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Supplement Dated October 29, 1999 to the
Statement of Additional Information Dated September 29, 1999
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NUVEEN FLAGSHIP MULTISTATE TRUST I
Nuveen Flagship Arizona Municipal Bond Fund
Nuveen Flagship Colorado Municipal Bond Fund
Nuveen Flagship Florida Municipal Bond Fund
Nuveen Maryland Municipal Bond Fund
Nuveen Flagship New Mexico Municipal Bond Fund
Nuveen Flagship Pennsylvania Municipal Bond Fund
Nuveen Flagship Virginia Municipal Bond Fund
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Effective October 29, 1999, the following are changes relating to the
purchase of shares of the Funds.
1. The first and fourth bullet points in the section entitled "Reduction or
Elimination of Up-Front Sales Charge on Class A Shares" are revised as follows:
Class A Shares of a Fund may be purchased at net asset value without a sales
charge, and may be purchased by the following categories of investors:
. investors purchasing $1.0 million or more. Nuveen may pay Authorized
Dealers on Class A sales of $1.0 million and above up to an additional
0.25% of the purchase amount.
. any eligible employer-sponsored qualified defined contribution retirement
plan. Eligible plans are those with at least 25 employees and that either
(a) make an initial purchase of one or more Nuveen Mutual Funds
aggregating $500,000 or more or (b) execute a Letter of Intent to
purchase in the aggregate $500,000 or more of fund shares. Nuveen will
pay Authorized Dealers a sales commission on these purchases equal to 1%
of the first $2.5 million, plus 0.50% of the next $2.5 million, plus .25%
of any amount purchased over $5.0 million. For this category of investors
a contingent deferred sales charge of 1% will be assessed on redemptions
within 18 months of purchase, unless waived. Municipal bond funds are not
a suitable investment for individuals investing in retirement plans.
2. The Group Purchase Program requirements have been modified. The minimum
initial investment in Class A Shares of a Fund or portfolio for each
participant is $50 provided that the group invests at least $3,000 in the Fund,
and the minimum monthly investment in Class A Shares of the Fund or portfolio
by each participant in the program is $50.
3. Class R Shares are available for single purchases of $10 million or more and
for purchases using dividends and capital gains distributions on Class R
Shares. Class R Shares also are available for purchases by any officer,
director or bona fide employee of any investment advisory partner of Nuveen
that provides sub-advisory services for a Nuveen product, or their immediate
family members.
PLEASE RETAIN FOR FUTURE REFERENCE
