<PAGE>
SUPPLEMENT DATED JANUARY 11, 1999
TO THE PROSPECTUS DATED NOVEMBER 27, 1998
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NUVEEN INVESTMENT TRUST II
Nuveen Rittenhouse Growth Fund
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As of January 11, 1999, Nuveen is making the following changes relating to
the purchase of Class A shares of the fund:
1. The fund has adopted a uniform Class A sales charge schedule, as
follows:
<TABLE>
<CAPTION>
SALES CHARGE AS SALES CHARGE AS AUTHORIZED DEALER
% OF PUBLIC % OF NET AMOUNT COMMISSION AS % OF
AMOUNT OF PURCHASE OFFERING PRICE INVESTED PUBLIC OFFERING PRICE
------------------ --------------- --------------- ---------------------
<S> <C> <C> <C>
Less than $50,000....... 5.75% 6.10% 5.00%
$50,000 but less than
$100,000............... 4.50% 4.71% 4.00%
$100,000 but less than
$250,000............... 3.75% 3.90% 3.25%
$250,000 but less than
$500,000............... 2.75% 2.83% 2.50%
$500,000 but less than
$1,000,000............. 2.00% 2.04% 1.75%
$1,000,000 and over..... * * 1.00%*
</TABLE>
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* You can buy $1 million or more of Class A shares at net asset value
without an up-front sales charge. If you redeem your shares within 18
months of purchase, you may have to pay a CDSC of 1% of either your
purchase price or redemption proceeds, whichever is lower.
2. The ability to purchase Class A shares at net asset value without a
sales charge using redemption proceeds from funds unaffiliated with Nuveen
has been eliminated. The other methods of eliminating the Class A sales
charge described under "How to Reduce Your Sales Charge" in the fund's
prospectus will continue to be available.
PLEASE KEEP THIS WITH YOUR FUND PROSPECTUS FOR FUTURE REFERENCE
<PAGE>
SUPPLEMENT DATED JANUARY 11, 1999 TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED NOVEMBER 27, 1998
----------------
NUVEEN INVESTMENT TRUST II
Nuveen Rittenhouse Growth Fund
----------------
As of January 11, 1999, Nuveen is making the following changes relating to
the purchase of shares of the fund:
1. The maximum up-front sales charge for purchases of Class A shares of
the fund will be 5.75% of the public offering price.
2. The initial minimum investment for a systematic investment plan has
been lowered from $3,000 to $50 per share class per fund.
3. 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.
4. The ability to purchase load-waived Class A shares using redemption
proceeds from funds unaffiliated with Nuveen has been eliminated.
5. 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
