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Two Nuveen Closed-End Funds Announce Pricing and Placement of $741 Million Private Offering

Nuveen Investments today announced that the Nuveen Insured Municipal Opportunity Fund, Inc. (NYSE: NIO) and Nuveen Insured California Premium Income Municipal Fund 2, Inc. (NYSE: NCL) have completed private offerings of Variable Rate Demand Preferred shares placed with qualified institutional buyers of $667.2 million and $74 million respectively, as defined pursuant to Rule 144A under the Securities Act of 1933.

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