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   811-21731    

Nuveen Equity Premium Advantage 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:    9/30/2007   

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
Certification

Item 1. Schedule of Investments

Portfolio of Investments (Unaudited)

Nuveen Equity Premium Advantage Fund (JLA)
September 30, 2007

Shares			Description							Value
			Common Stocks – 101.2%
			Aerospace & Defense – 1.6%
	26,200		Boeing Company							$	2,750,738
	41,300		Honeywell International Inc.								2,456,111
	29,966		United Technologies Corporation								2,411,664
			Total Aerospace & Defense								7,618,513
			Air Freight & Logistics – 0.5%
	33,410		United Parcel Service, Inc., Class B								2,509,091
			Airlines – 0.0%
	12,313		Southwest Airlines Co.								182,232
			Auto Components – 0.5%
	41,333		American Axle and Manufacturing Holdings Inc.								1,043,658
	49,461		Cooper Tire & Rubber								1,206,848
	4,845		WABCO Holdings Inc.								226,504
			Total Auto Components								2,477,010
			Automobiles – 0.4%
	87,695		Ford Motor Company, (1)								744,531
	19,783		General Motors Corporation								726,036
	14,900		Harley-Davidson, Inc.								688,529
			Total Automobiles								2,159,096
			Beverages – 0.9%
	39,700		Coca-Cola Company								2,281,559
	28,800		PepsiCo, Inc.								2,109,888
			Total Beverages								4,391,447
			Biotechnology – 3.6%
	63,255		Amgen Inc., (1)								3,578,335
	67,600		Biogen Idec Inc., (1)								4,483,908
	12,500		Cephalon, Inc., (1)								913,250
	31,099		Genzyme Corporation, (1)								1,926,894
	158,520		Gilead Sciences, Inc., (1)								6,478,712
			Total Biotechnology								17,381,099
			Building Products – 0.1%
	22,301		Masco Corporation								516,714
			Capital Markets – 2.6%
	22,451		Bank of New York Company, Inc.								990,995
	72,720		Charles Schwab Corporation								1,570,752
	9,100		Goldman Sachs Group, Inc.								1,972,334
	89,700		JPMorgan Chase & Co.								4,110,054
	4,909		Merrill Lynch & Co., Inc.								349,914
	35,700		Morgan Stanley								2,249,100
	51,000		Waddell & Reed Financial, Inc., Class A								1,378,530
			Total Capital Markets								12,621,679
			Chemicals – 0.6%
	12,674		Dow Chemical Company								545,742
	44,813		E.I. Du Pont de Nemours and Company								2,220,932
	21,574		NL Industries Inc.								244,433
			Total Chemicals								3,011,107
			Commercial Banks – 3.4%
	108,993		Bank of America Corporation								5,479,078
	25,052		Commerce Bancorp, Inc.								971,517
	19,882		Fifth Third Bancorp.								673,602
	38,433		FirstMerit Corporation								759,436
	73,513		Lloyds TSB Group PLC, Sponsored ADR								3,268,388
	63,800		U.S. Bancorp								2,075,414
	34,900		Wachovia Corporation								1,750,235
	40,776		Wells Fargo & Company								1,452,441
			Total Commercial Banks								16,430,111
			Commercial Services & Supplies – 1.1%
	4,940		Corporate Executive Board Company								366,746
	32,672		Deluxe Corporation								1,203,636
	20,400		Manpower Inc.								1,312,740
	29,775		Pitney Bowes Inc.								1,352,381
	24,714		R.R. Donnelley & Sons Company								903,544
			Total Commercial Services & Supplies								5,139,047
			Communications Equipment – 8.6%
	459,280		Cisco Systems, Inc., (1)								15,206,761
	33,878		Comverse Technology, Inc., (1)								670,784
	59,568		Corning Incorporated								1,468,351
	29,400		Harris Corporation								1,699,026
	13,075		JDS Uniphase Corporation, (1)								195,602
