Nuveen Tax-Advantaged Dividend Growth Fund (NYSE: JTD)
FACT SHEET AS OF 07/30/2010, UNLESS OTHERWISE INDICATED
OBJECTIVE & INVESTMENT STRATEGY

The fund's investment objective is to provide an attractive level of distributions and capital appreciation. In pursuing its investment objective, the fund seeks to reduce and defer potential federal income tax liabilities incurred by the holders of its common shares in connection with their investment in the fund.

The fund seeks to achieve its investment objective by investing in dividend-paying equity securities consisting primarily of common stocks of mid- to large-cap companies that have attractive dividend income and the potential for future dividend growth and capital appreciation and, to a lesser extent, preferred stocks of mid- to large-cap companies. Under normal market circumstances, the fund will invest at least 80% of its Managed Assets in securities that are eligible to pay tax-advantaged dividends.

The fund, to a limited extent, will write (sell) call options on various equity market indices. In addition, the fund intends to seek to increase Common Share net income and returns by utilizing financial leverage through borrowings and/or offering preferred shares that may represent up to approximately 33% of the fund's Managed Assets.

DISTRIBUTION HISTORY
MANAGED DISTRIBUTION POLICYManaged Distribution Policy: This fund has adopted a Managed Distribution Policy, designed to provide attractive, quarterly distributions throughout the course of the year. Under this policy, the fund seeks to maintain a stable quarterly distribution amount (in cents per common share), comprised of payments received from portfolio companies, as well as net realized fund portfolio capital gains and, if necessary, a return of capital (representing in some cases net unrealized capital gains). The fund will determine the tax characteristics of all fund distributions after the end of the calendar year and will provide shareholders such information at that time.
KEY INFORMATION REGARDING DISTRIBUTIONS
Current Distribution (Quarterly) (As of 10/1/2010)$0.2600
Monthly Equivalent Distribution$0.0867
Avg. Earnings/Share** ( As of 7/31/2010)$0.0406
Annualized 1 Year Total Return on NAV (As of 8/31/2010)12.73%
Annualized Distribution Rate on NAV ††8.12%
Annualized Since Inception Total Return on NAV (As of 8/31/2010)-4.66%
Total % of Portfolio Leveraged (As of 7/30/2010)19.01%
Average Cost of Leverage(13 weeks) (As of 7/30/2010)1.71%
HIGHLIGHTS

An innovative, equity-based fund that seeks to provide:

  • Attractive, tax-advantaged quarterly distributions
  • Dividend growth potential
  • Capital appreciation opportunities
  • Potential for reduced risk vs. broad-based equity market indexes
PRICING & DISTRIBUTION
as of 09/01/2010
Closing Share Price (As of 9/1/2010)$11.86
Closing NAV per Share (As of 9/1/2010)$12.81
Premium / Discount-7.41%
Current Distribution Rate (Market price)††8.77%
Distribution Amount (Quarterly) $0.2600
CAPITAL STRUCTURE
as of 07/30/2010
Total Managed Assets $228,782,957
Common Shares 
Total Common Net Assets$185,282,957
Shares Outstanding14,504,240
Avg Daily Volume (in shares)25,395
 DollarPercent
Total Structural Leverage$43,500,00019.01%
Effective Leverage$43,500,00019.01%
Asset Coverage 1More Information 
FUND BASICS
CUSIP67073G105
NAV TickerXJTDX
Inception Date6/26/2007
Inception NAV$19.10
Inception Share Price$20.00
FUND CHARACTERISTICS
as of 06/30/2010
# of Holdings 102
% Foreign Holdings ‡16.26%
% Large, Mid, Small Cap †93.8%,4.4%,1.8%
Avg. Maturity (years) *37.35
Avg. Leverage Adjusted Duration (years) *14.36
Avg. Bond Price *$94.74
SHARE PRICE AND NAV HISTORY
Data reflects performance over the previous 12 months
As of 09/01/2010
ASSET ALLOCATION As of 06/30/2010
CALENDAR YEAR TOTAL RETURNS
As of 08/31/2010
Share Price 5.14% 47.97% -40.24% -- -- -- -- -- -- --
NAV 0.44% 26.65% -31.99% -- -- -- -- -- -- --

