Nuveen Massachusetts Premium Income Municipal Fund Issues Redemption Notice for Preferred Shares

  Nuveen Massachusetts Premium Income Municipal Fund Issues Redemption Notice
  for Preferred Shares

Business Wire

CHICAGO -- June 10, 2014

Nuveen Investments, a leading global provider of investment services to
institutions as well as individual investors, today announced that Nuveen
Massachusetts Premium Income Municipal Fund has filed with the Securities and
Exchange Commission notice of intention to redeem all of its outstanding
MuniFund Term Preferred (MTP) shares. The MTP redemption price will be the $10
liquidation preference per share, plus an additional amount representing the
final accumulated distribution amounts owed. The fund expects to finance the
MTP share redemptions with the proceeds of newly issued preferred shares (“new
preferred shares”). The redemptions are contingent upon the completion of all
aspects of such preferred share placements by the fund, which may not occur as
planned. Official notification of the redemptions will be delivered to MTP
shareholders of the fund at a later date through The Depository Trust Company
(DTC). The anticipated date of each redemption is July 11, 2014.

A description of the outstanding MTP shares being redeemed is as follows:

                                                  
Fund & Common Share Symbol                         MTP Share Symbols / CUSIPs
                                                    NMT PrC / 67061E 302

Nuveen Massachusetts Premium Income Municipal       NMT PrD / 67061E 401
Fund (NMT)                                        
                                                    NMT PrE / 67061E 609

                                                    NMT PrF / 67061E 708
                                                  

The address of the redemption and paying agent, Computershare Inc., is as
follows: 250 Royall Street, Canton, Massachusetts 02021.

The fund intends to offer new preferred shares to qualified institutional
buyers (as defined in Rule 144A of the Securities Act of 1933 (the Securities
Act)) in one or more private offerings exempt from registration under the
Securities Act.

No new preferred shares have been registered under the Securities Act or any
state securities laws. Unless so registered, no new 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 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 approximately $225 billion as of March 31, 2014. 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, new
    preferred shares in amounts sufficient for the fund to refinance its MTP
    shares as applicable;
  *the need to obtain the agreement of all parties to the final terms of any
    offering of new 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:
Kathleen Cardoza, (312) 917-7813
kathleen.cardoza@nuveen.com
 
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