	15,830		Motorola, Inc.								293,330
	351,872		QUALCOMM Inc.								14,870,111
	73,197		Research In Motion Limited, (1)								7,213,564
			Total Communications Equipment								41,617,529
			Computers & Peripherals – 10.2%
	218,498		Apple, Inc., (1)								33,548,184
	100,200		Hewlett-Packard Company								4,988,958
	43,935		International Business Machines Corporation (IBM)								5,175,543
	23,041		McAfee Inc., (1)								803,440
	7,245		NCR Corporation, (1)								360,801
	58,720		Network Appliance, Inc., (1)								1,580,155
	21,943		SanDisk Corporation, (1)								1,209,059
	242,000		Sun Microsystems Inc., (1)								1,357,620
			Total Computers & Peripherals								49,023,760
			Consumer Finance – 0.3%
	18,700		American Express Company								1,110,219
	17,850		Discover Financial Services								371,280
			Total Consumer Finance								1,481,499
			Containers & Packaging – 0.4%
	43,903		Packaging Corp. of America								1,276,260
	24,900		Sonoco Products Company								751,482
			Total Containers & Packaging								2,027,742
			Diversified Consumer Services – 0.3%
	11,893		ITT Educational Services, Inc., (1)								1,447,259
			Diversified Financial Services – 1.8%
	108,149		Citigroup Inc.								5,047,314
	4,400		CME Group, Inc.								2,584,340
	20,000		Moody’s Corporation								1,008,000
			Total Diversified Financial Services								8,639,654
			Diversified Telecommunication Services – 2.6%
	220,695		AT&T Inc.								9,337,605
	27,955		Chunghwa Telecom Co., Ltd., Sponsored ADR								516,616
	72,955		Citizens Communications Company								1,044,716
	11,127		France Telecom SA								372,087
	31,090		Verizon Communications Inc.								1,376,665
			Total Diversified Telecommunication Services								12,647,689
			Electric Utilities – 0.5%
	21,600		Exelon Corporation								1,627,776
	30,400		OGE Energy Corp.								1,006,240
			Total Electric Utilities								2,634,016
			Electrical Equipment – 1.3%
	26,000		Cooper Industries, Ltd., Class A								1,328,340
	59,800		Emerson Electric Co.								3,182,556
	13,500		Hubbell Incorporated, Class B								771,120
	13,700		Rockwell Automation, Inc.								952,287
			Total Electrical Equipment								6,234,303
			Electronic Equipment & Instruments – 1.1%
	17,182		Agilent Technologies, Inc., (1)								633,672
	26,404		Amphenol Corporation, Class A								1,049,823
	13,259		Diebold Inc.								602,224
	48,857		Gentex Corporation								1,047,494
	18,868		Roper Industries Inc.								1,235,854
	177,201		Solectron Corporation, (1)								691,084
	3,560		Tyco Electronics, Limited, (1)								126,131
			Total Electronic Equipment & Instruments								5,386,282
			Energy Equipment & Services – 1.7%
	15,000		Cooper Cameron Corporation, (1)								1,384,350
	19,059		Diamond Offshore Drilling, Inc.								2,159,194
	52,800		Halliburton Company								2,027,520
	34,200		Smith International, Inc.								2,441,880
			Total Energy Equipment & Services								8,012,944
			Food & Staples Retailing – 1.1%
	43,162		CVS Caremark Corporation								1,710,510
	10,816		Kroger Co.								308,472
	23,562		SUPERVALU INC.								919,154
	49,992		Wal-Mart Stores, Inc.								2,182,151
			Total Food & Staples Retailing								5,120,287
			Food Products – 1.1%
	9,285		Chiquita Brands International Inc., (1)								146,982
	47,193		Kraft Foods Inc.								1,628,630
	27,800		Monsanto Company								2,383,572
	64,658		Sara Lee Corporation								1,079,142
			Total Food Products								5,238,326
