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Four Nuveen Closed-End Funds Issue At-Par Redemption Notices for Auction-Rate Preferred Securities

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^{Published in Business and Finance on Thursday, January 15th 2009 at 6:58 GMT, Last Modified on 2009-01-15 06:59:37 by Market Wire}  

CHICAGO--([ BUSINESS WIRE ])--Four closed-end funds sponsored by Nuveen Investments, Nuveen Diversified Dividend and Income Fund (NYSE: JDD), Nuveen Floating Rate Income Fund (NYSE: JFR), Nuveen Floating Rate Income Opportunity Fund (NYSE: JRO) and Nuveen Senior Income Fund (NYSE: NSL), today called for redemption at par of a portion of their outstanding auction-rate preferred securities (ARPS). The funds' Board of Trustees has approved each redemption.

JDD is redeeming $7 million of its currently outstanding $72 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JDD redemptions:

JFR is redeeming $60 million of its currently outstanding $165 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JFR redemptions:

JRO is redeeming $40 million of its currently outstanding $100 million of ARPS. The table below lists the total number of shares, par amounts and scheduled redemption dates for JRO redemptions:

NSL is redeeming $20 million of its currently outstanding $46 million of ARPS. The table below lists the total number of shares, par amount and scheduled redemption date for NSL redemptions:

For more information about Nuveen closed-end funds, visit [ www.nuveen.com/cef ]. ARPS information and updates are posted on Nuveen's auction-rate preferred resource center at [ www.nuveen.com/arps ].

Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of HydePark, NWQ, Nuveen, Rittenhouse, Santa Barbara, Symphony and Tradewinds. In total, the Company managed $134 billion of assets on September 30, 2008.