NGK Nuveen Connecticut Dividend Advantage Municipal Fund 2 Common Shares of Beneficial Interest

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced distributions for certain Nuveen Connecticut, Georgia and North Carolina state municipal bond closed-end funds. The shareholders of the funds listed below, have approved proxies to reorganize into larger funds. The reorganization is expected to take place after the close of business on Friday, July 6, 2012, effective Monday July 9, 2012, with three funds acquiring the common and preferred assets of the other funds. The goal of this reorganization is to create three, larger state-specific municipal bond funds, with lower operating expenses and increased share trading volume.

              Acquired Fund   Symbol   Acquiring Fund   Symbol -- Nuveen Connecticut Dividend Advantage Municipal Fund   NFC  

Nuveen Connecticut

  NTC -- Nuveen Connecticut Dividend Advantage Municipal Fund 2 NGK

Premium Income

-- Nuveen Connecticut Dividend Advantage Municipal Fund 3   NGO  

Municipal Fund

    -- Nuveen Georgia Premium Income Municipal Fund NPG

Nuveen Georgia

NKG -- Nuveen Georgia Dividend Advantage Municipal Fund   NZX  

Dividend AdvantageMunicipal 2 Fund

    -- Nuveen North Carolina Dividend Advantage Municipal Fund NRB

Nuveen North Carolina

NNC -- Nuveen North Carolina Dividend Advantage Municipal 2 Fund NNO

Premium Income

-- Nuveen North Carolina Dividend Advantage Municipal 3 Fund   NII  

Municipal Fund

     

Regulations require that the acquired funds fully distribute any accumulated undistributed net investment income (UNII) as well as capital gains prior to effecting a reorganization. Consequently, eight funds (NFC, NGK, NGO, NPG, NZX, NRB, NNO and NII) are declaring distributions which will comply with these regulations, payable August 1, 2012 to fund shareholders of record on July 6, 2012. In addition, the acquiring funds NTC, NKG and NNC are declaring distributions payable August 1, 2012 to shareholders of record on July 6, 2012. Following the merger NTC, NKG and NNC will declare an additional distribution, also payable August 1, 2012. The total dollar amount of the combined pre- and post-merger tax-exempt distributions received on August 1, 2012 will be equal to or greater than the shareholder’s prior monthly tax-exempt dividend.

Some portion of these distributions is taxable* to shareholders under the Internal Revenue Code as long-term and or short-term capital gains. The distribution information is detailed in the table below.

For more information about UNII, each fund, and the shareholder-approved reorganization, please visit http://www.nuveen.com/CEF.

The following dates apply to distribution declarations for the following Closed-End Funds:

Record Date   July 6, 2012 Ex-Dividend Date July 3, 2012 Payable Date August 1, 2012 Reinvest Date August 1, 2012             Distribution Amount  

Tax-ExemptIncome

 

Long-termCapital Gain

 

Tax-ExemptIncome

 

OrdinaryIncome

Acquiring Fund   NNC   0.0091   -   -   - Acquired Funds   NRB   0.0379   0.0253   -   -   NNO   0.0168   -   -   -   NII   0.0092   -   -   - Acquiring Fund   NTC   0.0418   -   -   - Acquired Funds   NFC   0.0667   0.0183   0.0232   0.0018   NGK   0.0411   0.0391   -   -   NGO   0.0499   -   -   0.0075 Acquiring Fund   NKG   0.0482   -   -   - Acquired Funds   NPG   0.1226   -   -   -   NZX   0.0528   -   -   -        

Acquired Fund Muni-Term Preferred (MTP) shares will be replaced with newly issued shares of MTP from the acquiring Funds with substantially similar terms. Consequently, the MTP series being replaced are declaring final distributions for the period July 1, 2012 through July 8, 2012, which will be payable August 1, 2012. The new MTP series of the acquiring fund will declare a distribution on the effective date of the merger for the period of July 9, 2012 through July 31, 2012 which, when combined with the distributions listed below will be equal to the shareholders original pre-merger monthly distribution.

  Record Date July 6, 2012 Ex-Dividend Date July 3, 2012 Payable Date August 1, 2012 Reinvest Date August 1, 2012                 Tax-Free Distribution Per Ticker   MuniFund Term Preferred   Share NGK PrC   Connecticut Dividend Advantage Municipal Fund 2 MTP   0.005778 NGO PrC   Connecticut Dividend Advantage Municipal Fund 3 MTP   0.005889 NFC PrC   Connecticut Dividend Advantage Municipal Fund MTP   0.005778 NZX PrC   Georgia Dividend Advantage Municipal Fund MTP   0.005889 NPG PrC   Georgia Premium Income Municipal Fund MTP   0.005889 NNO PrC   North Carolina Dividend Advantage Municipal Fund 2 MTP   0.005778 NII PrC   North Carolina Dividend Advantage Municipal Fund 3 MTP   0.005889 NRB PrC   North Carolina Dividend Advantage Municipal Fund MTP   0.005778  

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 $227 billion as of March 31, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.

*Nuveen is not a tax advisor. You should consult with a tax specialist for specific tax advice.