Nuveen Pennsylvania Dividend Advantage Municipal Fund 2 (NVY)

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Ticker: NVY

• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Activity signal Earnings

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NUVEEN ADVISORY CORP

Investment Adviser

1 sale — total 11,651 USD

Sale 7 Oct 2004

Value US$984,065.69 | Price 462.15 | Shares 47,781

NUVEEN ADVISORY CORP

Investment Adviser

1 sale — total 76,186 USD

Sale 6 Oct 2004

Value US$4,866,282.95 | Price 148.14 | Shares 89,579

NUVEEN ADVISORY CORP

Investment Adviser

1 sale — total 14,658 USD

Sale 5 Oct 2004

Value US$14,658.10 | Price 14.66 | Shares 1,000

Abbreviations B: Buy, S: Sell, PP: Planned purchase, PlS: Planned sale, PrS: Proposed sale, O: Option / Other

Notification date	Transaction date	B/S Transaction type	Insider and/or position	Nb. shares Price Value	Number of shares	Price	Value
2004-10-25	2004-10-07	S Sale	NUVEEN ADVISORY CORP Investment Adviser	47,781 +11.3% 462.15 US$984,066	47,781 +11.3%	462.15	US$984,066
2004-10-25	2004-10-06	S Sale	NUVEEN ADVISORY CORP Investment Adviser	89,579 +0.8% 148.14 US$4,866,283	89,579 +0.8%	148.14	US$4,866,283
2004-10-25	2004-10-05	S Sale	NUVEEN ADVISORY CORP Investment Adviser	30,850 +17.2% 136.47 US$4,676,200	30,850 +17.2%	136.47	US$4,676,200

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