Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that five closed-end funds have each filed initial registration statements to establish equity shelf programs. The programs are designed to provide the funds’ portfolio managers with additional flexibility in pursuing attractive investment opportunities they believe may enhance long-term shareholder returns. Under the equity shelf programs, the funds, subject to market conditions, may raise additional equity capital, by issuing additional common shares, from time to time in varying amounts and offering methods at a net price at or above each fund’s net asset value per common share plus the per share amount of any commission. The funds which have filed the initial registration statements are listed below:

Each fund has filed a registration statement with the Securities and Exchange Commission relating to its proposed shelf offering. The information in the preliminary prospectus contained in each registration statement is not complete and may be changed. New shares of each fund will not be sold until its registration statement is effective. The preliminary prospectus is not an offer to sell newly registered shares and is not soliciting an offer to buy newly registered shares in any jurisdiction where the offer or sale is not permitted.

Investors should consider each fund’s investment objectives, risks, charges and expenses carefully before investing and may obtain full fund information by visiting Nuveen’s web site at www.nuveen.com/cef or by contacting Nuveen Investments at 1-800-257-8787.

Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual 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—Nuveen Asset Management, LLC, Symphony Asset Management LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital Management, LLC and Gresham Investment Management LLC all of which are registered investment advisers and subsidiaries of Nuveen Investments, Inc. In total, Nuveen Investments managed approximately $219 billion as of December 31, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.