Nuveen Closed-End Fund Declares Initial Distribution for MuniFund Term Preferred Shares

CHICAGO--(BUSINESS WIRE)--Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors today announced the first distribution declaration for the MuniFund Term Preferred shares (MTP) of the Nuveen Insured Dividend Advantage Municipal Fund (NVG PrC). This distribution covers the time period of 42 days between the shares’ settlement on October 19, 2009 and the payable date of November 30, 2009. Based on the par amount of $10 per share, this distribution reflects an annualized distribution rate of 2.95 percent.

MuniFund Term Preferred Shares are a new 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		November 15, 2009
Ex-Dividend Date		November 11, 2009
Payable Date		December 1, 2009

				Tax-Free* Distribution Per Share
				Amount
Ticker		Fund Name
NVG.PrC		Nuveen Insured Dividend Advantage Municipal Fund MuniFund Term Preferred shares		$.034417

*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 $128 billion of assets on June 30, 2009. For more information, please visit the Nuveen Investments website at www.nuveen.com.