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Supplement Dated April 1, 1999 to the
Prospectus Dated April 28, 1998 of
NUVEEN TAX-EXEMPT MONEY MARKET FUND, INC.
and the
Prospectuses Dated June 24, 1998 of
NUVEEN TAX-FREE RESERVES, INC.
NUVEEN CALIFORNIA TAX-FREE MONEY MARKET FUND
(a series of Nuveen California Tax-Free Fund, Inc.)
NUVEEN NEW YORK TAX-FREE MONEY MARKET FUND
(a series of Nuveen Tax-Free Money Market Fund, Inc.)
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This supplement provides new and additional information beyond that contained
in the Prospectus and should be read in conjunction with the Prospectus.
Effective April 1, 1999, each of the above-named funds has purchased liability
insurance against a decline in the value of the fund's portfolio caused by the
default of securities owned by the fund. The insurance covers substantially
all of the funds' investments except U.S. government securities. The maximum
total coverage for all Nuveen money market funds is $50 million, with certain
deductibles for each loss. The funds pay the policy premiums. Coverage under
the policy is subject to certain conditions and may not be renewable upon
expiration. While the policy is intended to provide some protection against
credit risk and to help the fund maintain a constant price per share of $1.00,
there is no guarantee that the insurance will do so. This policy replaces the
similar insurance policy from MBIA Insurance Corp. described under "Investment
Policies" (or "Portfolio investments", in the case of Nuveen Tax-Exempt Money
Market Fund, Inc.) in the Prospectus.
PLEASE RETAIN FOR FUTURE REFERENCE
VGN-S-MMF 4-1-99
