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                           NUVEEN PROXY SOLICITATION
                        Proxy Solicitation Phone Script

PURPOSE OF CALL: TO CONTACT SHAREHOLDERS WHO WERE SENT PROXY INFORMATION, STATE 
THE IMPORTANCE OF VOTING, AND EMPHASIZE THAT THEIR BALLOT MUST BE RECEIVED 
BEFORE NOVEMBER 12, 1998.

1.    Hello, Mr./Mrs. {shareholder last name}.  My name is {rep's name}.  I am 
      calling on behalf of the Flagship Utility Income Fund regarding the 
      upcoming shareholder meeting on November 12, 1998.  Do you have a moment?

2.    HAVE YOU RECEIVED PROXY MATERIAL REGARDING THE SHAREHOLDER MEETING?

- -     IF NO:
               (Confirm current address and arrange to have a duplicate set of 
               material mailed to the shareholder.)  If you have any questions 
               or need assistance once you receive the material, please call us 
               at 1-800-257-8787.

- -     IF YES:  HAVE YOU HAD A CHANCE TO REVIEW THE MATERIAL?

IF NO:         (Briefly explain the proposals to be discussed at the meeting, 
               and the Board's recommendation for voting on the proposals.)  
               THE BOARD UNANIMOUSLY RECOMMENDS A VOTE IN FAVOR OF ALL 
               PROPOSALS.  Suggest that the shareholder read through the 
               materials, and vote by returning the proxy card in the envelope 
               provided.  If you have any questions or need assistance please 
               call us at 1-800-257-8787.

IF YES:        DO YOU HAVE ANY QUESTIONS?

- -     IF YES:
               Answer questions using only the proxy solicitation materials.  
               After answering all questions, inform the shareholder that 
               he/she may vote by signing, dating and mailing the proxy card in 
               the envelope provided.  (REMIND THE SHAREHOLDER THAT THEIR VOTE 
               MUST BE RECEIVED BY THE MEETING DATE, NOVEMBER 12, 1998.  IN 
               ORDER TO AVOID ANY DELAYS, THEY SHOULD VOTE THEIR PROXY AS SOON 
               AS THEY HAVE READ THE MATERIAL.)  Thank the shareholder and end 
               the call.

- -     IF NO:
               Regardless of the size of your holdings, your vote is 
               important.  Please take the time to vote by signing, dating, and 
               returning your proxy card in the envelope provided.  (REMIND THE 
               SHAREHOLDER THAT THEIR VOTE MUST BE RECEIVED BY THE MEETING 
               DATE, NOVEMBER 12, 1998.  IN ORDER TO AVOID ANY DELAYS, THEY 
               SHOULD VOTE THEIR PROXY AS SOON AS THEY HAVE READ THE 
               MATERIAL.)  Thank the shareholder and end the call.
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                           NUVEEN PROXY SOLICITATION
           INSTRUCTIONS FOR LEAVING A MESSAGE ON AN ANSWERING MACHINE



Hello, my name is [rep's name].  I am calling on behalf of the Flagship Utility 
Income Fund in regard to it's upcoming shareholder meeting on November 12, 
1998.  Your vote is important.  At your earliest convenience please sign, date 
and mail the proxy card in the return envelope provided.  If you have not 
received your proxy materials, or have questions or need assistance, please 
call us at 1-800-257-8787.