ANNUALIZED TOTAL RETURNS
Share Price 26.05% -2.88% -- -- -6.88%
NAV 12.73% -4.83% -- -- -4.66%
FUND MANAGER

Santa Barbara, a registered investment advisor, is a wholly owned subsidiary of Nuveen and the Fund’s sub-advisor responsible for managing the Fund’s Dividend Growth Equity Strategy. The firm has experience and expertise in managing equity portfolios of marketable securities for corporations, endowments, foundations and public plans. The experience gained by our professionals over many investment and economic cycles is the cornerstone of the dependable service now offered by the firm.
NWQ's approach to investing is based upon a bottom-up, fundamental approach. Our Research team focuses on understanding individual companies as businesses rather than simply as stocks by conducting independent research. While we pride ourselves on taking a long-term approach to investing our clients assets, our process is fluid and dynamic. Our portfolios are constantly monitored using and strictly adhering to our research and analyst driven process. NWQ, with over 20 years of investment experience, manages assets for Nuveen mutual funds and managed accounts, as well as for corporate and multiemployer plans, public entities, endowments, foundations and high net worth individuals.
Nuveen Asset Management’s option team, Rob Guttschow and John Gambla, follows a disciplined investment approach designed to enhance risk-adjusted returns by providing the potential for current gains and reduced relative risk and sensitivity to various sectors and exposures in a core portfolio. They design and manage equity and alternative based portfolios for a variety of funds.

ANNUAL EXPENSE RATIOS
as of 07/30/2010
 Total FundCommon Shares
Management Fees0.99%1.22%
Interest Expenses0.29%0.36%
Other Expenses0.11%0.13%
Total1.39%1.71%
See the fund's Annual Report for full information on expenses.
TOP ISSUERS
as of 06/30/2010
IssuerDollar Value% of Total Portfolio
Novo Nordisk A/S: Equity$5,339,2182.49%
Microchip Technolog: Equity$5,108,4322.39%
Chevron Corporation: Equity$4,875,7412.28%
Philip Morris Inter: Equity$4,863,1202.27%
Raytheon Company: Equity$4,744,0592.22%
YUM! Brands Inc: Equity$4,656,8472.18%
Waste Management In: Equity$4,615,4312.16%
Southern Copper Cor: Equity$4,592,7472.15%
Coca Cola Company: Equity$4,558,1632.13%
Abbott Laboratories: Equity$4,457,1982.08%

Data shown represents past performance and is no guarantee of future results. Market price and net asset value (NAV) of a Fund's shares will fluctuate with market conditions. Current performance may be higher or lower than the performance shown.

