NUM Nuveen Michigan Quality Municipal Income Fund

Nuveen Investments, an operating division of TIAA Global Asset Management, today announced that four 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 newly issued VMTP shares are as follows:

Nuveen AMT-Free Municipal Income Fund (NYSE: NEA)     $238.0 million Nuveen Arizona Premium Income Municipal Fund (NYSE: NAZ) $88.3 million Nuveen Michigan Quality Income Municipal Fund (NYSE: NUM) $173.0 million Nuveen Enhanced Municipal Credit Opportunities Fund (NYSE: NZF) $336.0 million

In these transactions, each fund completed an exchange offer in which it refinanced its existing VMTP shares with new VMTP shares with a term redemption date of June 1, 2019, with respect to NEA, NAZ and NUM and July 1, 2019, with respect to NZF. Each fund also sold additional VMTP shares totaling $87.0 million (NEA), $9.3 million (NAZ), $14.0 million (NUM), and $255.0 million (NZF), respectively. The proceeds from the sale of additional shares will be invested in accordance with each fund’s investment policies.

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

Nuveen provides investment solutions designed to help secure the long-term goals of individual investors and the financial advisors who serve them. Through the expertise and capabilities of TIAA Global Asset Management’s high-caliber investment managers, Nuveen is committed to providing world-class consultative services and advice that align with client needs. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen Investments is an operating division of TIAA Global Asset Management. For more information, please visit the Nuveen Investments website at www.nuveen.com.

16694-INV-O-05/17

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Nuveen InvestmentsMedia Contact:Kristyna Munoz(312) 917-8343kristyna.munoz@nuveen.com