Nuveen Announces Update on Equity Option Closed-End Fund Restructuring

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the restructuring of Nuveen’s suite of equity option closed-end fund will now be effective prior to the opening of the New York Stock Exchange on Monday, December 22, 2014. As previously announced, the restructuring will create a series of scaled, unleveraged funds, each offering shareholders a choice of underlying equity index exposure (S&P 500, Dow 30 or Nasdaq 100) along with an option overlay strategy that seeks to provide participation in the returns of the respective indices but with less expected volatility and a measure of downside protection over time. The funds involved in the restructuring are:

• Nuveen Equity Premium Income Fund (JPZ);
• Nuveen Equity Premium and Growth Fund (JPG);
• Nuveen Equity Premium Advantage Fund (JLA);
• Dow 30 SM Premium & Dividend Income Fund Inc. (DPD);
• Dow 30 SM Enhanced Premium & Income Fund Inc. (DPO);
• NASDAQ Premium Income & Growth Fund Inc. (QQQX);and
• Nuveen Equity Premium Opportunity Fund (JSN).

As noted above, subject to the satisfaction of certain customary closing conditions, the restructuring is expected to be effective prior to the opening of the New York Stock Exchange on December 22, 2014. More information on these and other Nuveen closed-end funds is posted on Nuveen’s web site at www.nuveen.com/cef.

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 independent investment subsidiaries of Nuveen Investments, Inc. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen Investments operates as a separate subsidiary within TIAA-CREF, which is a leading provider of retirement and financial services in the academic, research, medical and cultural fields. In total, Nuveen Investments managed approximately $229 billion as of September 30, 2014. For more information, please visit the Nuveen Investments website at www.nuveen.com.