UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21619

Nuveen Equity Premium Income Fund

(Exact name of registrant as specified in charter)

     333 West Wacker Drive, Chicago, Illinois 60606     
(Address of principal executive offices) (Zip code)

Kevin J. McCarthy—Vice President and Secretary
     333 West Wacker Drive, Chicago, Illinois 60606     
(Name and address of agent for service)

Registrant’s telephone number, including area code:      312-917-7700     

Date of fiscal year end:        12/31      

Date of reporting period:    9/30/2008   

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

TABLE OF CONTENTS

	Item 1. Schedule of Investments
	Item 2. Controls and Procedures
	Item 3. Exhibits
SIGNATURES
EX-99.CERT

Item 1. Schedule of Investments

Portfolio of Investments (Unaudited)

Nuveen Equity Premium Income Fund (JPZ)
September 30, 2008

Shares			Description (1)				Value
			Common Stocks – 97.2%
			Aerospace & Defense – 2.5%
	71,400		Boeing Company				$	4,094,790
	100,000		Honeywell International Inc.					4,155,000
	32,182		Raytheon Company					1,722,059
	89,400		United Technologies Corporation					5,369,364
			Total Aerospace & Defense					15,341,213
			Air Freight & Logistics – 0.3%
	35,213		United Parcel Service, Inc., Class B					2,214,546
			Airlines – 0.2%
	84,350		AMR Corporation, (2)					828,317
	19,134		Continental Airlines, Inc., (2)					319,155
			Total Airlines					1,147,472
			Auto Components – 0.1%
	21,000		American Axle and Manufacturing Holdings Inc.					112,560
	30,296		Cooper Tire & Rubber					260,546
			Total Auto Components					373,106
			Automobiles – 0.4%
	204,000		Ford Motor Company, (2)					1,060,800
	110,142		General Motors Corporation					1,040,842
	4,000		Harley-Davidson, Inc.					149,200
			Total Automobiles					2,250,842
			Beverages – 1.7%
	111,103		Coca-Cola Company					5,875,127
	67,177		PepsiCo, Inc.					4,787,705
			Total Beverages					10,662,832
			Biotechnology – 1.4%
	50,643		Amgen Inc., (2)					3,001,611
	21,483		Celgene Corporation, (2)					1,359,444
	15,495		Genentech, Inc., (2)					1,374,097
	63,427		Gilead Sciences, Inc., (2)					2,891,003
			Total Biotechnology					8,626,155
			Building Products – 0.1%
	42,748		Masco Corporation					766,899
			Capital Markets – 3.0%
	63,332		Charles Schwab Corporation					1,646,632
	22,938		Goldman Sachs Group, Inc.					2,936,064
	48,534		Jefferies Group, Inc.					1,087,162
	177,861		JPMorgan Chase & Co.					8,306,109
	19,500		Legg Mason, Inc.					742,170
	26,500		Merrill Lynch & Co., Inc.					670,450
	72,595		Morgan Stanley					1,669,685
	59,400		Waddell & Reed Financial, Inc., Class A					1,470,150
			Total Capital Markets					18,528,422
			Chemicals – 2.3%
	51,511		Dow Chemical Company					1,637,020
	145,006		E.I. Du Pont de Nemours and Company					5,843,742
	40,400		Eastman Chemical Company					2,224,424
	42,998		Lubrizol Corporation					1,854,934
	19,000		NL Industries Inc.					195,130
	53,293		Olin Corporation					1,033,884
	2,438		Potash Corporation of Saskatchewan					321,840
	63,622		RPM International, Inc.					1,230,449
			Total Chemicals					14,341,423
			Commercial Banks – 5.5%
	360,185		Bank of America Corporation					12,606,475
	35,262		Comerica Incorporated					1,156,241
	51,540		HSBC Holdings PLC, Sponsored ADR					4,165,978
	47,788		Lloyds TSB Group PLC, Sponsored ADR					799,493
	3,281		Toronto-Dominion Bank					200,108
	39,483		TrustCo Bank Corporation NY					462,346
	175,092		U.S. Bancorp					6,306,814
	171,570		Wachovia Corporation					600,495
	190,533		Wells Fargo & Company					7,150,703
			Total Commercial Banks					33,448,653
			Commercial Services & Supplies – 1.0%
