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. NIO and Nuveen Insured California Premium Income Municipal Fund 2, Inc. 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.