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NUVEEN REPORTS RECORD REVENUES, EARNINGS AT FIRST ANNUAL MEETING

 CHICAGO, May 19 /PRNewswire/ -- Reports on record revenues and earnings in 1992 highlighted The John Nuveen Company's (NYSE: JNC) first annual shareholders' meeting, held today in Chicago.
 Chairman Richard J. Franke and President Donald E. Sveen both discussed the firm's strong financial performance during its first year of public ownership. "The company performed well in all of its business lines -- from municipal finance to packaged products sales," noted Chairman Richard Franke. President Donald Sveen told the company's investors that "The John Nuveen Company has reported record revenues and earnings for the second year in a row."
 The firm's record 1992 revenues of $221 million represented a 23 percent increase over the prior year. Net income was $63 million, or $1.66 per share, a 31 percent increase over the previous record of $47.9 million, or $1.31 per share, set in 1991. The company's 1992 after-tax return on equity was 34 percent -- one of the best returns in the financial services industry.
 Net sales of Nuveen long-term tax-free products reached $7.2 billion in 1992. At year's end, the company had $27.3 billion of net assets under management and nearly $23 billion of unit investment trusts under surveillance.
 After hearing the reports on the firm's financial performance, shareholders elected a full slate of 10 directors. In addition to Franke and Sveen, the following directors were elected:
 -- Anthony T. Dean, executive vice president of The John Nuveen Company
 -- Timothy R. Schwertfeger, executive vice president of The John Nuveen Company
 -- Duane R. Kullberg, retired CEO and managing partner of Arthur Andersen & Co.
 -- Willard L. Boyd, president of the Field Museum of Natural History
 -- Douglas W. Leatherdale, president and CEO of The St. Paul Companies
 -- Patrick A. Thiele, executive vice president and CFO of The St. Paul Companies
 -- Thomas W. McKeown, executive vice president of The St. Paul Companies
 -- W. John Driscoll, chairman and president of Rock Island Company
 The company's shareholders also ratified the retention of KPMG Peat Marwick as independent auditors for the company.
 Founded in 1898 ana?dquartered in Chicago, Nuveen is the nation's oldest and largest investment banking firm specializing in the sponsorship, marketing and management of tax-free investments for individual investors, and in the underwriting and distribution of municipal securities. Since 1961, in excess of $60 billion of Nuveen tax-free trusts and funds have been distributed by financial advisers to more than 1,000,000 investors nationwide. The company's stock is listed on the New York Stock Exchange and trades under the symbol JNC.
 -0- 5/19/93
 /CONTACT: Jeff Kratz, 312-917-7749 or Ed Dunn, 312-917-7763, both of Nuveen/
 (JNC)


CO: John Nuveen Company ST: Illinois IN: FIN SU: ERN

WB -- NY058 -- 3112 05/19/93 12:41 EDT
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Publication:PR Newswire
Date:May 19, 1993
Words:453
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