Eight Nuveen National Municipal Closed-End Funds Declare Pre-Merger Distributions

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced distributions for eight national municipal closed-end funds. The specific distribution dates and amounts are detailed below. As previously announced, the shareholders of these funds approved the reorganization of the funds into two, larger funds with distinct investment mandates.

The following dates apply to distribution declarations for the following Closed-End Funds:

Record Date

April 8, 2016

Ex-Dividend Date

April 6, 2016

Payable Date

May 2, 2016

Reinvest Date

May 2, 2016

Per Share Distribution Amount

Tax-Exempt

Long-Term

Ticker

Fund Name

Income

Capital Gain

        
      
      
        
          NPT
        
        
        
        
          Premium Income Municipal Fund 4, Inc.
        
        
        
        
          $.1024
        
        
        
        
          -
        
      
      
        
          NXZ
        
        
        
        
          Dividend Advantage Municipal Fund 2
        
        
        
        
          $.0614
        
        
        
        
          -
        
      
      
        
          NMA
        
        
        
        
          Municipal Advantage Fund, Inc.
        
        
        
        
          $.0122
        
        
        
        
          -
        
      
      
        
          NIO
        
        
        
        
          Municipal Opportunity Fund, Inc.
        
        
        
        
          $.0660
        
        
        
        
          $.0073
        
      
      
        
          NQI
        
        
        
        
          Quality Municipal Fund, Inc.
        
        
        
        
          $.0766
        
        
        
        
          -
        
      
      
        
          NQU
        
        
        
        
          Quality Income Municipal Fund, Inc.
        
        
        
        
          $.0548
        
        
        
        
          -
        
      
      
        
          NZF
        
        
        
        
          Dividend Advantage Municipal Fund 3
        
        
        
        
          $.0131
        
        
        
        
          -
        
      
      
        
          NVG
        
        
           
        
        
          Dividend Advantage Municipal Income Fund
        
        
           
        
        
          $.0504
        
        
           
        
        
          -
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
    
    

Regulations require that acquired funds in any reorganization fully distribute any accumulated undistributed net investment income (UNII) prior to effecting the reorganization. A portion of the distribution for NIO will be comprised of long-term capital gains under the Internal Revenue Code.

Following the merger, the acquiring funds, Nuveen Dividend Advantage Municipal Income Fund (NVG) and Nuveen Dividend Advantage Municipal Fund 3 (NZF), are expected to declare additional distributions, payable May 2, 2016. The total dollar amount of the pre- and post-merger tax-exempt distributions received on May 2, 2016 will be equal to or greater than the shareholder’s prior monthly tax-exempt dividend.

For more information about UNII, each fund, and the shareholder-approved reorganization, please visit http://www.nuveen.com/CEF.

Nuveen provides investment solutions designed to help secure the long-term goals of individual investors and the financial advisors who serve them. Through the expertise and capabilities of its high-caliber investment managers, the firm is committed to providing world-class consultative services and advice that align with client needs. Nuveen Investments is an operating division of TIAA Global Asset Management. In total, Nuveen Investments managed approximately $225 billion as of December 31, 2015. For more information, please visit the Nuveen Investments website at www.nuveen.com.

FORWARD LOOKING STATEMENTS

Certain statements made in this release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:

- market developments;- legal and regulatory developments; and- other additional risks and uncertainties.

Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.

14868-INV-O-03/17

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Nuveen InvestmentsMedia Contact:Kristyna Munoz, (312) [e-mail]