NQN Nuveen New York Investment Quality Municipal Fund, Inc.

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced distributions for six Nuveen New York municipal closed-end funds. The shareholders of these funds, Nuveen New York Quality Income Fund, Inc. (NYSE: NUN), Nuveen New York Premium Income Fund, Inc. (NYSE: NNF), Nuveen New York Investment Quality Municipal Income Fund, Inc. (NYSE: NQN), Nuveen New York Select Quality Income Fund, Inc. (NYSE: NVN), Nuveen New York Dividend Advantage Municipal Income Fund (NYSE MKT: NKO) and Nuveen New York AMT-Free Municipal Income Fund (NYSE MKT: NRK) 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, March 8, 2013, effective Monday March 11, 2013, with NRK acquiring the common and preferred assets of the other funds. The goal of this reorganization is to create a single, larger AMT-free New York 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   March 8, 2013     Ex-Dividend Date March 6, 2013       Payable Date April 1, 2013 Per Share Distribution Amount Reinvest Date April 1, 2013 Tax-Exempt Long-Term         Income   Capital Gain Acquiring Fund   NRK   0.0540   - NNF   0.0695   0.0069 NUN   0.0700   0.0085 Acquired Funds NVN   0.0725   0.0155 NKO   0.0650   -     NQN   0.0690   0.0081  

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

Record Date   March 8, 2013   Ex-Dividend Date March 6, 2013   Payable Date May 1, 2013 Per Share Distribution Amount Reinvest Date May 1, 2013

Tax-Exempt

Income

        Acquiring Fund   NRK   0.0540 NNF   0.2265 NUN   0.0982 Acquired Funds NVN   0.1076 NKO   0.0643     NQN   0.1249  

Regulations require that the acquired funds fully distribute any accumulated undistributed net investment income (UNII) prior to effecting the reorganization. Consequently, five funds (NUN, NNF, NQN, NVN and NKO) are declaring distributions which will comply with these regulations, payable April 1, 2013 and May 1, 2013 to fund shareholders of record on March 8, 2013. In addition, the acquiring fund (NRK) is declaring distributions payable April 1, 2013 and May 1, 2013 to shareholders of record on March 8, 2013. A portion of these distributions for four of the funds will be comprised of long-term capital gains under the Internal Revenue Code. The distribution information is detailed in the table above.

Since the record date is March 8, 2013 for all six funds’ distributions payable April 1, 2013 and May 1, 2013, any new fund shares acquired between the associated ex-dividend date of March 6, 2013 and the June distribution’s ex-dividend date of May 13, 2013 will not receive a full monthly distribution until June 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 six funds who hold shares as of the March 8, 2013 record date will continue to receive full monthly distributions each month from April through June, 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.