Nuveen Announces Closed-End Fund Merger Update

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the annual shareholder meetings of the Nuveen New York Dividend Advantage Municipal Fund (NYSE: NAN), Nuveen New York Performance Plus Municipal Fund, Inc. (NYSE: NNP) and Nuveen New York Dividend Advantage Municipal Fund 2 (NYSE MKT: NXK) had concluded without passing of the proposal to merge the funds. While participating shareholders voted overwhelmingly in favor of the proposal, the overall level of shareholder participation was not high enough for the proposal to pass.

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 $221 billion as of December 31, 2013. For more information, please visit the Nuveen Investments website at www.nuveen.com.

Nuveen InvestmentsMedia Contact:Kathleen Cardoza(312) [e-mail]