NMP Nuveen Michigan Premium Income Municipal Fund, Inc.

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced distributions for several Nuveen Michigan state municipal bond closed-end funds.

These distributions follow the recently approved reorganization of the affected Michigan funds below with the reorganizations expected to price after the close of business on Friday, January 4, 2013, and close before the market open on Monday, January 7, 2013. The acquiring fund will assume both the common and preferred assets of the other two funds. The goal of this reorganization is to create a larger state-specific municipal bond fund, with lower operating expenses and increased share trading volume.

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, the two acquired funds listed below (NMP and NZW) are declaring distributions, payable February 1, 2013, to fund shareholders of record on January 4, 2013. In addition, the acquiring fund is declaring a distribution payable February 1, 2013, to shareholders of record on January 4, 2013. The distribution information is detailed in the table below.

      Acquired Fund   Acquiring Fund -- Nuveen Michigan Quality Income Municipal Fund (NUM)   -- Nuveen Michigan Premium Income Municipal Fund (NMP)     -- Nuveen Michigan Dividend Advantage Municipal Fund (NZW)  

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

Record Date   January 4, 2013   Ex-Dividend Date January 2, 2013   Payable Date February 1, 2013 Distribution Amount Reinvest Date February 1, 2013

Tax-ExemptIncome

 

        Acquiring Fund   NUM   .0740 Acquired Funds   NMP   .2405     NZW   .0903  

Muni-Term Preferred Shares (MTP)

The acquired funds’ Muni-Term Preferred (MTP) shares will be replaced one for one with newly issued shares of MTP from the acquiring fund with substantially similar terms. Consequently, the MTP series being replaced are declaring final distributions for the period January 1, 2013 through January 6, 2013, which will be payable February 1, 2013. The new MTP series of the acquiring fund will declare a distribution on the effective date of the merger for the period of January 7, 2013 through January 31, 2013 which, when combined with the distributions listed below will be equal to the shareholders original pre-merger monthly distribution.

Record Date

  January 4, 2013 Ex-Dividend Date January 2, 2013 Payable Date February 1, 2013 Reinvest Date February 1, 2013                 Tax-Free Distribution Per Ticker   MuniFund Term Preferred   Share NZW PrC   Nuveen Michigan Dividend Advantage Municipal Fund MTP   $0.003833  

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

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 $220 billion as of September 30, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.