From Nuveen

Craig (Chip) O. Bailey, Jr.

Executive Vice President
Head of Client Portfolio Management
and Strategic Partner Relations

Prior to joining NWQ in 2007, Chip served 10 years as Managing Principal of Westbourne Capital Management, LLC, a registered investment adviser he founded in 1997. At Westbourne, he managed separate investment portfolios for individuals, families, corporate pension funds, and eleemosynary accounts. Prior to that, Chip spent 14 years with Trust Company of the West. During this time, he was an Equity Analyst following the Food, Beverage, Tobacco, Auto, and Auto Parts Industries. He served as Assistant Director of Equity Research. He concluded his tenure at TCW as Managing Director, U.S. Equities, where he managed a concentrated large-capitalization equity portfolio strategy.

Chip graduated from the University of California, Los Angeles with a B.A. in History. He received his M.B.A. in Finance and Environmental Policy from the Kellogg School of Management at Northwestern University.

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities. The information does not take into account the specific objectives or circumstances of any investor, or suggest any specific course of action. Investment decisions should be made based on an investor's objectives and circumstances and in consultation with his or her advisors. All investments involve risk and there is no assurance that an investment will provide positive performance over any period of time. There is no assurance that downside protection will be achieved.

NWQ Investment Management Company, LLC

2049 Century Park East, Suite 1600 Los Angeles, CA, 90067

(310) 712-4000
(310) 712-4100 (fax)