<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>ltraudit903.txt
<TEXT>


Report of Independent Auditors

The 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 year ended September 30, 2003, 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 accounting
principles generally accepted in the United States. 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
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
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, 2003.

This report is intended solely for the information and
use of management and the Board of Directors/Trustees
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, 2003

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
Nuveen Insured New York Dividend Advantage
Municipal Fund
Nuveen Insured New York Tax-Free Advantage
Municipal Fund







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