Nuveen Investments
Nuveen Quality Preferred Income Fund 2 (NYSE: JPS)
 Glossary
ASSET ALLOCATION As of 05/28/2010

Total may not add up to 100% due to rounding.

FUND CHARACTERISTICS
As of 5/28/2010 
# of Holdings 161
% Foreign Holdings ‡31.28%
% Large, Mid, Small Cap †0.0%,0.0%,100.0%
Avg. Coupon *7.66%
Avg. Maturity (years) *35.84
CALL EXPOSURE * As of 05/28/2010
CREDIT QUALITY *,¶ As of 05/28/2010

Holdings and their ratings may change over time. Ratings shown are 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.

MATURITY BREAKDOWN * As of 05/28/2010
TOP 10 ISSUERS
As of 05/28/2010 View All Holdings
Issuer% Portfolio
Wells Fargo and Com: Debt
4.99%
Deutsche Bank AG: Debt
3.00%
Credit Agricole S.A: Debt
2.98%
Vodafone Group Publ: Debt
2.70%
Aegon NV: Debt
2.43%
Rabobank Nederland: Debt
2.40%
AgFirst Farm Credit: Debt
2.31%
ING Groep NV: Debt
2.27%
Comcast Corporation: Equity
2.21%
Vornado Realty Trus: Debt
2.20%
TOP 5 INDUSTRIES
As of 05/28/2010
Industry% Portfolio
Commercial Banks
27.41%
Insurance
26.04%
Real Estate Investment Trust
13.87%
Media
5.88%
Diversified Financial Services
5.27%

Holdings may vary and are subject to change without notice.

Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Past performance is no guarantee of future results.

Holdings of inverse floating rate securities show the amount of the residual inverse floater, and not the amount of the underlying bond and an associated liability to the holder of the associated floating rate security, and therefore this presentation may not be fully consistent with generally accepted accounting principals.

Fund data is updated daily, monthly, and quarterly, depending on the specific data point. Click HERE for the update schedule.

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.Leverage RiskThe fund's use of leverage creates the possibility of higher volatility for the fund's per share NAV, market price, and distributions. Leverage risk can be introduced through structural leverage (issuing preferred shares or debt borrowings at the fund level) or through certain derivative investments held in the fund's portfolio. Leverage typically magnifies the total return of a fund's portfolio, whether that return is positive or negative. The use of leverage creates an opportunity for increased common share net income, but there is no assurance that a fund's leveraging strategy will be successful.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.
NOTES

† Percentage are relative to the 2.85% of the portfolio invested in equity securities.

‡ Relative to the fund's total managed assets.

* For the 97.14% of the portfolio invested in debt securities.

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