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CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
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As independent public accountants, we hereby consent to the use of our report
dated July 18, 2000, and to all references to our firm included in or made a
part of this registration statement of Nuveen Flagship Multistate Trust III
(comprising the Nuveen Flagship Georgia Municipal Bond Fund, Nuveen Flagship
Louisiana Municipal Bond Fund, Nuveen Flagship North Carolina Municipal Bond
Fund and Nuveen Flagship Tennessee Municipal Bond Fund).
ARTHUR ANDERSEN LLP
Chicago, Illinois
September 26, 2000
