<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>nanltr901.txt
<TEXT>


REPORT OF
INDEPENDENT
AUDITORS


The Board of Directors and 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 year ended September 30, 2001, we considered
its internal control, including control activities for
safeguarding securities, 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, and 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 internal control. Generally, internal
controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for
external purposes that are fairly presented in conformity
with generally accepted accounting principles.  Those
internal controls include the safeguarding of assets
against unauthorized acquisition, use, or disposition.


Because of inherent limitations in any internal control,
misstatements due to errors or fraud may occur and not
be detected.  Also, projections of any evaluation of
internal control to future periods are subject to the risk
that internal control may become inadequate because of
changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.

Our consideration of internal control would not
necessarily disclose all matters in internal control that
might be material weaknesses under standards
established by the American Institute of Certified Public
Accountants. A material weakness is a condition in
which the design or operation of one or more of the
specific internal control components does not reduce to
a relatively low level the risk that errors 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, including control activities for safeguarding
securities, and its operation that we consider to be
material weaknesses as defined above as of September
30, 2001.


This report is intended solely for the information and
use of the Board of Directors and Trustees and
management of the Nuveen Exchange-Traded 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 15, 2001

Exhibit A


Nuveen New York Municipal Value Fund, Inc.
Nuveen New York Performance Plus Municipal
Fund, Inc.
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 New York Dividend Advantage Municipal
Fund
Nuveen New York Dividend Advantage Municipal
Fund 2







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