Newly Merged Nuveen Closed-End Funds Declare Post-Merger Distributions

  Newly Merged Nuveen Closed-End Funds Declare Post-Merger Distributions  Declaration Ensures Shareholders Receive Full Tax-Exempt Distribution Amount  Business Wire  CHICAGO -- June 9, 2014  Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the Nuveen California Dividend Advantage Municipal Fund (NAC), Nuveen California AMT-Free Municipal Income Fund (NKX) and Nuveen Massachusetts Premium Income Municipal Fund (NMT) have declared additional, post-merger distributions. These distributions follow the recently announced mergers, which were successfully completed before the market open on June 9, 2014.  NAC and NMT today declared additional distributions on their common shares. The following dates apply to today’s NAC and NMT common share distributions:  Record Date       June 19, 2014 Ex-Dividend Date   June 17, 2014 Payable Date       August 1, 2014 Reinvest Date      August 1, 2014      Distribution Per Share                                         Tax Exempt Ticker             Fund Name            Amount NAC                Dividend Advantage   $.0054                                                                                Record Date        June 19, 2014 Ex-Dividend Date   June 17, 2014 Payable Date       July 1, 2014 Reinvest Date      July 1, 2014        Distribution Per Share                                        Tax Exempt Ticker             Fund Name           Amount NMT                MA Premium Income   $.0408                                          The purpose of the additional distributions is to ensure that shareholders will not experience a reduced monthly tax-exempt distribution amount. When combined with pre-merger distributions, declared May 27, 2014, payable August 1, 2014 for NAC and July 1, 2014 for NMT, all shareholders from funds participating in the NAC and NMT mergers will receive a total dollar amount equal to or greater than the tax-exempt income declared by their original fund in the month prior to the mergers.  In addition, for both the NKX and NMT mergers, Muni-Term Preferred (MTP) shares of acquired funds were replaced by newly issued shares of MTP from the acquiring funds with substantially similar terms. The initial distribution for these new MTP shares is prorated for the period June 9, 2014 through June 30, 2014.  The following dates apply to today's distribution declarations for the following MTP Shares issued by NKX and NMT:  Record Date       June 19, 2014                        Ex-Dividend Date   June 17, 2014 Payable Date       July 1, 2014 Ticker            MuniFund Term Preferred               Tax-Free Distribution                                                          Per Share NKX PrC            Nuveen California AMT-Free            0.01222247                    Municipal Income Fund MTP NMT PrE            Nuveen Massachusetts Premium Income   0.01588913                    Municipal Fund MTP NMT PrF            Nuveen Massachusetts Premium Income   0.01619420                    Municipal Fund MTP                                                            Monthly distributions from Nuveen's municipal closed-end funds and portfolios are generally exempt from regular Federal income taxes, and monthly distributions 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 distributions of the municipal funds and portfolios may be subject to the Federal Alternative Minimum Tax for some shareholders.*  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 $225 billion as of March 31, 2014. For more information, please visit the Nuveen Investments website at  *Nuveen does not provide tax advice; consult a professional tax advisor regarding your specific tax situation.                                                                 1515-INV-O06/15  Contact:  Nuveen Investments Media Contact: Kathleen Cardoza (312) 917-7813  
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