	3,800		Avery Dennison Corporation					169,024
	90,141		Deluxe Corporation					1,297,129
	3,809		Manpower Inc.					164,396
	23,000		Pitney Bowes Inc.					764,980
	6,100		Priceline.com Incorporated, (2)					417,423
	8,500		R.R. Donnelley & Sons Company					208,505
	42,509		Resources Connection, Inc., (2)					957,728
	65,838		Waste Management, Inc.					2,073,239
			Total Commercial Services & Supplies					6,052,424
			Communications Equipment – 2.4%
	18,403		ADTRAN, Inc.					358,674
	8,994		Ciena Corporation, (2)					90,660
	313,802		Cisco Systems, Inc., (2)					7,079,373
	61,398		Corning Incorporated					960,265
	11,875		JDS Uniphase Corporation, (2)					100,463
	148,402		Motorola, Inc.					1,059,590
	108,408		QUALCOMM Inc.					4,658,292
	8,004		Research In Motion Limited, (2)					546,673
			Total Communications Equipment					14,853,990
			Computers & Peripherals – 4.1%
	57,273		Apple, Inc., (2)					6,509,649
	98,707		Dell Inc., (2)					1,626,691
	94,079		EMC Corporation, (2)					1,125,185
	133,549		Hewlett-Packard Company					6,175,306
	77,871		International Business Machines Corporation (IBM)					9,107,792
	10,613		McAfee Inc., (2)					360,417
	33,400		Sun Microsystems Inc., (2)					253,840
			Total Computers & Peripherals					25,158,880
			Consumer Finance – 0.3%
	67,197		Capitalsource Inc.					826,523
	12,636		Discover Financial Services					174,630
	5,500		MasterCard, Inc.					975,315
			Total Consumer Finance					1,976,468
			Containers & Packaging – 0.7%
	65,543		Packaging Corp. of America					1,519,287
	87,335		Sonoco Products Company					2,592,103
			Total Containers & Packaging					4,111,390
			Diversified Financial Services – 1.7%
	289,785		Citigroup Inc.					5,943,490
	8,700		CME Group, Inc.					3,232,137
	30,707		New York Stock Exchange Euronext					1,203,100
			Total Diversified Financial Services					10,378,727
			Diversified Telecommunication Services – 3.6%
	561,150		AT&T Inc.					15,667,307
	2,019		FairPoint Communications Inc.					17,505
	216,168		Frontier Communications Corporation					2,485,932
	107,951		Verizon Communications Inc.					3,464,148
	20,804		Windstream Corporation					227,596
			Total Diversified Telecommunication Services					21,862,488
			Electric Utilities – 1.6%
	30,527		Ameren Corporation					1,191,469
	34,781		Consolidated Edison, Inc.					1,494,192
	26,923		Great Plains Energy Incorporated					598,229
	60,787		OGE Energy Corp.					1,877,103
	80,800		Pepco Holdings, Inc.					1,851,128
	33,573		Progress Energy, Inc.					1,448,003
	32,712		Southern Company					1,232,915
			Total Electric Utilities					9,693,039
			Electrical Equipment – 0.9%
	122,241		Emerson Electric Company					4,986,210
	14,000		Rockwell Automation, Inc.					522,760
			Total Electrical Equipment					5,508,970
			Electronic Equipment & Instruments – 0.0%
	4,194		Garmin Limited					142,344
			Energy Equipment & Services – 2.9%
	22,287		Diamond Offshore Drilling, Inc.					2,296,898
	24,817		ENSCO International Incorporated					1,430,204
	112,366		Halliburton Company					3,639,535
	30,468		Patterson-UTI Energy, Inc.					609,969
	81,576		Schlumberger Limited					6,370,270
	18,961		Smith International, Inc.					1,111,873
	46,500		Tidewater Inc.					2,574,240
			Total Energy Equipment & Services					18,032,989
			Food & Staples Retailing – 1.7%
	22,609		Costco Wholesale Corporation					1,468,002
	73,891		CVS Caremark Corporation					2,487,171
	38,696		SUPERVALU INC.					839,703
	97,241		Wal-Mart Stores, Inc.					5,823,763
			Total Food & Staples Retailing					10,618,639
			Food Products – 1.5%
	173,705		Kraft Foods Inc.					5,688,839
	30,912		Monsanto Company					3,059,670
	57,000		Sara Lee Corporation					719,910
			Total Food Products					9,468,419
