The MLP & Strategic Equity Fund Inc. (NYSE:MTP) today announced that the net asset value (NAV) recorded at close of business yesterday, October 20th, reflected an erroneous distribution payable amount deducted from the fund's net asset value as the fund provided for its upcoming distribution, declared on October 8th and payable on October 29th. The dividend amount declared was $0.07 per share; the amount incorrectly recorded on the fund's books was $0.70 per share. The difference of $0.63 per share has been corrected today, and the correct NAV for October 20th of $17.40 per share has been communicated to major financial data providers.

NAV as reported as
of 10/19/2010

  

Portfolio appreciation on
10/20/2010

   Incorrectly
Recorded distribution		  

Incorrect NAV as of
10/20/2010

  

Correction to reconcile
to correct distribution

  

Correct NAV as of
10/20/2010

$17.33   + $0.14   ($0.70)   $16.77   + $0.63   $17.40

The following dates, as announced on October 8th, 2010, continue to apply to the fund's distribution:

Record Date

       October 22, 2010

Ex-Dividend Date

 October 20, 2010

Payable Date

 October 29, 2010

Dividend Amount

 $0.07 per share

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 more than $160 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