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:    9/30/2008   

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 Advantage Fund (JLA)
September 30, 2008

Shares		Description (1)	Value
		Common Stocks – 95.7%
		Aerospace & Defense – 1.2%
	26,200	Boeing Company	$	1,502,570
	41,300	Honeywell International Inc.		1,716,015
	29,966	United Technologies Corporation		1,799,758
		Total Aerospace & Defense		5,018,343
		Air Freight & Logistics – 0.5%
	31,710	United Parcel Service, Inc., Class B		1,994,242
		Airlines – 0.4%
	44,700	Lan Airlines S.A., Sponsored ADR		509,580
	64,014	Northwest Airlines Corporation, (2)		578,046
	48,013	Southwest Airlines Co.		696,669
		Total Airlines		1,784,295
		Auto Components – 0.2%
	41,333	American Axle and Manufacturing Holdings Inc.		221,545
	49,461	Cooper Tire & Rubber		425,365
		Total Auto Components		646,910
		Automobiles – 0.2%
	87,695	Ford Motor Company, (2)		456,014
	14,900	Harley-Davidson, Inc.		555,770
		Total Automobiles		1,011,784
		Beverages – 1.0%
	39,700	Coca-Cola Company		2,099,336
	28,800	PepsiCo, Inc.		2,052,576
		Total Beverages		4,151,912
		Biotechnology – 5.5%
	70,655	Amgen Inc., (2)		4,187,722
	67,600	Biogen Idec Inc., (2)		3,399,604
	59,600	Celgene Corporation, (2)		3,771,488
	12,600	Cephalon, Inc., (2)		976,374
	32,799	Genzyme Corporation, (2)		2,653,111
	158,520	Gilead Sciences, Inc., (2)		7,225,342
		Total Biotechnology		22,213,641
		Capital Markets – 2.5%
	27,452	Bank of New York Company, Inc.		894,386
	72,720	Charles Schwab Corporation		1,890,720
	9,100	Goldman Sachs Group, Inc.		1,164,800
	89,700	JPMorgan Chase & Co.		4,188,990
	35,700	Morgan Stanley		821,100
	51,000	Waddell & Reed Financial, Inc., Class A		1,262,250
		Total Capital Markets		10,222,246
		Chemicals – 0.5%
	12,674	Dow Chemical Company		402,780
	44,813	E.I. Du Pont de Nemours and Company		1,805,964
		Total Chemicals		2,208,744
		Commercial Banks – 2.8%
	133,993	Bank of America Corporation		4,689,755
	38,433	FirstMerit Corporation		807,093
	73,513	Lloyds TSB Group PLC, Sponsored ADR		1,229,872
	10,376	Toronto-Dominion Bank		632,832
	63,800	U.S. Bancorp		2,298,076
	40,776	Wells Fargo & Company		1,530,323
		Total Commercial Banks		11,187,951
		Commercial Services & Supplies – 1.0%
	4,940	Corporate Executive Board Company		154,375
	32,672	Deluxe Corporation		470,150
	20,400	Manpower Inc.		880,464
	29,775	Pitney Bowes Inc.		990,317
	24,714	R.R. Donnelley & Sons Company		606,234
	26,700	Resources Connection, Inc., (2)		601,551
	17,200	Robert Half International Inc.		425,700
		Total Commercial Services & Supplies		4,128,791
		Communications Equipment – 7.9%
	459,280	Cisco Systems, Inc., (2)		10,361,355
	33,878	Comverse Technology, Inc., (2)		324,212
	59,568	Corning Incorporated		931,644
	29,400	Harris Corporation		1,358,280
	323,872	QUALCOMM Inc.		13,916,778
	74,167	Research In Motion Limited, (2)		5,065,606
		Total Communications Equipment		31,957,875
		Computers & Peripherals – 8.7%
	209,206	Apple, Inc., (2)		23,778,350
	47,100	EMC Corporation, (2)		563,316
	100,200	Hewlett-Packard Company		4,633,248
