2 ST: IN: FIN SU:

CK -- NY0260 -- 3096 09/17/93 12:27 EDT
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Publication:PR Newswire
Date:Sep 17, 1993
Words:243
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