NFC Nuveen Connecticut Dividend Advantage Municipal Fund Common Shares of Beneficial Interest

Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors today announced that the following funds have declared their first distributions for MuniFund Term Preferred shares (MTP) each fund has issued:

• Nuveen Dividend Advantage Municipal Fund

 

NAD PrC

• Nuveen Massachusetts Dividend Advantage Municipal Fund

NMB PrC

• Nuveen North Carolina Dividend Advantage Municipal Fund

NRB PrC

• Nuveen New York Municipal Market Opportunity Fund

NNO PrC

• Nuveen Connecticut Dividend Advantage Municipal Fund

NFC PrC

• Nuveen Connecticut Dividend Advantage Municipal Fund 2

NGK PrC

These distributions cover the initial distribution periods of:

• 45 days between the shares’ settlement on March 16, 2010 and April 30, 2010 for NAD PrC
• 38 days between the shares’ settlement on March 23, 2010 and April 30, 2010 for NMB PrC
• 31 days between the shares’ settlement on March 30, 2010 and April 30, 2010 for NRB PrC
• 31 days between the shares’ settlement on March 30, 2010 and April 30, 2010 for NNO PrC
• 30 days between the shares’ settlement on March 31, 2010 and April 30, 2010 for NFC PrC
• 30 days between the shares’ settlement on March 31, 2010 and April 30, 2010 for NGK PrC

Based on the par amount of $10 per share, these distributions reflect annualized distribution rates of 2.700 percent for NAD PrC and 2.600 percent for NMB PrC, NRB PrC, NNO PrC, NFC PrC, and NGK PrC.

MuniFund Term Preferred Shares are a form of preferred share issued by Nuveen municipal bond closed-end funds for the purposes of locking in leverage costs at an attractive fixed tax-exempt cost and to hedge against the risk of rising short-term rates. This hedging effort is designed to improve future common share net earnings and distributions, and to simultaneously provide the opportunity for partial or full liquidity at par for that fund’s outstanding auction-rate preferred shares (ARPS).

The following dates apply to today’s dividend declaration:

Record Date   April 29, 2010 Ex-Dividend Date April 27, 2010 Payable Date May 3, 2010

Ticker

 

MuniFund Term Preferred

 

Monthly Tax-Free Distribution Per Share*

NAD PrC Nuveen Dividend Advantage Municipal Fund MTP .033750 NMB PrC Nuveen Massachusetts Dividend Advantage Municipal Fund MTP .027444 NRB PrC Nuveen North Carolina Dividend Advantage Municipal Fund MTP .022389 NNO PrC Nuveen New York Municipal Market Opportunity Fund MTP .022389 NFC PrC Nuveen Connecticut Dividend Advantage Municipal Fund MTP .021667 NGK PrC Nuveen Connecticut Dividend Advantage Municipal Fund 2 MTP .021667

*Income may be subject to state and local taxes as well as the Federal Alternative Minimum Tax.

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 $145 billion as of December 31, 2009. For more information, please visit the Nuveen Investments website at www.nuveen.com.