NUVEEN MULTISTATE TRUST III
RENEWAL OF INVESTMENT MANAGEMENT AGREEMENT
This Agreement made this 15/th/ day of May, 2003 by and between Nuveen
Multistate Trust III, a Massachusetts business trust (the "Fund"), and Nuveen
Advisory Corp., a Delaware corporation (the "Adviser");
WHEREAS, the parties hereFto are the contracting parties under that certain
Investment Management Agreement (the "Agreement") pursuant to which the Adviser
furnishes investment management and other services to the Fund; and
WHEREAS, the Agreement terminates July 1, 2003 unless continued in the manner
required by the Investment Company Act of 1940; and
WHEREAS, the Board of Trustees, at a meeting called for the purpose of reviewing
the Agreement, have approved the Agreement and its continuance until July 1,
2004 in the manner required by the Investment Company Act of 1940.
NOW THEREFORE, in consideration of the mutual covenants contained in the
Agreement the parties hereto do hereby continue the Agreement in effect until
July 1, 2004 and ratify and confirm the Agreement in all respects.
NUVEEN MULTISTATE TRUST III
By: /s/ Xxxxxxx X. Xxxxxxx
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Vice President
ATTEST:
/s/ Xxxxxxxx X. X'Xxxx
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Assistant Secretary
NUVEEN ADVISORY CORP.
By: /s/ Xxxxxxx X. Xxxxxxxxxx
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Managing Director
ATTEST:
/s/ Xxxxx X. Xxxxxx
--------------------------------
Assistant Secretary