	43,935	International Business Machines Corporation (IBM)		5,138,638
	23,041	McAfee Inc., (2)		782,472
	61,900	Sun Microsystems Inc., (2)		470,440
		Total Computers & Peripherals		35,366,464
		Consumer Finance – 0.2%
	18,700	American Express Company		662,541
	22,760	SLM Corporation, (2)		280,858
		Total Consumer Finance		943,399
		Containers & Packaging – 0.4%
	43,903	Packaging Corp. of America		1,017,672
	24,900	Sonoco Products Company		739,032
		Total Containers & Packaging		1,756,704
		Diversified Consumer Services – 0.3%
	11,893	ITT Educational Services, Inc., (2)		962,263
	41,675	Service Corporation International		348,403
		Total Diversified Consumer Services		1,310,666
		Diversified Financial Services – 0.6%
	4,400	CME Group, Inc.		1,634,644
	20,000	Moody’s Corporation		680,000
		Total Diversified Financial Services		2,314,644
		Diversified Telecommunication Services – 2.2%
	225,695	AT&T Inc.		6,301,404
	25,413	Chunghwa Telecom Co., Ltd., Sponsored ADR, (2)		601,526
	586	FairPoint Communications Inc.		5,081
	72,955	Frontier Communications Corporation		838,983
	31,090	Verizon Communications Inc.		997,678
		Total Diversified Telecommunication Services		8,744,672
		Electric Utilities – 1.0%
	17,700	Covanta Holding Corporation, (2)		423,738
	21,600	Exelon Corporation		1,352,592
	19,758	Great Plains Energy Incorporated		439,023
	30,400	OGE Energy Corp.		938,752
	27,782	Pinnacle West Capital Corporation		955,979
		Total Electric Utilities		4,110,084
		Electrical Equipment – 1.3%
	26,000	Cooper Industries, Ltd., Class A		1,038,700
	59,800	Emerson Electric Company		2,439,242
	13,500	Hubbell Incorporated, Class B		473,175
	13,700	Rockwell Automation, Inc.		511,558
	13,087	SunPower Corporation, (2)		903,657
		Total Electrical Equipment		5,366,332
		Electronic Equipment & Instruments – 0.9%
	17,182	Agilent Technologies, Inc., (2)		509,618
	26,404	Amphenol Corporation, Class A		1,059,857
	48,857	Gentex Corporation		698,655
	7,800	MEMC Electronic Materials, (2)		220,428
	18,868	Roper Industries Inc.		1,074,721
		Total Electronic Equipment & Instruments		3,563,279
		Energy Equipment & Services – 1.7%
	30,000	Cooper Cameron Corporation, (2)		1,156,200
	19,059	Diamond Offshore Drilling, Inc.		1,964,221
	52,800	Halliburton Company		1,710,192
	34,200	Smith International, Inc.		2,005,488
		Total Energy Equipment & Services		6,836,101
		Food & Staples Retailing – 1.2%
	43,162	CVS Caremark Corporation		1,452,833
	15,016	Kroger Co.		412,640
	23,562	SUPERVALU INC.		511,295
	15,400	Walgreen Co.		476,784
	31,292	Wal-Mart Stores, Inc.		1,874,078
		Total Food & Staples Retailing		4,727,630
		Food Products – 1.3%
	10,500	Archer-Daniels-Midland Company		230,055
	47,193	Kraft Foods Inc.		1,545,571
	27,800	Monsanto Company		2,751,644
	64,658	Sara Lee Corporation		816,631
		Total Food Products		5,343,901
		Gas Utilities – 0.7%
	47,295	Nicor Inc.		2,097,533
	26,700	Piedmont Natural Gas Company		853,332
		Total Gas Utilities		2,950,865
		Health Care Equipment & Supplies – 2.4%
	47,844	Accuray, Inc., (2)		386,101
