Nuveen Investments, a leading provider of diversified investment services, today announced one hundred and fourteen Nuveen exchange-traded closed-end funds (CEFs) and portfolios have declared regular monthly dividends and distributions. These funds represent a broad range of tax-exempt and taxable equity and fixed-income investment strategies for investors seeking to build diversified long-term investment portfolios.

Monthly dividends from Nuveen's municipal exchange-traded CEFs and portfolios are exempt from regular Federal income taxes, and monthly dividends of single-state municipal funds and portfolios are also exempt from state and, in some cases, local income taxes for in-state residents. Unless otherwise stated in the funds' objectives, monthly dividends of the municipal funds and portfolios may be subject to the Federal Alternative Minimum Tax for some shareholders.

All of these funds seek to pay stable dividends or distributions at rates that reflect each fund's past results and projected future performance. During certain periods, each fund may pay dividends at a rate that may be more or less than the amount of net investment income actually earned by the fund during the period. If a fund cumulatively earned more than it has paid in dividends, it holds the excess in reserve as undistributed net investment income (UNII) as part of the fund's net asset value (NAV). Conversely, if a fund has cumulatively paid dividends in excess of its earnings, the excess constitutes negative UNII that is likewise reflected in the fund's NAV. Each fund will, over time, pay all of its net investment income as dividends to shareholders. The funds' positive or negative UNII balances are disclosed from time to time in their periodic shareholder reports, and are also on www.nuveen.com/cef.

Dividends and distributions from Nuveen's taxable exchange-traded CEFs are generally subject to Federal income taxes. In addition, monthly distributions for the Nuveen Real Estate Income Fund (JRS) may later be characterized as capital gains and/or a return of capital depending on the character of the dividend reported to JRS after year-end by real estate investment trusts (REITs) whose securities are held by the fund.

Additionally, smaller portions of the monthly dividend for the Nuveen Quality Preferred Income Fund (JTP), Nuveen Quality Preferred Income Fund 2 (JPS) and Nuveen Quality Preferred Income Fund 3 (JHP) may later be characterized as capital gains and/or a return of capital because of those funds' modest investments in REITs.

The Nuveen Real Estate Income Fund (JRS), Nuveen Diversified Dividend and Income Fund (JDD), Nuveen Preferred and Convertible Income Fund (JPC), Nuveen Preferred and Convertible Income Fund 2 (JQC) and Nuveen Tax-Advantaged Total Return Strategy Fund (JTA) have adopted a managed distribution policy under which the fund seeks to maintain a stable monthly distribution level, stated in terms of a fixed amount per common share, representing net investment income and net realized capital gains and, if necessary, return of capital. The Nuveen Equity Premium Income Fund (JPZ), Nuveen Equity Premium Opportunity Fund (JSN), Nuveen Equity Premium Advantage Fund (JLA) and Nuveen Equity Premium and Growth Fund (JPG) intend to make regular monthly distributions based on their past and projected performance. JPZ, JSN, JLA and JPG expect that a portion of their distributions will represent "qualified dividend income" taxed at a maximum federal income tax rate of 15%, and the balance will represent a combination of long-term and short-term capital gains, and/or a return of capital, which in most cases represents net unrealized gains. The final determination of the source and tax characteristics of all distributions in 2006 will be made after the end of the year. More details about the estimated composition of the distributions of each of these funds are available on www.nuveen.com/cef.

