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NUVEEN EXCHANGE-TRADED FUNDS DECLARE TAX-FREE DIVIDENDS

 NUVEEN EXCHANGE-TRADED FUNDS DECLARE TAX-FREE DIVIDENDS
 CHICAGO, Dec. 2 /PRNewswire/ -- Nuveen exchange-traded funds today declared federally tax-free dividends, as follows:
 STOCK FUND DIVIDEND PREVIOUS
 SYMBOL PER SHARE MONTHLY
 DIVIDEND
 NUV Nuveen Municipal Value Fund, Inc. $.0595 $.0595
 NCA Nuveen California Municipal Value Fund, Inc. .0550 .0550
 NNY Nuveen New York Municipal Value Fund, Inc. .0563 .0563
 NMI Nuveen Municipal Income Fund, Inc. .0710 .0710
 NCM Nuveen California Municipal Income Fund, Inc. .0655 .0655
 NNM Nuveen New York Municipal Income Fund, Inc. .0655 .0655
 NPI Nuveen Premium Income Municipal Fund, Inc. .0950 .0950
 NPP Nuveen Performance Plus Municipal Fund, Inc. .0870 .0870
 NCP Nuveen Cal. Performance Plus Municipal
 Fund, Inc. .0850 .0850
 NNP Nuveen N.Y. Performance Plus Municipal
 Fund, Inc. .0885 .0885
 NMA Nuveen Municipal Advantage Fund, Inc. .0925 .0925
 NMO Nuveen Municipal Market Opportunity Fund, Inc. .0940 .0940
 NCO Nuveen Cal. Municipal Market Opportunity
 Fund, Inc. .0850 .0850
 NNO Nuveen N.Y. Municipal Market Opportunity
 Fund, Inc. .0900 .0900
 NQM Nuveen Investment Quality Municipal Fund, Inc. .0950 .0950
 NQC Nuveen Cal. Investment Quality Municipal
 Fund, Inc. .0840 .0840
 NQN Nuveen N.Y. Investment Quality Municipal
 Fund, Inc. .0865 .0865
 NQI Nuveen Insured Quality Municipal Fund, Inc. .0870 .0870
 NQF Nuveen Fla. Investment Quality Municipal
 Fund, Inc. .0825 .0825
 NQP Nuveen Penn. Investment Quality Municipal Fund .0830 .0830
 NQJ Nuveen NJ Investment Quality Municipal
 Fund, Inc. .0775 .0775
 NQS Nuveen Select Quality Municipal Fund, Inc. .0850 .0850
 NVC Nuveen Cal. Select Quality Municipal
 Fund, Inc. .0810 .0810
 NVN Nuveen N.Y. Select Quality Municipal
 Fund, Inc. .0795 .0795
 NQU Nuveen Quality Income Municipal Fund, Inc. .0840 .0840
 NIO Nuveen Insured Municipal Opportunity
 Fund, Inc. .0785 (First
 Dividend)
 The following funds also declared additional dividends, which are taxable and represent distributions of net capital gains realized from the sale of portfolio securities:
 STOCK SYMBOL AND FUND AMOUNT OF CAPITAL GAINS PER SHARE
 TOTAL LONG-TERM SHORT-TERM
 NUV Nuveen Municipal Value Fund, Inc. $.0525 $.0499 $.0026
 NCA Nuveen Cal. Muni. Value Fund, Inc. .0233 .0233
 NNY Nuveen N.Y. Muni. Value Fund, Inc. .1267 .1267
 NMI Nuveen Municipal Income Fund Inc. .0548 .0548
 NCM Nuveen Cal. Muni. Income Fund, Inc. .0958 .0958
 NNM Nuveen N.Y. Muni. Income Fund, Inc. .0713 .0373 .0340
 NMA Nuveen Municipal Advantage
 Fund, Inc. .0178 .0178
 NMO Nuveen Muni Mkt. Oppor. Fund, Inc. .0135 .0022 .0113
 NNO Nuveen N.Y. Muni. Mkt. Opp.
 Fund, Inc. .0115 .0058 .0057
 NQN Nuveen N.Y. Inv. Qual. Muni.
 Fund, Inc. .0194 .0194
 NQI Nuveen Insured Qual. Muni.
 Fund, Inc. .0272 .0272
 All the dividends and distributions declared today are payable Dec. 31 to shareholders of record Dec. 15. The ex-dividend date for all funds is Dec. 9. These funds are all exchange-traded municipal bond funds paying monthly dividends that are exempt from federal income taxes. In addition, dividends paid by the California, New York, New Jersey and Pennsylvania funds are also exempt from state income taxes for residents of those states. Earnings of the funds may include income from private activity bonds, which may be subject to the federal alternative minimum tax for some individuals. Capital gains, if any, are subject to capital gains taxes.
 All of the funds are listed on the New York Stock Exchange, except for the Nuveen New York Municipal Income Fund, which is listed on the American Stock Exchange.
 Nuveen exchange-traded funds are managed by Nuveen Advisory Corp., a wholly owned subsidiary of John Nuveen & Co. Incorporated, which has sponsored more than $50 billion of tax-free trusts and funds. Founded in 1898 and headquartered in Chicago, Nuveen is the nation's oldest and largest investment banking firm specializing in municipal securities.
 -0- 12/2/91
 /CONTACT: Jeff Kratz of Nuveen, 312-917-7749/ CO: Nuveen ST: Illinois IN: FIN SU: DIV


JT -- NY074 -- 8504 12/02/91 16:48 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Dec 2, 1991
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