	33,800	Applera Corporation-Applied Biosystems		1,157,650
	34,400	Baxter International Inc.		2,257,672
	55,100	Boston Scientific Corporation, (2)		676,077
	9,694	Cardinal Health, Inc.		477,720
	42,325	ev3, Inc., (2)		424,943
	14,126	Hill Rom Holdings Inc.		428,159
	3,702	Intuitive Surgical, Inc., (2)		892,108
	25,859	Lincare Holdings, (2)		778,097
	12,200	Medtronic, Inc.		611,220
	19,174	Saint Jude Medical Inc., (2)		833,877
	11,687	Zimmer Holdings, Inc., (2)		754,513
		Total Health Care Equipment & Supplies		9,678,137
		Health Care Providers & Services – 1.1%
	40,030	Brookdale Senior Living Inc.		880,260
	22,698	Medco Health Solutions, Inc., (2)		1,021,410
	82,800	Tenet Healthcare Corporation, (2)		459,540
	31,105	UnitedHealth Group Incorporated		789,756
	11,200	Universal Health Services, Inc., Class B		627,536
	14,593	Wellpoint Inc., (2)		682,515
		Total Health Care Providers & Services		4,461,017
		Hotels, Restaurants & Leisure – 1.8%
	18,429	Carnival Corporation		651,465
	26,904	International Game Technology		462,211
	10,272	Interval Leisure Group Inc., (2)		106,829
	45,500	McDonald’s Corporation		2,807,350
	112,350	Starbucks Corporation, (2)		1,670,645
	15,700	Starwood Hotels & Resorts Worldwide, Inc.		441,798
	27,491	Tim Hortons Inc.		814,558
	86,275	Wendys Arbys Group Inc.		453,807
		Total Hotels, Restaurants & Leisure		7,408,663
		Household Durables – 0.5%
	20,700	KB Home		407,376
	38,500	Newell Rubbermaid Inc.		664,510
	12,700	Whirlpool Corporation		1,006,983
		Total Household Durables		2,078,869
		Household Products – 1.3%
	75,195	Procter & Gamble Company		5,240,340
		Industrial Conglomerates – 1.4%
	13,364	3M Co.		912,895
	158,640	General Electric Company		4,045,320
	17,994	Genuine Parts Company		723,539
		Total Industrial Conglomerates		5,681,754
		Insurance – 1.1%
	15,228	AFLAC Incorporated		894,645
	64,450	American International Group, Inc.		214,619
	35,260	Fidelity National Title Group Inc., Class A		518,322
	30,179	Marsh & McLennan Companies, Inc.		958,485
	13,260	Prudential Financial, Inc.		954,720
	18,273	Travelers Companies, Inc.		825,940
		Total Insurance		4,366,731
		Internet & Catalog Retail – 1.1%
	52,639	Amazon.com, Inc., (2)		3,830,014
	10,272	Hosting Site Network, Inc., (2)		113,095
	25,680	IAC/InterActiveCorp., (2)		444,264
	10,272	Ticketmaster Online-Citysearch, Inc., (2)		110,219
		Total Internet & Catalog Retail		4,497,592
		Internet Software & Services – 3.8%
	136,989	eBay Inc., (2)		3,065,814
	25,123	Google Inc., Class A, (2)		10,062,264
	20,000	IBasis, Inc., (2)		69,800
	43,727	United Online, Inc.		411,471
	99,875	Yahoo! Inc., (2)		1,727,838
		Total Internet Software & Services		15,337,187
		IT Services – 1.2%
	32,440	Automatic Data Processing, Inc.		1,386,810
	18,573	Fidelity National Information Services		342,858
	7,816	Global Payments Inc.		350,626
	13,350	Infosys Technologies Limited, Sponsored ADR		444,689
	9,286	Lender Processing Services Inc.		283,409
	61,190	Paychex, Inc.		2,021,106
		Total IT Services		4,829,498
		Leisure Equipment & Products – 0.2%
	26,523	Eastman Kodak Company		407,924
