CITIGROUP INC — Director's Dealing 2011

May 31, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NUVEEN PREMIUM INCOME MUNICIPAL FUND 2 INC (NPM)
CIK: 0000885734
Period of Report: 2011-05-26

Reporting Person: CITIGROUP INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-26	Auction Rate Preferred	J	500	$25000.44	Disposed	1650	Indirect
2011-05-26	Auction Rate Preferred	J	967	$25000.66	Disposed	683	Indirect
2011-05-27	Auction Rate Preferred	J	334	$25000.44	Disposed	349	Indirect
2011-05-31	Auction Rate Preferred	J	174	$25000.00	Disposed	175	Indirect

Footnotes

F1: These Auction Preferred Shares ("Shares") were called for redemption by the issuer.

F2: The Shares reported in Table I represent Shares beneficially owned by Citigroup Global Markets Inc. ("CGMI"). Citigroup Financial Products Inc. ("CFP") is the sole stockholder of CGMI. Citigroup Global Markets Holdings Inc. ("CGMH") is the sole stockholder of CFP. Citigroup Inc. is the sole stockholder of CGMH.