RISKS
Interest Rate RiskInterest rate risk is the risk that fixed-income securities such as bonds, preferred, convertible and other debt securities will decline in value because of changes in market interest rates. When market interest rates rise, the market value of such securities generally will fall. Consequently, the net asset value and market price of common shares will tend to decline if market interest rates rise. Call Risk or Prepayment RiskDuring periods of declining interest rates or for other purposes, issuers may exercise their option to prepay principal earlier than scheduled, forcing the fund to reinvest in lower-yielding securities. This is known as call or prepayment risk. Reinvestment RiskReinvestment risk is the risk that if market rates decline, income earned from the fund's portfolio must be reinvested at market interest rates that are below the fund portfolio's current earnings rate or that of the original bond that generated the income. Credit riskThe risk that a security in the fund's portfolio will decline in price, or fail to make dividend or interest payments when due, because the security's issuer defaults or experiences a decline in its financial status. Securities falling lower in a company's capital structure and/or unrated securities and securities with lower credit ratings are expected to have higher credit risk. See subordination. Common Stock RiskAlthough common stocks historically have generated higher average returns than other types of investments, common stocks also have experienced significantly more volatility in those returns. An adverse event, such as an unfavorable earnings report, may depress the value of a particular common stock held by the fund. Also, prices of common stocks are sensitive to general movements in the stock market and a drop in the stock market may depress the price of common stocks held by the fund or to which it has exposure. Mid-Cap Company RiskThe fund may invest in companies whose market capitalization is considered middle-sized or "mid-cap." Mid-cap companies often are newer or less established companies than larger capitalization companies. Investments in mid-cap companies carry additional risks because earnings of these companies tend to be less predictable; they often have limited product lines, markets, distribution channels or financial resources;. The market movements of equity securities of mid-cap companies may be more abrupt or erratic than the market movements of equity securities of larger, more established companies or the stock market in general. Dividend Income RiskA portion of the net investment income paid by the fund to its common shareholders is derived from dividends it receives from the common stocks held in the fund's portfolio Dividends on common stocks are not fixed and can vary significantly over the short term and long term.. There is no guarantee that the issuers of common stocks in which the fund invests will declare dividends in the future or that if declared they will remain at current levels or increase over time. Preferred Stock RiskPreferred stocks are subordinated to bonds and other debt instruments in a company's capital structure in terms of priority to corporate income and liquidation payments, and therefore will be subject to greater credit risk than those debt instruments. Certain preferred stocks contain provisions that allow an issuer under certain circumstances to skip distributions (in the case of "non-cumulative" preferred stocks) or defer distributions (in the case of "cumulative" preferred stocks). If the fund owns a preferred stock that is deferring its distributions, the fund may be required to report income for tax purposes while it is not receiving income from that stock. Preferred stocks typically do not provide any voting rights, except in cases when dividends are in arrears for a specified number of periods. Derivatives Strategy RiskDerivatives are financial instruments whose value changes in response to the changes in underlying investment variables. Derivative securities include, but are not limited to, calls, puts, warrants, swaps, and forwards. The fund's use of derivatives involves risks different from, and possibly greater than, the risks associated with the underlying investments. The derivatives market is largely unregulated. It is possible that developments in the derivatives market, including potential government regulation, could adversely affect the fund's ability to terminate existing contracts or to realize amounts to be received under such contracts. Call Option RisksThe value of call options sold (written) will be affected by, among other things, changes in the value of the securities or indices underlying the options and the remaining time to the options' expiration. The value of the call options also may decline if the market for the options becomes less liquid or smaller. When selling a call option, a fund creates the potential for a liability to the extent the asset(s) underlying the option appreciates to a level above the strike price. Therefore, a fund may not participate in any appreciation of its equity portfolio as fully as it would if the fund did not sell call options. In addition, the fund will continue to bear the risk of declines in the value of the equity portfolio that serves as collateral for the written options. The extent of a fund's exposure to call option risk will vary depending on the degree to which call options are written.
NOTES

1 The ratio of a fund's total managed assets to the sum of (the fund's outstanding preferred shares, at par, plus its outstanding borrowings).

Holdings and their ratings may change over time. Ratings shown are generally the highest rating given by one or more national rating agencies. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC/CC/C and D are below-investment grade ratings. Holdings designated “NR” are not rated by a national rating agency, and may be assigned an internal rating by the fund’s investment adviser.

* For the 28.77% of the portfolio invested in debt securities.

**The average earnings per share and UNII figures are monthly amounts based on three month averages for the municipal funds and senior loan funds and six month averages for all other taxable funds. For JRS and 25% of JDD, the average earnings per share represents net REIT cash flow which may consist of income, capital gains and/or a return of capital.

† Percentage are relative to the 71.24% of the portfolio invested in equity securities.

†† Distribution rates represent the latest declared regular distribution, annualized, relative to the most recent daily market price and NAV.

‡ Relative to the fund's total managed assets.

Total return is determined by subtracting the initial investment from the redeemable value of the investment at the end of the investment period, dividing the remainder by the initial investment and expressing the result as a percentage. The calculation assumes that all fund distributions have been reinvested.