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Nuveen Funds Board Approves Leverage Refinancing Plan for Three CEFs

  Nuveen Funds Board Approves Leverage Refinancing Plan for Three CEFs  Funds Intend to Redeem MuniFund Term Preferred Shares  Business Wire  CHICAGO -- February 26, 2014  Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the Board of Trustees of three Nuveen municipal bond closed-end funds has approved a refinancing plan to redeem all of their respective MuniFund Term Preferred (MTP) shares. MTP shares will be redeemed at their $10.00 liquidation value per share plus an additional amount representing any dividend amounts owed. The redemption of MTP shares will be made with the proceeds of newly issued preferred shares, subject to completion of all aspects of their placement, which may not occur as planned.  The funds intending to redeem MTP shares and a description of their outstanding preferred shares are as follows:   Fund                                        Preferred Share     Common Share                                              Description          Symbol Nuveen Georgia Dividend Advantage           NKG PRC; NKG PRD;   NKG Municipal Fund 2                                            NKG PRE              Nuveen Maryland Premium Income Municipal     NMY PRC; NMY PRD;    NMY Fund                                              NMY PRE; NMY PRF;                                            NMY PRG; NMY PRH     Nuveen Pennsylvania Investment Quality      NQP PRC; NQP PRD    NQP Municipal Fund   The funds intend to offer newly issued preferred shares to qualified institutional buyers in private offerings pursuant to Rule 144A of the Securities Act of 1933. Details regarding specific terms and timing of the redemptions will be communicated at a later date through filings with the Securities and Exchange Commission, and accompanied by a public press release at that time.  No preferred shares to be offered have been registered under the Securities Act of 1933 (the Securities Act) or any state securities laws. Unless so registered, no preferred shares may be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities.  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. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. In total, Nuveen Investments managed nearly $215 billion as of September 30, 2013. For more information, please visit the Nuveen Investments website at www.nuveen.com.  FORWARD LOOKING STATEMENTS  Certain statements made in this release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:    *the acceptance by qualified institutional buyers of, and demand for,     preferred shares in amounts sufficient for each fund to refinance its MTP     shares;   *the need to obtain the agreement of all parties to the final terms of the     offerings of preferred shares;   *other legal and regulatory developments; and   *other additional risks and uncertainties.  Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statement.  Contact:  Nuveen Investments Media Contact: Kristyna Munoz, (312) 917-8343 kristyna.munoz@nuveen.com