<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>auditltr904.txt
<TEXT>


Report of Independent Registered Public Accounting
Firm

To the Shareholders and Board of Trustees
Nuveen Exchange-Traded Funds

In planning and performing our audit of the financial
statements of each of the Nuveen Exchange-Traded
Funds listed in Exhibit A attached hereto (the Funds) for
the period ended September 30, 2004, we considered
their internal control, including control activities for
safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with
the requirements of Form N-SAR, not to provide
assurance on internal control.

The management of the Funds is responsible for
establishing and maintaining internal control.  In
fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits
and related costs of controls. Generally, controls that are
relevant to an audit pertain to the entitys objective of
preparing financial statements for external purposes that
are fairly presented in conformity with U.S. generally
accepted accounting principles. Those controls include
the safeguarding of assets against unauthorized
acquisition, use, or disposition.

Because of inherent limitations in internal control, error
or fraud may occur and not be detected. Also, projection
of any evaluation of internal control to future periods is
subject to the risk that it may become inadequate
because of changes in conditions or that the
effectiveness of the design and operation may
deteriorate.

Our consideration of internal control would not
necessarily disclose all matters in internal control that
might be material weaknesses under standards of the
Public Company Accounting Oversight Board (United
States). A material weakness is a condition in which the
design or operation of one or more of the internal
control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud
in amounts that would be material in relation to the

financial statements being audited may occur and not be
detected within a timely period by employees in the
normal course of performing their assigned functions.
However, we noted no matters involving internal control
and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as
defined above as of September 30, 2004.

This report is intended solely for the information and
use of management and the Board of Trustees of the
Funds and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone
other than these specified parties.




/s/ ERNST & YOUNG LLP


Chicago, Illinois
November 12, 2004

Exhibit A

Nuveen New York Municipal Value Fund, Inc.

Nuveen New York Performance Plus Municipal Fund,
Inc.

Nuveen New York Dividend Advantage Municipal
Fund

Nuveen New York Dividend Advantage Municipal
Fund 2

Nuveen New York Investment Quality Municipal Fund,
Inc.

Nuveen New York Select Quality Municipal Fund, Inc.

Nuveen New York Quality Income Municipal Fund,
Inc.

Nuveen Insured New York Premium Income Municipal
Fund, Inc.

Nuveen Insured New York Dividend Advantage
Municipal Fund

Nuveen Insured New York Tax-Free Advantage
Municipal Fund


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