Nuveen Insured Quality Muncipal Fund Inc : Three Nuveen National Municipal Closed-End Funds Complete Private Issuance of Preferred Securities

More than $1 Billion Exchange of Variable Rate MuniFund Term Preferred Shares Lowers Overall Cost of Leverage for Common Shareholders

Nuveen Investments, a leading global provider of investment services to institutions, as well as individual investors, today announced that three national municipal closed-end funds have successfully completed Variable Rate MuniFund Term Preferred Shares (VMTP) transactions in privately negotiated exchange offers and private placements. The funds and their corresponding amounts of VMTP shares are as follows:

Nuveen Premium Income Municipal Fund, Inc. (NYSE: NPI)					$407.0 million
Nuveen Performance Plus Municipal Fund, Inc. (NYSE: NPP)					$535.0 million
Insured Quality Municipal Fund, Inc. (NYSE: NQI)					$240.4 million

In these transactions, each fund completed an exchange offer in which it refinanced its existing VMTP shares with new VMTP shares at a reduced cost and with a term redemption date of December 1, 2015. Two of the funds, NPI and NPP, have also issued additional VMTP shares totaling $4.6 million and $113.3 million, respectively. The proceeds from the additional shares will be used to take advantage of opportunities in the current municipal market.

VMTP dividends will be set weekly at a fixed spread to the Securities Industry and Financial Markets Association Municipal Swap Index (SIFMA). VMTP shares are preferred securities of the fund and are senior, with priority in all respects, to the fund's common shares in liquidation and as to payments of dividends.

Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates--Nuveen Asset Management, Symphony Asset Management, NWQ Investment Management Company, Santa Barbara Asset Management, Tradewinds Global Investors, Winslow Capital Management, and Gresham Investment Management. In total, Nuveen Investments managed approximately $212 billion as of June 30, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.

Nuveen Investments
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