Several Nuveen Closed-End Funds Announce Updated Portfolio Manager Teams

Nuveen Investments, a leading global provider of investment services to institutions as well as high-net-worth and affluent investors, today announced changes to the portfolio management responsibilities for several Nuveen closed-end funds. Each fund’s investment objectives and investment strategies remain unchanged.

Following below is a complete list of the closed-end funds that are announcing a change in their portfolio management as well biographies for the funds’ portfolio managers.

Steve Lee, CFA

Steve leads the Foreign Currency Sector Team of Nuveen Asset Management and has been active in Global Macro strategies and FX trading since 1995. Most recently, he was a Senior Vice President and FX Trader with HSBC Bank USA. He began his career with Deutsche Bank on their Forward Currency desk and also worked as a portfolio manager at Vega Asset Management and Tribeca Global Investments in New York. He obtained his Bachelor of Arts, Economics and Mathematics from Yale University and his MBA in Finance from New York University, Stern School of Business. He holds the Chartered Financial Analyst (CFA) designation.

Timothy A. Palmer, CFA

Tim leads the non-dollar and emerging markets debt sector teams of Nuveen Asset Management and is responsible for the Core Plus product. Tim began working in the financial industry in 1986, and became a portfolio manager in 1990. Before joining FAF Advisors in 2003, he was a senior fixed-income portfolio manager with American Express Financial Advisors (now Ameriprise Financial). Prior to that, Tim served as CEO and managing principal of Atlas Capital Management, and he was a senior fixed-income portfolio manager for Investment Advisors, Inc. Tim earned a B.A. in economics from the University of St. Thomas and an M.B.A. in finance from Columbia University’s Graduate School of Business. He holds the Chartered Financial Analyst (CFA) designation.

Scott R. Romans, PH.D.

Scott is a portfolio manager for several closed- and open-ended municipal bond funds covering California and other western states for Nuveen Asset Management. He joined Nuveen in 2000 as a senior analyst in the education sector and moved to portfolio management in 2003. Scott earned his undergraduate degree from the University of Pennsylvania, an M.S.F. from the Illinois Institute of Technology Stuart School of Business, and an M.A. and Ph.D. from the University of Chicago.

Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions, high-net-worth and affluent investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—NWQ, Nuveen Asset Management, Santa Barbara, Symphony, Tradewinds, Winslow Capital and Nuveen HydePark. In total, Nuveen Investments managed $197 billion as of December 31, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.