Two Nuveen Municipal Closed-End Funds Issue At-Par Redemption Notices for Auction-Rate Securities

CHICAGO--(BUSINESS WIRE)--Two closed-end funds sponsored by Nuveen Investments today called for redemption at par a portion of their outstanding auction-rate preferred securities (ARPS). The funds’ Board of Trustees has approved each redemption, which total $3 million. Each of the funds will be using tender option bonds (TOBs) to finance the partial redemption of its ARPS. TOBs are floating rate securities issued by trusts into which a fund has deposited municipal securities.

The funds issuing at-par redemption notices are:

Ohio Dividend Advantage Municipal Fund (NXI)

Ohio Dividend Advantage Municipal Fund 3 (NVJ)

The Depository Trust Company (DTC), the securities’ holder of record, determines how each partial redemption will be allocated among each participant broker-dealer account. Each participant broker-dealer, as nominee for underlying beneficial owners (street-name shareholders), in turn determines how redeemed shares are allocated among its underlying beneficial owners. The procedures used by different broker-dealers to allocate redeemed shares among beneficial owners may differ from each other as well as from the procedures used by DTC.

The tables below list the total number of shares, par amounts and scheduled redemption dates for these redemptions:

NXI is redeeming $2 million of its $31 million of currently outstanding ARPS.

		Total Shares	Total Amount	Redemption
Series	Cusip #	Redeemed	Redeemed	Date
W	67070C206	80	$2,000,000	December 22, 2009

NVJ is redeeming $1 million of its $16.5 million of currently outstanding ARPS.

		Total Shares	Total Amount	Redemption
Series	Cusip #	Redeemed	Redeemed	Date
T	67071V203	40	$1,000,000	December 28, 2009

For more information about Nuveen closed-end funds, visit www.nuveen.com/cef. ARPS information and updates are posted on Nuveen’s auction-rate preferred resource center at www.nuveen.com/arps.

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 $141 billion of assets on September 30, 2009. For more information, please visit the Nuveen Investments website at www.nuveen.com.