NPX Nuveen Premium Income Municipal Opportunity Fund

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced common share distributions for three municipal closed-end funds. The shareholders of these funds, Nuveen Premier Municipal Opportunity Fund, Inc. (NIF), Nuveen Premium Income Municipal Opportunity Fund (NPX) and Nuveen AMT-Free Municipal Income Fund (NEA), have each approved the reorganization of their fund into a single, larger fund. The reorganization is expected to take place after the close of business on Friday, May 3, 2013, effective Monday May 6, 2013, with NEA acquiring the common and preferred assets of NIF and NPX. The goal of this reorganization is to create a single, larger AMT-free municipal bond fund, with lower operating expenses and increased share trading volume.

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

Record Date   5/3/2013       Ex-Dividend Date 5/1/2013       Payable Date 6/3/2013 Per Share Distribution Amount Reinvest Date 6/3/2013 Tax-Exempt Long-Term           Income   Capital Gain Acquiring Fund   NEA     $0.0680   - Acquired Funds NIF     $0.0720   -   NPX     $0.0620   -  

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

Record Date   5/3/2013       Ex-Dividend Date 5/1/2013       Payable Date 7/1/2013 Per Share Distribution Amount Reinvest Date 7/1/2013 Tax-Exempt Long-Term           Income   Capital Gain Acquiring Fund   NEA     $0.0471   - Acquired Funds NIF     $0.0501   -   NPX     $0.1081   -  

Regulations require that the acquired funds fully distribute any accumulated undistributed net investment income (UNII) prior to effecting the reorganization. Consequently, two funds (NIF and NPX) are declaring distributions which will comply with these regulations, payable June 3, 2013 and July 1, 2013 to fund shareholders of record on May 3, 2013. In addition, the acquiring fund (NEA) is declaring distributions payable June 3, 2013 and July 1, 2013 to shareholders of record on May 1, 2013. The distribution information is detailed in the table above.

Since the record date is May 3, 2013 for all three funds’ distributions payable June 3, 2013 and July 1, 2013, any new fund shares acquired between the associated ex-dividend date of May 1, 2013 and the August 2, 2013 distribution’s ex-dividend date of July 15, 2013 will not receive a full monthly distribution until August 1, 2013. However, the tax-exempt income earned on these shares during this period will be reflected in each fund’s net asset value as undistributed net investment income (UNII) which will be paid out over time. Shareholders of all three funds who hold shares as of the May 3, 2013 record date will continue to receive full monthly distributions each month from June 3, 2013 through July 1, 2013.

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, LLC, Symphony Asset Management LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital Management, LLC and Gresham Investment Management LLC all of which are registered investment advisers and subsidiaries of Nuveen Investments, Inc. In total, Nuveen Investments managed approximately $219 billion as of December 31, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.

FORWARD LOOKING STATEMENTS

Certain statements made in this release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:

- market developments;

- legal and regulatory developments; and

- other additional risks and uncertainties.

Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.