			Gas Utilities – 1.0%
	28,977		AGL Resources Inc.					909,298
	62,810		Atmos Energy Corporation					1,672,002
	81,800		Nicor Inc.					3,627,830
			Total Gas Utilities					6,209,130
			Health Care Equipment & Supplies – 1.1%
	54,691		Baxter International Inc.					3,589,370
	15,916		Hologic Inc., (2)					307,656
	3,415		Intuitive Surgical, Inc., (2)					822,947
	35,536		Medtronic, Inc.					1,780,354
			Total Health Care Equipment & Supplies					6,500,327
			Health Care Providers & Services – 1.3%
	33,767		Brookdale Senior Living Inc.					742,536
	15,450		Coventry Health Care, Inc., (2)					502,898
	6,787		Henry Schein Inc., (2)					365,412
	83,690		Kindred Healthcare Inc., (2)					2,307,333
	6,700		Mentor Corporation					159,862
	88,646		UnitedHealth Group Incorporated					2,250,722
	28,558		Wellpoint Inc., (2)					1,335,658
			Total Health Care Providers & Services					7,664,421
			Health Care Technology – 0.0%
	5,583		Cerner Corporation, (2)					249,225
			Hotels, Restaurants & Leisure – 1.0%
	17,000		Carnival Corporation					600,950
	22,661		International Game Technology					389,316
	3,272		Interval Leisure Group Inc., (2)					34,029
	87,661		McDonald’s Corporation					5,408,684
			Total Hotels, Restaurants & Leisure					6,432,979
			Household Durables – 1.5%
	4,100		Black & Decker Corporation					249,075
	106,577		Newell Rubbermaid Inc.					1,839,519
	12,400		Snap-on Incorporated					652,984
	25,600		Stanley Works					1,068,544
	105,743		Tupperware Corporation					2,921,679
	29,254		Whirlpool Corporation					2,319,550
			Total Household Durables					9,051,351
			Household Products – 3.1%
	53,200		Colgate-Palmolive Company					4,008,620
	22,833		Kimberly-Clark Corporation					1,480,492
	193,245		Procter & Gamble Company					13,467,243
			Total Household Products					18,956,355
			Industrial Conglomerates – 3.2%
	7,126		3M Co.					486,777
	656,066		General Electric Company					16,729,682
	52,800		Genuine Parts Company					2,123,088
	4,702		Siemens AG, Sponsored ADR					441,471
			Total Industrial Conglomerates					19,781,018
			Insurance – 2.5%
	36,800		Allstate Corporation					1,697,216
	158,387		American International Group, Inc.					527,429
	24,591		Arthur J. Gallagher & Co.					631,005
	208,366		Fidelity National Title Group Inc., Class A					3,062,980
	12,500		Hartford Financial Services Group, Inc.					512,375
	80,283		Lincoln National Corporation					3,436,915
	72,500		Marsh & McLennan Companies, Inc.					2,302,600
	46,000		Travelers Companies, Inc.					2,079,200
	52,700		Unitrin, Inc.					1,314,338
			Total Insurance					15,564,058
			Internet & Catalog Retail – 0.4%
	28,202		Amazon.com, Inc., (2)					2,051,978
	3,272		Hosting Site Network, Inc., (2)					36,025
	8,182		IAC/InterActiveCorp., (2)					141,549
	3,272		Ticketmaster Online-Citysearch, Inc., (2)					35,109
			Total Internet & Catalog Retail					2,264,661
			Internet Software & Services – 1.9%
	69,632		eBay Inc., (2)					1,558,364
	17,417		Google Inc., Class A, (2)					6,975,857
	158,937		United Online, Inc.					1,495,597
	78,555		Yahoo! Inc., (2)					1,359,002
			Total Internet Software & Services					11,388,820
			IT Services – 0.9%
	65,915		Automatic Data Processing, Inc.					2,817,866
	6,564		Fidelity National Information Services					121,171
	3,197		Lender Processing Services Inc.					97,572
	62,662		Paychex, Inc.					2,069,726
	34,100		Standard Register Company					335,885
			Total IT Services					5,442,220
			Leisure Equipment & Products – 0.2%
	39,513		Eastman Kodak Company					607,710
	7,900		Polaris Industries Inc.					359,371
			Total Leisure Equipment & Products					967,081
			Machinery – 2.0%
	75,600		Caterpillar Inc.					4,505,760
