Nuveen Florida Closed-End Funds’ Trustees Approve Mergers Into Nuveen National CEFs

Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that on October 16, 2009, four closed-end funds, NWF, NFL, NQF and NUF, will consummate the mergers with three of Nuveen’s national closed-end municipal bond funds as follows:

Nuveen Insured Florida Premium Income Municipal Fund (NFL)
To be merged into
Nuveen Insured Municipal Opportunity Fund, Inc. (NIO)

Nuveen Florida Investment Quality Municipal Fund (NQF); and
Nuveen Florida Quality Income Municipal Fund (NUF)
To be merged into
Nuveen Premium Income Municipal Fund 2, Inc. (NPM)

Nuveen Insured Florida Tax-Free Advantage Municipal Fund (NWF)
To be merged into
Nuveen Insured Tax-Free Advantage Municipal Fund (NEA)

The exchanges will take place based upon the funds’ closing net asset values on October, 16, 2009, with Florida fund shareholders receiving national shares of equivalent total net asset value The net asset values of the Florida funds will reflect the accrual of unpaid merger related expenses, including expected legal expenses in connection with the previously announced merger-related litigation filed in Massachusetts Federal District Court.

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, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, the Company managed $128 billion of assets on June 30, 2009. For more information, please visit the Nuveen Investments website at www.nuveen.com.