Nuveen Announces New Offering of Portfolio Based OnFortune's "America's Most...

Business Editors

CHICAGO--(BUSINESS WIRE)--March 1, 2000

Nuveen is now offering financial advisers a new defined portfolio based on FORTUNE's prestigious "America's Most Admired Companies" list. The Nuveen-FORTUNE America's Most Admired Companies Portfolio features

"The Nuveen-FORTUNE America's Most Admired Companies Portfolio gives investors an opportunity to invest in 10 of what is believed to be America's most respected companies all in one convenient investment," said William Adams, Managing Director, Nuveen Defined Portfolios.

For the past 18 years, FORTUNE has issued their "Most Admired" list using independent research based on the views of industry insiders. More than 10,000 financial analysts, senior executives and outside directors are asked to rank U.S. firms in their industries based on criteria such as financial soundness, long-term investment value, management quality, products or service quality, use of corporate assets, innovativeness, social responsibility and employee talent.

The Nuveen-FORTUNE America's Most Admired Companies Portfolio includes stocks from the following companies: General Electric (GE), Microsoft (MSFT), Dell Computer (DELL), Cisco Systems (CSCO), Wal Mart (WMT), Southwest Airlines (LUV), Berkshire Hathaway (BRK/B), Intel (INTC), Home Depot (HD) and Lucent Technologies (LU). These companies each represent approximately 10% of the Portfolio on the initial offering. The Portfolio requires a minimum investment of $1,000 ($500 for education IRAs). Given the market volatility of many of these stocks, Nuveen recommends this Portfolio be considered an aggressive growth investment that should be combined with other investments to achieve optimum portfolio diversification.

This Nuveen-Fortune America's Most Admired Companies Portfolio is available through registered advisers. The Portfolio has a 15-month life. A defined portfolio, or unit trust, is a fixed selection of stocks or bonds. Once created, the trust is unmanaged until maturity. Units of the trusts are sold as shares. Nuveen currently offers approximately 45 different defined portfolios to advisers.

An investment in this Portfolio should be made with an understanding of the risks involved with owning common stocks. Additionally, the Portfolio may be concentrated in a specific sector, subjecting it to further risks. The value of the Portfolio's units will fluctuate based on the value of the underlying securities, and there can be no assurance that this Portfolio will meet its objective. For more information about fees, expenses and risks, investors should obtain a prospectus from their financial adviser or from Nuveen by calling 800/257-8787. It is advisable that investors carefully read the prospectus before investing.

FORTUNE and "America's Most Admired Companies" are trade or service marks of Time Inc., publisher of FORTUNE magazine, and have been licensed for use for certain purposes by John Nuveen & Co. Incorporated. The Portfolio is not sponsored, endorsed, sold or promoted by FORTUNE magazine. FORTUNE makes no representation regarding the advisability of investing in such products.

Nuveen Investments, a unit of The John Nuveen Company, provides managed assets and structured investment products and services to help financial advisers serve the wealth management needs of individuals and families. Nuveen Investments manages or oversees $71 billion in assets, including $17 billion through its Rittenhouse office in Radnor, Pa. The John Nuveen Company's stock trades on the New York Stock Exchange under the symbol JNC.