	7,568		Cummins Inc.					330,873
	21,219		Deere & Company					1,050,341
	13,600		Graco Inc.					484,296
	16,555		Ingersoll Rand Company Limited, Class A					516,019
	9,750		Parker Hannifin Corporation					516,750
	57,827		SPX Corporation					4,452,679
	12,000		Timken Company					340,200
			Total Machinery					12,196,918
			Media – 1.5%
	44,982		CBS Corporation, Class B					655,838
	127,812		Comcast Corporation, Class A					2,508,950
	39,613		New York Times, Class A					566,070
	26,741		Omnicom Group Inc.					1,031,133
	182,679		Regal Entertainment Group, Class A					2,882,675
	10,489		ValueClick, Inc., (2)					107,302
	40,885		Walt Disney Company					1,254,761
			Total Media					9,006,729
			Metals & Mining – 1.0%
	23,784		Alcoa Inc.					537,043
	28,800		CONSOL Energy Inc.					1,321,632
	32,000		Nucor Corporation					1,264,000
	170,410		Southern Copper Corporation					3,251,423
			Total Metals & Mining					6,374,098
			Multiline Retail – 0.9%
	13,000		Family Dollar Stores, Inc.					308,100
	38,002		Federated Department Stores, Inc.					683,276
	54,539		Nordstrom, Inc.					1,571,814
	8,700		Sears Holding Corporation, (2)					813,450
	41,660		Target Corporation					2,043,423
			Total Multiline Retail					5,420,063
			Multi-Utilities – 1.9%
	125,900		Duke Energy Corporation					2,194,437
	82,456		Integrys Energy Group, Inc.					4,117,853
	29,095		National Fuel Gas Company					1,227,227
	15,861		Northwestern Corporation					398,587
	49,251		ONEOK, Inc.					1,694,234
	64,378		Public Service Enterprise Group Incorporated					2,110,955
			Total Multi-Utilities					11,743,293
			Oil, Gas & Consumable Fuels – 9.7%
	13,525		BP PLC, Sponsored ADR					678,549
	167,900		Chevron Corporation					13,848,391
	67,832		ConocoPhillips					4,968,694
	14,859		Continental Resources Inc., (2)					582,919
	10,017		EnCana Corporation					658,417
	35,569		EOG Resources, Inc.					3,182,003
	408,353		Exxon Mobil Corporation					31,712,689
	43,228		Occidental Petroleum Corporation					3,045,413
	6,924		Suncor Energy, Inc.					291,777
	4,114		Total SA, Sponsored ADR					249,638
	12,921		Valero Energy Corporation					391,506
			Total Oil, Gas & Consumable Fuels					59,609,996
			Paper & Forest Products – 0.5%
	46,841		Weyerhaeuser Company					2,837,628
			Pharmaceuticals – 7.9%
	113,136		Abbott Laboratories					6,514,371
	245,602		Bristol-Myers Squibb Company					5,120,802
	64,787		Eli Lilly and Company					2,852,572
	17,216		GlaxoSmithKline PLC, Sponsored ADR					748,207
	181,508		Johnson & Johnson					12,574,874
	224,078		Merck & Co. Inc.					7,071,902
	464,896		Pfizer Inc.					8,572,682
	32,315		Sanofi-Aventis, Sponsored ADR					1,062,194
	80,878		Schering-Plough Corporation					1,493,817
	70,188		Wyeth					2,592,745
			Total Pharmaceuticals					48,604,166
			Real Estate Investment Trust – 2.3%
	83,301		Ashford Hospitality Trust Inc.					337,369
	46,493		Brandywine Realty Trust					745,283
	65,884		CapLease Inc.					522,460
	39,900		First Industrial Realty Trust, Inc.					1,144,332
	39,146		Glimcher Realty Trust					408,684
	21,000		Health Care REIT, Inc.					1,117,830
	49,761		Healthcare Realty Trust, Inc.					1,450,533
	96,015		Hospitality Properties Trust					1,970,228
	116,913		HRPT Properties Trust					805,531
	78,791		Lexington Corporate Properties Trust					1,356,781
	26,149		Liberty Property Trust					984,510
	17,263		Medical Properties Trust Inc.					195,935
	42,953		Nationwide Health Properties, Inc.					1,545,449
	27,000		Senior Housing Properties Trust					643,410
	11,215		Sun Communities Inc.					222,169
	61,650		U-Store-It Trust					756,446
			Total Real Estate Investment Trust					14,206,950
			Road & Rail – 0.7%
