NFC New Frontier Corporation

Nine closed-end funds sponsored by Nuveen Investments today called for redemption at par all of their outstanding auction-rate preferred securities (ARPS). The funds’ Board of Trustees has approved each redemption, which total $615.875 million. The Nuveen Municipal Market Opportunity Fund, Inc. (NSYE: NMO); Nuveen California Municipal Market Opportunity Fund, Inc. (NSYE: NCO); Nuveen Insured California Premium Income Municipal Fund, Inc. (NSYE: NPC); and Nuveen New York Performance Plus Municipal Fund, Inc. (NSYE: NNP) redemptions were achieved through the issuance of Variable Rate Demand Preferred shares (VDRPs). The Nuveen Massachusetts Dividend Advantage Municipal Fund (NSYE: NMB); Nuveen North Carolina Dividend Advantage Municipal Fund (NSYE: NRB); Nuveen North Carolina Dividend Advantage Municipal Fund 2 (NSYE: NNO); Nuveen Connecticut Dividend Advantage Municipal Fund (NSYE: NFC); and Nuveen Connecticut Dividend Advantage Municipal Fund 2 (NSYE: NGK) redemptions will be funded by proceeds received from the issuance of MuniFund Term Preferred Shares (MTP).

NMB is redeeming all of its $14.25 million of currently outstanding ARPS.

                      Total Shares   Total Amount   Redemption Series   Cusip #   Redeemed   Redeemed   Date T   67069P200   570   $14,250,000   April 19, 2010  

NRB is redeeming all of its $16.075 million of currently outstanding ARPS.

                      Total Shares   Total Amount   Redemption Series   Cusip #   Redeemed   Redeemed   Date T   67069N205   643   $16,075,000   April 26, 2010  

NNO is redeeming all of its $28.0 million of currently outstanding ARPS.

                      Total Shares   Total Amount   Redemption Series   Cusip #   Redeemed   Redeemed   Date F   67071D203   1,120   $28,000,000   April 22, 2010  

NFC is redeeming all of its $17.25 million of currently outstanding ARPS.

                      Total Shares   Total Amount   Redemption Series   Cusip #   Redeemed   Redeemed   Date T   67069T202   690   $17,250,000   April 26, 2010  

NGK is redeeming all of its $15.45 million of currently outstanding ARPS.

                      Total Shares   Total Amount   Redemption Series   Cusip #   Redeemed   Redeemed   Date W   67071R202   618   $15,450,000   April 27, 2010  

NMO is redeeming all of its $346.675 million of currently outstanding ARPS.

                      Total Shares   Total Amount   Redemption Series   Cusip #   Redeemed   Redeemed   Date M   67062W301   3,649   $91,225,000   April 23, 2010 T   67062W400   3,648   $91,200,000   April 26, 2010 W   67062W509   2,920   $73,000,000   April 27, 2010 F   67062W202   3,650   $91,250,000   April 22, 2010  

NCO is redeeming all of its $48.775 million of currently outstanding ARPS.

                      Total Shares   Total Amount   Redemption Series   Cusip #   Redeemed   Redeemed   Date W   67062U206   1,500   $37,500,000   April 27, 2010 F   67062U305   451   $11,275,000   April 22, 2010  

NPC is redeeming all of its $41.75 million of currently outstanding ARPS.

                      Total Shares   Total Amount   Redemption Series   Cusip #   Redeemed   Redeemed   Date T   67061X201   1,670   $41,750,000   April 26, 2010  

NNP is redeeming all of its $87.65 million of currently outstanding ARPS.

                      Total Shares   Total Amount   Redemption Series   Cusip #   Redeemed   Redeemed   Date M   67062R302   1,129   $28,225,000   April 23, 2010 T   67062R500   564   $14,100,000   April 26, 2010 W   67062R203   1,410   $32,250,000   April 27, 2010 F   67062R401   403   $10,075,000   April 22, 2010  

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