			Gas Utilities – 0.6%
	47,295		Nicor Inc.								2,028,956
	26,700		Piedmont Natural Gas Company								669,903
			Total Gas Utilities								2,698,859
			Health Care Equipment & Supplies – 1.4%
	33,800		Applera Corporation-Applied Biosystems Group								1,170,832
	34,700		Baxter International Inc.								1,952,916
	19,890		Boston Scientific Corporation, (1)								277,466
	9,335		Covidien Limited, (1)								387,403
	3,702		Intuitive Surgical, Inc., (1)								851,460
	3,900		Medtronic, Inc.								219,999
	19,174		Saint Jude Medical Inc., (1)								844,998
	11,687		Zimmer Holdings, Inc., (1)								946,530
			Total Health Care Equipment & Supplies								6,651,604
			Health Care Providers & Services – 0.8%
	11,349		Medco Health Solutions, Inc., (1)								1,025,836
	18,244		UnitedHealth Group Incorporated								883,557
	11,200		Universal Health Services, Inc., Class B								609,504
	14,993		Wellpoint Inc., (1)								1,183,248
			Total Health Care Providers & Services								3,702,145
			Hotels, Restaurants & Leisure – 2.4%
	18,429		Carnival Corporation								892,516
	9,154		Harrah’s Entertainment, Inc.								795,757
	26,904		International Game Technology								1,159,562
	45,500		McDonald’s Corporation								2,478,385
	137,420		Starbucks Corporation, (1)								3,600,404
	15,700		Starwood Hotels & Resorts Worldwide, Inc.								953,775
	27,491		Tim Hortons Inc.								958,061
	20,300		Wendy’s International, Inc.								708,673
			Total Hotels, Restaurants & Leisure								11,547,133
			Household Durables – 0.6%
	24,388		Leggett and Platt Inc.								467,274
	38,500		Newell Rubbermaid Inc.								1,109,570
	12,700		Whirlpool Corporation								1,131,570
			Total Household Durables								2,708,414
			Household Products – 1.1%
	75,195		Procter & Gamble Company								5,289,216
			Industrial Conglomerates – 1.9%
	13,364		3M Co.								1,250,603
	14,536		American Standard Companies Inc.								517,772
	158,640		General Electric Company								6,567,696
	17,994		Genuine Parts Company								899,700
			Total Industrial Conglomerates								9,235,771
			Insurance – 1.8%
	15,228		AFLAC Incorporated								868,605
	63,270		American International Group, Inc.								4,280,216
	34,260		Fidelity National Title Group Inc., Class A								598,865
	30,179		Marsh & McLennan Companies, Inc.								769,565
	13,260		Prudential Financial, Inc.								1,293,911
	18,273		Travelers Companies, Inc.								919,863
			Total Insurance								8,731,025
			Internet & Catalog Retail – 1.3%
	52,639		Amazon.com, Inc., (1)								4,903,323
	51,320		IAC/InterActiveCorp., (1)								1,522,664
			Total Internet & Catalog Retail								6,425,987
			Internet Software & Services – 4.1%
	44,756		Earthlink, Inc., (1)								354,468
	93,739		eBay Inc., (1)								3,657,696
	25,023		Google Inc., Class A, (1)								14,194,797
	7,385		NIC, Incorporated								51,252
	43,727		United Online, Inc.								656,342
	27,105		Yahoo! Inc., (1)								727,498
			Total Internet Software & Services								19,642,053
			IT Services – 1.6%
	32,440		Automatic Data Processing, Inc.								1,489,969
	23,755		CheckFree Corp., (1)								1,105,558
	41,600		Electronic Data Systems Corporation								908,544
	17,573		Fidelity National Information Services								779,714
	7,816		Global Payments Inc.								345,624
	13,150		Infosys Technologies Limited, Sponsored ADR								636,329
	61,190		Paychex, Inc.								2,508,790
			Total IT Services								7,774,528