	20,459		Burlington Northern Santa Fe Corporation					1,891,025
	14,239		Norfolk Southern Corporation					942,764
	19,766		Union Pacific Corporation					1,406,549
			Total Road & Rail					4,240,338
			Semiconductors & Equipment – 2.2%
	26,657		Analog Devices, Inc.					702,412
	113,228		Applied Materials, Inc.					1,713,140
	46,600		Broadcom Corporation, Class A, (2)					868,158
	276,691		Intel Corporation					5,182,422
	16,140		Intersil Holding Corporation, Class A					267,601
	10,165		Lam Research Corporation, (2)					320,096
	44,326		Microchip Technology Incorporated					1,304,514
	24,800		National Semiconductor Corporation					426,808
	33,400		NVIDIA Corporation, (2)					357,714
	115,500		Texas Instruments Incorporated					2,483,250
			Total Semiconductors & Equipment					13,626,115
			Software – 3.8%
	48,441		Adobe Systems Incorporated, (2)					1,911,966
	17,598		Akamai Technologies, Inc., (2)					306,909
	15,237		Autodesk, Inc., (2)					511,201
	36,768		Cognizant Technology Solutions Corporation, Class A, (2)					839,413
	488,936		Microsoft Corporation					13,049,702
	259,505		Oracle Corporation, (2)					5,270,547
	10,500		Salesforce.com, Inc., (2)					508,200
	26,139		VeriSign, Inc., (2)					681,705
			Total Software					23,079,643
			Specialty Retail – 1.5%
	27,715		Abercrombie & Fitch Co., Class A					1,093,357
	46,762		American Eagle Outfitters, Inc.					713,121
	52,479		Best Buy Co., Inc.					1,967,963
	82,758		Home Depot, Inc.					2,142,605
	51,450		Limited Brands, Inc.					891,114
	55,524		Lowe’s Companies, Inc.					1,315,364
	5,000		Tiffany & Co.					177,600
	20,462		TJX Companies, Inc.					624,500
			Total Specialty Retail					8,925,624
			Textiles, Apparel & Luxury Goods – 0.4%
	14,359		Cherokee Inc.					315,611
	27,238		VF Corporation					2,105,770
			Total Textiles, Apparel & Luxury Goods					2,421,381
			Thrifts & Mortgage Finance – 0.2%
	60,610		New York Community Bancorp, Inc.					1,017,642
	545		Tree.com Inc., (2)					2,627
			Total Thrifts & Mortgage Finance					1,020,269
			Tobacco – 2.7%
	196,835		Altria Group, Inc.					3,905,206
	213,047		Philip Morris International					10,247,561
	31,534		Reynolds American Inc.					1,533,183
	37,952		Vector Group Ltd.					670,232
			Total Tobacco					16,356,182
			Wireless Telecommunication Services – 0.0%
	24,054		USA Mobility Inc., (2)					264,594
			Total Common Stocks (cost $567,089,182)					595,965,963
Principal
Amount (000)			Description (1)	Coupon	Maturity		Value
			Short-Term Investments – 5.6%
$	34,058		Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/30/08, repurchase price $34,057,606, collateralized by $29,630,000 U.S. Treasury Bonds, 5.500%, due 8/15/28, value $34,741,175	0.100%	10/01/08		$	34,057,511
			Total Short-Term Investments (cost $34,057,511)					34,057,511
			Total Investments (cost $601,146,693) – 102.8%					630,023,474
Number of				Notional	Expiration	Strike
Contracts			Type	Amount (3)	Date	Price	Value
			Call Options Written – (0.8)% (4)
	(671	)	S&P 500 Index	$  (83,875,000)	10/18/08	$1,250	$	(637,450	)
	(617	)	S&P 500 Index	(78,667,500)	10/18/08	1,275		(327,010	)
	(558	)	S&P 500 Index	(72,540,000)	10/18/08	1,300		(153,450	)
	(700	)	S&P 500 Index	(92,750,000)	10/18/08	1,325		(94,500	)
	(665	)	S&P 500 Index	(83,125,000)	11/22/08	1,250		(1,552,775	)
	(560	)	S&P 500 Index	(71,400,000)	11/22/08	1,275		(912,800	)
	(614	)	S&P 500 Index	(79,820,000)	11/22/08	1,300		(675,400	)
	(665	)	S&P 500 Index	(88,112,500)	11/22/08	1,325		(472,150	)
	(5,050	)	Total Call Options Written (premiums received $18,971,372)	(650,290,000)				(4,825,535	)
			Other Assets Less Liabilities – (2.0)%					(12,440,987	)
			Net Assets – 100%				$	612,756,952

