Nuveen Tax-Advantaged Total Return Strategy Fund
Issues At-Par Redemption Notices for Auction-Rate Securities

CHICAGO--(BUSINESS WIRE)--Nuveen Tax-Advantaged Total Return Strategy Fund (NYSE:JTA) today called for redemption at par all outstanding shares of its auction-rate FundNotes. The fund’s Board of Trustees has approved the redemption, which is part of a refinancing expected to lower the relative costs of leverage for the fund over time while also providing liquidity at par for the holders of the fund’s auction-rate securities. The fund will redeem its entire $78 million in auction-rate FundNotes referenced below and those securities will be replaced with new borrowings.

Series		Cusip #		Total Shares Redeemed		Total Amount Redeemed		Redemption Date
F		67090HAA0		3,120		$78,000,000		April 28, 2008

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 NWQ, Santa Barbara, Tradewinds, Rittenhouse, Symphony and Nuveen, including the Nuveen HydePark Group. In total, the Company managed $164 billion in assets as of December 31, 2007.

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: changes in securities or financial markets or general economic conditions, including changes in interest rates for borrowings, and other risks discussed from time to time in the fund’s filings with the Securities and Exchange Commission. Nuveen Investments and the closed-end funds managed by Nuveen Investments and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.