Nuveen Ohio and Arizona Closed-End Funds Declare Distributions

  Nuveen Ohio and Arizona Closed-End Funds Declare Distributions

Business Wire

CHICAGO -- March 26, 2013

Nuveen Investments, a leading global provider of investment services to
institutions as well as individual investors, today announced the
distributions for four Ohio municipal closed-end funds and four Arizona
municipal closed-end funds. The shareholders for each of the funds listed
below approved the reorganizations of the funds into two, larger
state-specific funds. The reorganization is expected to take place after the
close of business on Friday, April 5, 2013, effective Monday, April 8, 2013
with the Nuveen Ohio Quality Income Municipal Fund (NYSE: NUO) and Nuveen
Arizona Premium Income Municipal Fund (NYSE: NAZ) acquiring the common and
preferred assets of their respective state funds. The goal of these
reorganizations is to create larger funds with lower operations expenses and
increased share trading volume.

Record Date        April 5, 2013                   
Ex-Dividend Date     April 3, 2013                      Per Share Distribution
Payable Date         May 1, 2013                        Amount
Reinvest Date        May 1, 2013                        Tax-Exempt

                                                 Income
Acquiring Fund     Nuveen Ohio Quality Income      .0800
                     Municipal Fund (NUO)
                     Nuveen Ohio Dividend
                     Advantage Municipal Fund        .0393
                     (NXI)
                     Nuveen Ohio Dividend
Acquired Funds       Advantage Municipal Fund 2      .1074
                     (NBJ)
                     Nuveen Ohio Dividend
                  Advantage Municipal Fund 3      .0958
                     (NVJ)
                                                        

                                                    
Record Date          April 5, 2013                      
Ex-Dividend Date     April 3, 2013                      Per Share Distribution
Payable Date         May 1, 2013                        Amount
Reinvest Date        May 1, 2013                        Tax-Exempt

                                                   Income
Acquiring Fund     Nuveen Arizona Premium Income     .0640
                     Municipal Fund (NAZ)
                     Nuveen Arizona Dividend           .0738
                     Advantage Municipal Fund (NFZ)
Acquired Funds       Nuveen Arizona Dividend           .0671
                     Advantage Municipal Fund 2 (NKR)
                  Nuveen Arizona Dividend           .0695
                     Advantage Municipal Fund 3 (NXE)
                                                        

Regulations require that the acquired funds fully distribute any accumulated
undistributed net investment income (UNII) prior to effecting the
reorganization. Consequently, six funds (NXI, NBJ, NVJ, NFZ, NKR and NXE) are
declaring distributions which will comply with these regulations, payable May
1, 2013 to fund shareholders of record on April 5, 2013. In addition, the
acquiring funds (NUO and NAZ) are declaring distributions payable May 1, 2013
to fund shareholders of record on April 5, 2013. Following the merger, NUO is
expected to declare an additional distribution, payable May 1, 2013. The total
dollar amount of the combined pre- and post-merger tax-exempt distributions
received on May 1, 2012 will be equal to or greater than the shareholder’s
prior monthly tax-exempt dividend. The distribution information is detailed in
the table above.

Acquired Fund Muni-Term Preferred (MTP) shares will be replaced one for one
with newly issued shares of MTP from the acquiring Funds with substantially
similar terms. Consequently, the MTP series being replaced are declaring final
distributions for the period April 1, 2013 through April 7, 2013, which will
be payable May 1, 2013. The new MTP series of the acquiring fund will declare
a distribution on the effective date of the merger for the period of April 8,
2013 through April 30, 2013 which, when combined with the distributions listed
below will be equal to the shareholders original pre-merger monthly
distribution.

Record Date         April 5, 2013
Ex-Dividend Date       April 3, 2013
Payable Date           May 1, 2013
Reinvest Date          May 1, 2013

                                                         
                                                              Tax-Free
Ticker    MuniFund Term Preferred                         Distribution Per
                                                              Share
NFZ PrC   Nuveen Arizona Dividend Advantage Municipal     .003986
            Fund MTP
NKR PrC   Nuveen Arizona Dividend Advantage Municipal     .003986
            Fund 2 MTP
NXE PrC   Nuveen Arizona Dividend Advantage Municipal     .005639
            Fund 3 MTP
NBJ PrA   Nuveen Ohio Dividend Advantage Municipal Fund   .004569
            2 MTP
NVJ PrA   Nuveen Ohio Dividend Advantage Municipal Fund   .004569
            3 MTP
NXI PrC   Nuveen Ohio Dividend Advantage Municipal Fund   .004569
            MTP
NXI PrD   Nuveen Ohio Dividend Advantage Municipal Fund   .005736
            MTP
                                                              

For more information about UNII, each fund, and the shareholder-approved
reorganization, please visit http://www.nuveen.com/CEF.

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.

Contact:

Nuveen Investments
Media Contact:
Kristyna Munoz, (312) 917-8343
kristyna.munoz@nuveen.com