Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that the Nuveen Quality Income Municipal Fund, Inc. (NYSE: NQU) called for redemption at par all of its outstanding auction-rate preferred securities (ARPS). The funds' Board of Trustees has approved this redemption, which totals $386.875 million and will be funded by proceeds received from the issuance of Variable Rate Demand Preferred shares (VDRPs).

NQU is redeeming all of its $386.875 million of currently outstanding ARPS.

                 
Series   Cusip #  

Total Shares
Redeemed

  

Total Amount
Redeemed

  

Redemption
Date

M   670977206   2,567   $64,175,000   January 21, 2011
T   670977404   2,569   $64,225,000   January 24, 2011
W1   670977503   2,568   $64,200,000   January 18, 2011
W2   670977701   1,780   $44,500,000   January 18, 2011
TH   670977602   3,423   $85,575,000   January 19, 2011
F   670977305   2,568   $64,200,000   January 20, 2011
       

For more information about Nuveen closed-end funds, visit www.nuveen.com/cef. ARPS information and updates are posted on Nuveen's auction-rate preferred resource center at www.nuveen.com/arps.

Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds, Winslow Capital and Nuveen HydePark. In total, the Company managed nearly $163 billion as of September 30, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.

Nuveen Investments
Media Contact:
Kristyna Sujata, 312-917-8343
kristyna.sujata@nuveen.com