		Machinery – 1.4%
	29,600	Caterpillar Inc.		1,764,160
	8,259	Danaher Corporation		573,175
	6,600	Deere & Company		326,700
	15,700	Eaton Corporation		882,026
	18,700	Graco Inc.		665,907
	21,330	SPX Corporation		1,642,410
		Total Machinery		5,854,378
		Media – 3.0%
	19,588	CBS Corporation, Class B		285,593
	245,323	Comcast Corporation, Special Class A		4,837,770
	72,690	DIRECTV Group, Inc., (2)		1,902,297
	33,200	Liberty Media Holding Corporation – Entertainment, Class A, (2)		829,004
	45,085	McClatchy Company		198,374
	62,500	News Corporation, Class A		749,375
	20,400	Omnicom Group Inc.		786,624
	65,946	Regal Entertainment Group, Class A		1,040,628
	44,300	Time Warner Inc.		580,773
	34,600	Walt Disney Company		1,061,874
		Total Media		12,272,312
		Metals & Mining – 0.9%
	18,751	AngloGold Ashanti Limited, Sponsored ADR		433,148
	107,079	Companhia Siderurgica Nacional S.A., Sponsored ADR		2,276,500
	44,334	Southern Copper Corporation		845,893
		Total Metals & Mining		3,555,541
		Multiline Retail – 1.1%
	25,000	Family Dollar Stores, Inc.		592,500
	24,733	Federated Department Stores, Inc.		444,699
	16,800	J.C. Penney Company, Inc.		560,112
	13,209	Kohl’s Corporation, (2)		608,671
	14,467	Sears Holding Corporation, (2)		1,352,665
	17,100	Target Corporation		838,755
		Total Multiline Retail		4,397,402
		Multi-Utilities – 0.5%
	61,600	Duke Energy Corporation		1,073,688
	15,502	Integrys Energy Group, Inc.		774,170
		Total Multi-Utilities		1,847,858
		Oil, Gas & Consumable Fuels – 4.8%
	14,400	A/S Steamship Company Torm, Sponsored ADR		342,576
	70,620	Chevron Corporation		5,824,738
	27,800	ConocoPhillips		2,036,350
	20,800	Delta Petroleum Corporation, (2)		282,464
	136,446	Exxon Mobil Corporation		10,596,394
	9,400	XTO Energy, Inc.		437,288
		Total Oil, Gas & Consumable Fuels		19,519,810
		Paper & Forest Products – 0.2%
	23,723	International Paper Company		621,068
		Pharmaceuticals – 4.6%
	34,630	Abbott Laboratories		1,993,995
	9,300	Allergan, Inc.		478,950
	77,186	Bristol-Myers Squibb Company		1,609,328
	37,208	Eli Lilly and Company		1,638,268
	15,263	Forest Laboratories, Inc., (2)		431,638
	8,855	GlaxoSmithKline PLC, Sponsored ADR		384,838
	43,843	Johnson & Johnson		3,037,443
	99,822	Merck & Co. Inc.		3,150,382
	197,940	Pfizer Inc.		3,650,014
	33,686	Schering-Plough Corporation		622,180
	38,806	Wyeth		1,433,494
		Total Pharmaceuticals		18,430,530
		Real Estate Investment Trust – 1.2%
	14,617	Apartment Investment & Management Company, Class A		511,887
	72,400	DCT Industrial Trust Inc.		542,276
	12,300	Developers Diversified Realty Corporation		389,787
	51,777	Nationwide Health Properties, Inc.		1,862,936
	41,422	Senior Housing Properties Trust		987,086
	54,500	U-Store-It Trust		668,715
		Total Real Estate Investment Trust		4,962,687
		Road & Rail – 0.4%
	17,500	Burlington Northern Santa Fe Corporation		1,617,525
		Semiconductors & Equipment – 4.8%
	97,900	Advanced Micro Devices, Inc., (2)		513,975
	55,763	Altera Corporation		1,153,179
	15,765	Analog Devices, Inc.		415,408
	110,180	Applied Materials, Inc.		1,667,023
