Nuveen Diversified Commodity Fund Attracts $245 Million in Successful IPO

Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced it has successfully completed the initial public offering of the Nuveen Diversified Commodity Fund. The Nuveen Diversified Commodity Fund will invest primarily in a diversified portfolio of commodity futures and options contracts. The fund will begin trading on the NYSE Amex today, under the symbol CFD.

The fund raised $245 million in its share offering, assuming full exercise of the underwriters’ option to purchase additional shares, which may not occur.

Nuveen Commodities Asset Management, LLC, a wholly-owned subsidiary of Nuveen Investments, is the manager of the fund and will be responsible for determining the fund’s overall investment strategy and its implementation. Gresham Investment Management LLC is the fund’s commodity subadvisor and will manage the fund’s commodity investment strategy and options strategy. Nuveen Asset Management serves as the fund’s collateral subadvisor.

BofA Merrill Lynch, UBS Investment Bank and Wells Fargo Securities, LLC acted as joint book-running managers for the offering, with Nuveen Investments, LLC acting as joint lead manager. Janney Montgomery Scott, Ladenburg Thalmann & Co. Inc., Maxim Group LLC, RBC Capital Markets and Stifel Nicolaus Weisel acted as co-managers.

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 $150 billion as of June 30, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the offered shares, nor shall there be any sale of such shares in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction. The offering is being made solely by means of a prospectus.

A copy of the final prospectus related to the offering will be filed with the Securities and Exchange Commission and can be obtained, when available, by contacting your securities representative or Nuveen Investments, LLC, 333 W. Wacker Drive, Chicago, IL 60606. Investors should read the prospectus carefully before they invest or send money.

Forward-Looking Statements

This press release contains forward-looking statements, including statements related to the fund’s initial public offering and the expected use of those net proceeds, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. For a discussion of these and other factors that could affect the fund's future results, performance or transactions, see the section entitled "Risk Factors" in the fund's final prospectus relating to its initial public offering, and other risks described in documents subsequently filed by the fund from time to time with the Securities and Exchange Commission.

Nuveen Diversified Commodity Fund Common Units of Beneficial Interest (AMEX:CFD)
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