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

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^{Published in Business and Finance on Friday, May 6th 2011 at 18:01 GMT by Market Wire}  

CHICAGO--([ BUSINESS WIRE ])--Nuveen Investments, a leading global provider of investment services to institutions as well as high-net-worth and affluent investors, today announced that four closed-end funds, Nuveen Premium Income Municipal Fund 2, Inc. (NYSE: NPM), Nuveen Select Quality Municipal Fund, Inc. (NYSE: NQS), Nuveen Investment Quality Municipal Fund, Inc. (NYSE: NQM) and Nuveen Premier Municipal Income Fund, Inc. (NYSE: NPF) called for redemption at par all of their outstanding auction-rate preferred securities (ARPS). The fundsa™ Board of Trustees has approved these redemptions, which total approximately $1.1 billion and will be funded by proceeds received from the issuance of Variable Rate Demand Preferred shares (VDRP).

NPM is redeeming all of its $487.525 million of currently outstanding ARPS.

NQS is redeeming all of its $251.275 million of currently outstanding ARPS.

NQM is redeeming all of its $210.7 million of currently outstanding ARPS.

NPF is redeeming all of its $126.85 million of currently outstanding ARPS.

For more information about Nuveen closed-end funds, visit [ www.nuveen.com/cef ]. ARPS information and updates are posted on Nuveena™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, high-net-worth and affluent 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 - NWQ, Nuveen Asset Management, Santa Barbara, Symphony, Tradewinds, and Winslow Capital. In total, Nuveen Investments managed $197 billion as of December 31, 2010. For more information, please visit the Nuveen Investments website at [ www.nuveen.com ].