			Leisure Equipment & Products – 0.1%
	26,523		Eastman Kodak Company								709,755
			Machinery – 1.5%
	29,600		Caterpillar Inc.								2,321,528
	8,259		Danaher Corporation								683,102
	15,700		Eaton Corporation								1,554,928
	18,700		Graco Inc.								731,357
	21,330		SPX Corporation								1,974,305
			Total Machinery								7,265,220
			Media – 2.7%
	2,657		Citadel Broadcasting Corporation								11,053
	32,300		Clear Channel Communications, Inc.								1,209,312
	228,623		Comcast Corporation, Special Class A, (1)								5,477,807
	1,638		Idearc Inc.								51,548
	20,333		Monster Worldwide Inc., (1)								692,542
	36,179		New York Times, Class A								714,897
	62,500		News Corporation, Class A								1,374,375
	20,400		Omnicom Group Inc.								981,036
	65,946		Regal Entertainment Group, Class A								1,447,515
	36,300		Walt Disney Company								1,248,357
			Total Media								13,208,442
			Metals & Mining – 1.2%
	49,042		Companhia Siderurgica Nacional S.A., Sponsored ADR								3,458,442
	2,736		Freeport-McMoRan Copper & Gold, Inc.								286,979
	14,778		Southern Copper Corporation								1,829,960
			Total Metals & Mining								5,575,381
			Multiline Retail – 0.7%
	23,453		Federated Department Stores, Inc.								758,001
	16,800		J.C. Penney Company, Inc.								1,064,616
	12,439		Kohl’s Corporation, (1)								713,128
	7,297		Sears Holding Corporation, (1)								928,178
			Total Multiline Retail								3,463,923
			Multi-Utilities – 0.4%
	61,600		Duke Energy Corporation								1,151,304
	15,502		Integrys Energy Group, Inc.								794,167
	26		National Grid PLC, Sponsored ADR								2,086
			Total Multi-Utilities								1,947,557
			Oil, Gas & Consumable Fuels – 4.9%
	70,620		Chevron Corporation								6,608,620
	27,800		ConocoPhillips								2,440,006
	136,446		Exxon Mobil Corporation								12,629,442
	4,005		Norsk Hydro ASA								173,617
	43,670		Tesoro Petroleum Corporation								2,009,693
			Total Oil, Gas & Consumable Fuels								23,861,378
			Paper & Forest Products – 0.2%
	6,887		Bowater Incorporated								102,754
	23,723		International Paper Company								850,944
			Total Paper & Forest Products								953,698
			Pharmaceuticals – 5.3%
	34,430		Abbott Laboratories								1,846,137
	77,186		Bristol-Myers Squibb Company								2,224,501
	58,800		Celgene Corporation, (1)								4,193,028
	29,208		Eli Lilly and Company								1,662,811
	8,855		GlaxoSmithKline PLC, ADR								471,086
	42,743		Johnson & Johnson								2,808,215
	99,822		Merck & Co. Inc.								5,159,799
	182,940		Pfizer Inc.								4,469,224
	33,686		Schering-Plough Corporation								1,065,488
	38,806		Wyeth								1,728,807
			Total Pharmaceuticals								25,629,096
			Real Estate – 0.9%
	30,269		Healthcare Realty Trust, Inc.								806,972
	9,611		Host Hotels & Resorts Inc.								215,671
	38,339		Lexington Corporate Properties Trust								767,163
	51,777		Nationwide Health Properties, Inc.								1,560,041
	41,422		Senior Housing Properties Trust								913,769
			Total Real Estate								4,263,616
			Road & Rail – 0.3%
	17,500		Burlington Northern Santa Fe Corporation								1,420,475
			Semiconductors & Equipment – 5.8%
	54,763		Altera Corporation								1,318,693
	14,165		Analog Devices, Inc.								512,206
	109,780		Applied Materials, Inc.								2,272,446
	66,600		Broadcom Corporation, Class A, (1)								2,426,904
	18,900		Cymer, Inc., (1)								725,571
	47,717		Cypress Semiconductor Corporation, (1)								1,393,814
