[NUVEEN INVESTMENTS LOGO]                           EXHIBIT 99.1


FOR IMMEDIATE RELEASE                               CONTACT:   CHRISTOPHER ALLEN
ATTN: BUSINESS/FINANCIAL EDITORS                    CHRISTOPHER.ALLEN@NUVEEN.COM
                                                                    312-917-8331

                                                                KATHLEEN CARDOZA
                                                     KATHLEEN.CARDOZA@NUVEEN.COM
                                                                    312-917-7813

   NUVEEN INVESTMENTS COMPLETES ACQUISITION OF SANTA BARBARA ASSET MANAGEMENT


CHICAGO, IL, OCTOBER 4, 2005 - Nuveen Investments, Inc. (NYSE: JNC), a leading
provider of diversified investment services, today announced that it has
completed the acquisition of Santa Barbara Asset Management, a manager of growth
stock portfolios for institutions and high-net-worth investors.

Santa Barbara, with approximately $3 billion in assets under management, was
founded in 1988, and is best known for its stable growth strategy - with an
outstanding long-term track record that has ranked in the top quartile of its
competitive peer set for the past one, three, five and ten years. Last year
Santa Barbara introduced a small- to mid-cap opportunistic growth portfolio as
well as a more recent high-dividend growth strategy.

"We are delighted to welcome Santa Barbara's high-caliber and highly respected
team into the Nuveen Investments family," said Nuveen's Chairman and CEO Tim
Schwertfeger. "The addition of Santa Barbara reinforces our commitment to
provide investors and the financial advisors who serve them with access to a
range of high-quality investment specialists. Santa Barbara's investment
solutions will expand our growth product line-up and complement our existing
Rittenhouse "blue chip" growth product - enabling us to offer growth investment
solutions across a broader capitalization range."

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 highly specialized investment teams, each with its own brand-name
and area of expertise: NWQ, specializing in value-style equities; Nuveen,
focused on fixed-income investments; Santa Barbara, committed to growth
equities; Rittenhouse, dedicated to "blue-chip" growth equities; and Symphony,
with expertise in alternative investments as well as equity and income
portfolios. Based on Nuveen Investments' assets under management at June 30,
2005, and the addition of Santa Barbara, the Company now manages approximately
$127 billion in assets. Nuveen Investments is listed on The New York Stock
Exchange and trades under the symbol "JNC."


Certain statements made by the Company in this release are forward-looking
statements. The Company's actual future results may differ significantly from
those anticipated in any forward-looking statements due to numerous factors.
These include, but are not limited to, the effects of the substantial
competition in the investment management business, including competition for
access to brokerage firms' retail distribution systems, the Company's reliance
on revenues from investment management contracts which renew annually,
regulatory developments, accounting pronouncements, and other additional risks
and uncertainties as set forth in the Company's filings with the SEC. The
Company undertakes no responsibility to update publicly or revise any
forward-looking statements.