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 www.nuveen.com.

*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
kathleen.cardoza@nuveen.com
 
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