	39,437		Fairchild Semiconductor International Inc., Class A, (1)								736,683
	46,242		Integrated Device Technology, Inc., (1)								715,826
	3,985		International Rectifier Corporation, (1)								131,465
	20,531		Intersil Holding Corporation, Class A								686,351
	20,150		KLA-Tencor Corporation								1,123,967
	70,275		Linear Technology Corporation								2,458,922
	96,703		LSI Logic Corporation, (1)								717,536
	12,210		Marvell Technology Group Ltd., (1)								199,878
	73,000		Micron Technology, Inc., (1)								810,300
	52,100		National Semiconductor Corporation								1,412,952
	27,401		Novellus Systems, Inc., (1)								746,951
	85,035		NVIDIA Corporation, (1)								3,081,668
	21,817		PMC-Sierra, Inc., (1)								183,045
	110,442		Taiwan Semiconductor Manufacturing Company Ltd., Sponsored ADR								1,117,673
	13,849		Tessera Technologies Inc., (1)								519,338
	79,714		Texas Instruments Incorporated								2,916,735
	33,502		Varian Semiconductor Equipment Associate, (1)								1,793,027
	2,103		Verigy Limited, (1)								51,965
			Total Semiconductors & Equipment								28,053,916
			Software – 9.5%
	60,364		Activision Inc., (1)								1,303,259
	91,430		Adobe Systems Incorporated, (1)								3,991,834
	28,460		Akamai Technologies, Inc., (1)								817,656
	27,918		Autodesk, Inc., (1)								1,395,062
	61,885		BEA Systems, Inc., (1)								858,345
	27,633		CA Inc.								710,721
	74,410		Cadence Design Systems, Inc., (1)								1,651,158
	62,757		CNET Networks, Inc., (1)								467,540
	694,901		Microsoft Corporation								20,471,783
	8,453		NAVTEQ Corporation, (1)								659,080
	490,178		Oracle Corporation, (1)								10,612,354
	8,038		SAP AG, Sponsored ADR								471,589
	38,088		Satyam Computer Services Limited, ADR								986,098
	40,834		VeriSign, Inc., (1)								1,377,739
			Total Software								45,774,218
			Specialty Retail – 1.6%
	28,650		Best Buy Co., Inc.								1,318,473
	50,492		Gap, Inc.								931,072
	36,334		Home Depot, Inc.								1,178,675
	40,900		Limited Brands, Inc.								936,201
	29,000		Lowe’s Companies, Inc.								812,580
	39,837		Pier 1 Imports, Inc., (1)								188,429
	6,115		RadioShack Corporation								126,336
	28,938		TJX Companies, Inc.								841,228
	43,412		Tuesday Morning Corporation								390,274
	37,616		Urban Outfitters, Inc., (1)								820,029
			Total Specialty Retail								7,543,297
			Thrifts & Mortgage Finance – 0.1%
	4,769		Federal National Mortgage Association								290,003
			Tobacco – 1.0%
	68,196		Altria Group, Inc.								4,741,668
	13,526		Vector Group Ltd.								303,120
			Total Tobacco								5,044,788
			Wireless Telecommunication Services – 1.1%
	46,400		China Mobile Hong Kong Limited, Sponsored ADR								3,806,656
	5,800		iPCS Inc.								199,462
	36,448		Vodafone Group PLC, Sponsored ADR								1,323,062
			Total Wireless Telecommunication Services								5,329,180
			Total Common Stocks (cost $334,644,471)								488,689,114
Principal
Amount (000)			Description	Coupon			Maturity			Value
			Short-Term Investments – 5.4%
$	26,150		Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/28/07, repurchase price $26,158,043, collateralized by $21,150,000 U.S. Treasury Bonds, 7.250%, due 8/15/22, value $26,675,438		3.750%		10/01/07			$	26,149,871
			Total Short-Term Investments (cost $26,149,871)								26,149,871
				Notional			Expiration	Strike
Contracts			Type	Amount (2)			Date	Price		Value
			Put Options – 0.3%
