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SUPPLEMENT DATED JANUARY 11, 1999 TO THE
PROSPECTUS DATED AUGUST 28, 1998
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NUVEEN FLAGSHIP MUNICIPAL TRUST
Nuveen Municipal Bond Fund
Nuveen Insured Municipal Bond Fund
Nuveen Flagship All-American Municipal Bond Fund
Nuveen Flagship Intermediate Municipal Bond Fund
Nuveen Flagship Limited Term Municipal Bond Fund
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Nuveen is modifying the ways you can eliminate paying a sales charge when
purchasing Class A shares of the funds. As of January 11, 1999, you will no
longer be able to purchase Class A shares at net asset value without a sales
charge using redemption proceeds from funds unaffiliated with Nuveen. The
other methods of eliminating the Class A sales charge described under "How to
Reduce Your Sales Charge" in each fund's prospectus will continue to be
available.
PLEASE KEEP THIS WITH YOUR FUND PROSPECTUS FOR FUTURE REFERENCE
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SUPPLEMENT DATED JANUARY 11, 1999 TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED AUGUST 28, 1998
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NUVEEN FLAGSHIP MUNICIPAL TRUST
Nuveen Municipal Bond Fund
Nuveen Insured Municipal Bond Fund
Nuveen Flagship All-American Municipal Bond Fund
Nuveen Flagship Intermediate Municipal Bond Fund
Nuveen Flagship Limited Term Municipal Bond Fund
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As of January 11, 1999, Nuveen is making the following changes relating to
the purchase of shares of the funds.
1. The initial minimum investment for a systematic investment plan has been
lowered from $3,000 to $50 per share class per fund.
2. For purposes of purchasing shares through a group purchase program, the
initial minimum investment for each participant will be lowered from $3,000 to
$50 per share class per fund, provided that the group initially invests at
least $3,000 in the fund.
3. The ability to purchase load-waived Class A shares using redemption
proceeds from funds unaffiliated with Nuveen has been eliminated.
4. Investors will be able to buy Class A shares at net asset value without a
sales charge by using the proceeds of sales of Nuveen Exchange-Traded fund
shares or the termination/maturity proceeds from Nuveen Defined Portfolios
(formerly Nuveen Unit Trusts). You must provide Nuveen appropriate
documentation that the fund sale or Defined Portfolio termination/maturity
occurred not more than one year prior to reinvestment. In addition, investors
also may buy Class A shares at net asset value without a sales charge by
directing their monthly dividends from Nuveen Exchange-Traded funds.
PLEASE RETAIN FOR FUTURE REFERENCE