The following dates apply to today's dividend and distribution declarations: -0- *T Record Date July 15, 2006 Ex-Dividend Date July 12, 2006 Payable Date August 1, 2006 Tax-Free Dividends Per Share ------------------------ Change From Previous Amount Month ------------------------ Ticker Exchange-Traded Closed-End Portfolios ------ ------------------------------------- NXP Select Portfolio $.0570 - NXQ Select Portfolio 2 .0530 - NXR Select Portfolio 3 .0535 - NXC CA Select Portfolio .0530 - NXN NY Select Portfolio .0510 - Exchange-Traded Closed-End Funds: --------------------------------- Non-Leveraged Funds ------------------- NUV Municipal Value .0390 - NCA CA Municipal Value .0385 - NNY NY Municipal Value .0355 - NMI Municipal Income .0420 - NIM Select Maturities .0395 - Leveraged Funds --------------- National -------- NPI Premium Income .0590 - NPP Performance Plus .0670 - NMA Advantage .0715 - NMO Market Opportunity .0660 - NQM Investment Quality .0675 - NQI Insured Quality .0635 - NQS Select Quality .0705 - NQU Quality Income .0665 - NIO Insured Opportunity .0645 - NPF Premier .0545 - NIF Premier Insured .0640 - NPM Premium Income 2 .0605 - NPT Premium Income 4 .0545 - NPX Insured Premium 2 .0540 - NAD Dividend Advantage .0690 - NXZ Dividend Advantage 2 .0795 - NZF Dividend Advantage 3 .0730 - NVG Insured Dividend Advantage .0670 - NEA Insured Tax-Free Advantage .0620 - NMZ High Income Opportunity Fund .0850 - California ---------- NCP Performance Plus .0595 - NCO Market Opportunity .0665 - NQC Investment Quality .0615 - NVC Select Quality .0665 - NUC Quality Income .0650 - NPC Insured Premium Income .0635 - NCL Insured Premium Income 2 .0590 - NCU Premium Income .0595 - NAC Dividend Advantage .0705 - NVX Dividend Advantage 2 .0655 - NZH Dividend Advantage 3 .0655 - NKL Insured Dividend Advantage .0680 - NKX Insured Tax-Free Advantage .0590 - Florida ------- NQF Investment Quality .0580 - NUF Quality Income .0560 - NFL Insured Premium Income .0630 - NWF Insured Tax-Free Advantage .0575 - New York -------- NNP Performance Plus .0695 - NQN Investment Quality .0585 - NVN Select Quality .0595 - NUN Quality Income .0595 - NNF Insured Premium Income .0570 - NAN Dividend Advantage .0695 - NXK Dividend Advantage 2 .0685 - NKO Insured Dividend Advantage .0615 - NRK Insured Tax-Free Advantage .0545 - Other State Funds ----------------- NAZ AZ Premium Income .0510 - NFZ AZ Dividend Advantage .0655 - NKR AZ Dividend Advantage 2 .0645 - NXE AZ Dividend Advantage 3 .0565 - NTC CT Premium Income .0545 - NFC CT Dividend Advantage .0635 - NGK CT Dividend Advantage 2 .0635 - NGO CT Dividend Advantage 3 .0540 - NPG GA Premium Income .0585 - NZX GA Dividend Advantage .0660 - NKG GA Dividend Advantage 2 .0515 - NMY MD Premium Income .0580 - NFM MD Dividend Advantage .0645 - NZR MD Dividend Advantage 2 .0640 - NWI MD Dividend Advantage 3 .0555 - NMT MA Premium Income .0590 - NMB MA Dividend Advantage .0650 - NGX Insured MA Tax-Free Advantage .0510 - NUM MI Quality Income .0620 - NMP MI Premium Income .0605 - NZW MI Dividend Advantage .0675 - NOM MO Premium Income .0630 - NQJ NJ Investment Quality .0575 - NNJ NJ Premium Income .0605 - NXJ NJ Dividend Advantage .0645 - NUJ NJ Dividend Advantage 2 .0660 - NNC NC Premium Income .0575 - NRB NC Dividend Advantage .0665 - NNO NC Dividend Advantage 2 .0615 - NII NC Dividend Advantage 3 .0545 - NUO OH Quality Income .0655 - NXI OH Dividend Advantage .0635 - NBJ OH Dividend Advantage 2 .0620 - NVJ OH Dividend Advantage 3 .0615 - NQP PA Investment Quality .0515 - NPY PA Premium Income 2 .0555 - NXM PA Dividend Advantage .0665 - NVY PA Dividend Advantage 2 .0635 - NTX TX Quality Income .0635 - NPV VA Premium Income .0590 - NGB VA Dividend Advantage .0685 - NNB VA Dividend Advantage 2 .0650 - Taxable Distribution Per Share ------------------------ Change From Previous Exchange-Traded Closed-End Funds: Amount Month --------------------------------- ------------------------ Ticker Taxable Funds ------ ------------- NSL Senior Income Fund $.0535 - JRS Real Estate Income Fund .1650 - JTP Quality Preferred Income Fund .0900 - JPS Quality Preferred Income Fund 2 .0930 - JHP Quality Preferred Income Fund 3 .0910 - JPC Preferred and Convertible Income Fund .0950 - JQC Preferred and Convertible Income Fund 2 .0950 - JDD Diversified Dividend and Income Fund .1100 - JTA Tax-Advantaged Total Return Strategy Fund .1300 - JFR Floating Rate Income Fund .0900 - JRO Floating Rate Income Opportunity Fund .0950 - JPZ Equity Premium Income Fund .1420 - JSN Equity Premium Opportunity Fund .1480 - JFP Tax-Advantaged Floating Rate Fund .0720 - JLA Equity Premium Advantage Fund .1510 - JPG Equity Premium and Growth Fund .1350 - *T

Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutions and high-net-worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its highly specialized investment teams, each with its own brand name and area of expertise: NWQ, specializing in value-style equities; Nuveen, managing fixed-income investments; Santa Barbara, committed to growth equities; Tradewinds NWQ, specializing in global value equities; Rittenhouse, focused on "blue-chip" growth equities; and Symphony, with expertise in alternative investments as well as equity and income portfolios. In total, the Company manages just over $145 billion in assets. Nuveen Investments is listed on The New York Stock Exchange and trades under the symbol "JNC."