	302		NASDAQ 100 Index		5,134,000		10/20/07		1,700		21,744
	264		NASDAQ 100 Index	$	4,620,000		10/20/07	$	1,750	$	27,060
	296		NASDAQ 100 Index		5,032,000		11/17/07		1,700		102,120
	302		NASDAQ 100 Index		5,285,000		12/22/07		1,750		306,530
	217		S&P 500 Index		2,929,500		10/20/07		1,350		23,870
	224		S&P 500 Index		3,080,000		10/20/07		1,375		35,392
	224		S&P 500 Index		2,968,000		11/17/07		1,325		88,480
	199		S&P 500 Index		2,686,500		11/17/07		1,350		103,480
	239		S&P 500 Index		3,286,250		11/17/07		1,375		162,520
	225		S&P 500 Index		3,037,500		12/22/07		1,350		243,000
	231		S&P 500 Index		3,176,250		12/22/07		1,375		306,075
	2,723		Total Put Options (cost $4,988,787)		41,235,000						1,420,271
			Total Investments (cost $365,783,129) – 106.9%								516,259,256
				Notional			Expiration	Strike
Contracts			Type	Amount (2)			Date	Price		Value
			Call Options – (5.1)% (3)
	(1,360	)	Mini-NOX 100 Index	$	(2,686,000	)	10/20/07	$	197.5	$	(1,774,800	)
	(230	)	Mini-NOX 100 Index		(460,000	)	10/20/07		200.0		(249,550	)
	(240	)	Mini-NOX 100 Index		(480,000	)	11/17/07		200.0		(316,800	)
	(1,150	)	Mini-NOX 100 Index		(2,328,750	)	11/17/07		202.5		(1,299,500	)
	(135	)	NASDAQ 100 Index		(2,565,000	)	10/20/07		1,900		(2,720,250	)
	(120	)	NASDAQ 100 Index		(2,340,000	)	10/20/07		1,950		(1,849,200	)
	(113	)	NASDAQ 100 Index		(2,260,000	)	10/20/07		2,000		(1,230,005	)
	(235	)	NASDAQ 100 Index		(4,700,000	)	11/17/07		2,000		(3,098,475	)
	(128	)	NASDAQ 100 Index		(2,592,000	)	11/17/07		2,025		(1,445,120	)
	(135	)	NASDAQ 100 Index		(2,767,500	)	12/22/07		2,050		(1,593,675	)
	(181	)	S&P 500 Index		(2,624,500	)	10/20/07		1,450		(1,550,265	)
	(290	)	S&P 500 Index		(4,277,500	)	10/20/07		1,475		(1,848,750	)
	(200	)	S&P 500 Index		(3,000,000	)	10/20/07		1,500		(871,000	)
	(184	)	S&P 500 Index		(2,806,000	)	10/20/07		1,525		(479,320	)
	(191	)	S&P 500 Index		(2,817,250	)	11/17/07		1,475		(1,483,115	)
	(303	)	S&P 500 Index		(4,545,000	)	11/17/07		1,500		(1,783,155	)
	(210	)	S&P 500 Index		(3,202,500	)	11/17/07		1,525		(880,950	)
	(5,405	)	Total Call Options Written (premiums received $17,446,726)		(46,452,000	)					(24,473,930	)
			Other Assets Less Liabilities – (1.8)%								(8,850,940	)
			Net Assets – 100%							$	482,934,386

(1)	Non-income producing.
(2)	For disclosure purposes, Notional Amount is calculated by multiplying the number of Contracts by the Strike Price by 100.
(3)	The Fund may designate up to 100% of its Common Stock investments to cover outstanding Call Options Written.
ADR	American Depositary Receipt.

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 the recognition of unrealized gain or loss for tax (mark-to-market) on index option contracts, recognition of income on REIT investments and timing differences in recognizing certain gains and losses on investment transactions.

At September 30, 2007, the cost of investments was $365,783,138.

Gross unrealized appreciation and gross unrealized depreciation of investments at September 30, 2007, were as follows:

Gross unrealized:
Appreciation	$	156,515,102
Depreciation		(6,038,984	)
Net unrealized appreciation (depreciation) of investments	$	150,476,118

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 Advantage Fund    

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

Date November 29, 2007

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 29, 2007

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

Date November 29, 2007

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