(1)	All percentages shown in the Portfolio of Investments are based on net assets unless otherwise noted.
(2)	Non-income producing.
(3)	For disclosure purposes, Notional Amount is calculated by multiplying the Number of Contracts by the Strike Price by 100.
(4)	The Fund may designate up to 100% of its Common Stock investments to cover outstanding Call Options Written.
ADR	American Depositary Receipt.

Fair Value Measurements

During the current fiscal period, the Fund adopted the provisions of Statement of Financial Accounting Standards No. 157 (SFAS No. 157) “Fair Value Measurements.” SFAS No. 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. In determining the value of the Fund’s investments various inputs are used. These inputs are summarized in the three broad levels listed below:

Level 1 – Quoted prices in active markets for identical securities.

Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 – Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

The following is a summary of the Fund’s fair value measurements as of September 30, 2008:

	Level 1			Level 2		Level 3		Total
Investments	$	630,023,474		$	–	$	–	$	630,023,474
Call options written		(4,825,535	)		–		–		(4,825,535	)
Total	$	625,197,939		$	–	$	–	$	625,197,939

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recording income, timing differences in recognizing certain gains and losses on investment transactions and the recognition of unrealized gain or loss for tax (mark-to-market) on option contracts. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

At September 30, 2008, the cost of investments was $601,146,721.

Gross unrealized appreciation and gross unrealized depreciation of investments at September 30, 2008, were as follows:

Gross unrealized:
Appreciation	$	100,017,303
Depreciation		(71,140,550	)
Net unrealized appreciation (depreciation) of investments	$	28,876,753

Item 2. Controls and Procedures.

a.

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).

b.

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Nuveen Equity Premium Income Fund

By (Signature and Title)*	/s/ Kevin J. McCarthy
	Kevin J. McCarthy
	Vice President and Secretary

Date November 28, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*	/s/ Gifford R. Zimmerman
	Gifford R. Zimmerman
	Chief Administrative Officer (principal executive officer)

Date November 28, 2008

By (Signature and Title)*	/s/ Stephen D. Foy
	Stephen D. Foy
	Vice President and Controller (principal financial officer)

Date November 28, 2008

* Print the name and title of each signing officer under his or her signature.