	144,000	Atmel Corporation, (2)		488,160
	67,900	Broadcom Corporation, Class A, (2)		1,264,977
	18,900	Cymer, Inc., (2)		478,737
	47,717	Cypress Semiconductor Corporation, (2)		249,083
	39,437	Fairchild Semiconductor International Inc., Class A, (2)		350,595
	46,242	Integrated Device Technology, Inc., (2)		359,763
	187,600	Intel Corporation		3,513,748
	20,531	Intersil Holding Corporation, Class A		340,404
	70,275	Linear Technology Corporation		2,154,632
	126,303	LSI Logic Corporation, (2)		676,984
	52,100	National Semiconductor Corporation		896,641
	27,401	Novellus Systems, Inc., (2)		538,156
	85,235	NVIDIA Corporation, (2)		912,867
	110,998	Taiwan Semiconductor Manufacturing Company Ltd., Sponsored ADR		1,040,051
	79,714	Texas Instruments Incorporated		1,713,851
	33,502	Varian Semiconductor Equipment Associate, (2)		841,570
		Total Semiconductors & Equipment		19,569,804
		Software – 9.0%
	120,728	Activision Blizzard Inc., (2)		1,862,833
	100,430	Adobe Systems Incorporated, (2)		3,963,972
	29,510	Akamai Technologies, Inc., (2)		514,654
	28,718	Autodesk, Inc., (2)		963,489
	33,593	CA Inc.		670,516
	74,410	Cadence Design Systems, Inc., (2)		503,012
	638,901	Microsoft Corporation		17,052,266
	490,178	Oracle Corporation, (2)		9,955,515
	8,038	SAP AG, Sponsored ADR		429,470
	38,088	Satyam Computer Services Limited, Sponsored ADR		615,121
		Total Software		36,530,848
		Specialty Retail – 1.6%
	28,650	Best Buy Co., Inc.		1,074,375
	50,492	Gap, Inc.		897,748
	37,874	Home Depot, Inc.		980,558
	40,900	Limited Brands, Inc.		708,388
	30,900	Lowe’s Companies, Inc.		732,021
	28,938	TJX Companies, Inc.		883,188
	37,616	Urban Outfitters, Inc., (2)		1,198,822
		Total Specialty Retail		6,475,100
		Textiles, Apparel & Luxury Goods – 0.1%
	14,000	Coach, Inc., (2)		350,560
		Thrifts & Mortgage Finance – 0.0%
	1,712	Tree.com Inc., (2)		8,252
		Tobacco – 1.2%
	68,196	Altria Group, Inc.		1,353,009
	68,196	Philip Morris International		3,280,228
		Total Tobacco		4,633,237
		Wireless Telecommunication Services – 0.8%
	45,119	China Mobile Hong Kong Limited, Sponsored ADR		2,259,560
	36,448	Vodafone Group PLC, Sponsored ADR		805,501
		Total Wireless Telecommunication Services		3,065,061
		Total Common Stocks (cost $333,830,376)		387,561,160

Principal
Amount (000)			Description (1)		Coupon		Maturity		Value
			Short-Term Investments – 7.4%
$	30,048		Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/30/08, repurchase price $30,047,780, collateralized by $26,140,000 U.S. Treasury Bonds, 5.500%, due 8/15/28, value $30,649,150.		0.100%		10/01/08		$	30,047,697
			Total Short-Term Investments (cost $30,047,697)							30,047,697
			Total Investments (cost $363,878,073) – 103.1%							417,608,857
Number of					Notional		Expiration	Strike
Contracts			Type		Amount (3)		Date	Price	Value
			Call Options Written – (0.7)% (4)
	(1,340	)	Mini-NDX 100 Index	$	(25,460,000	)	10/18/08	$190.0	$	(14,740	)
	(150	)	Mini-NDX 100 Index		(2,925,000	)	10/18/08	195.0		(1,650	)
	(230	)	Mini-NDX 100 Index		(4,542,500	)	10/18/08	197.5		(2,300	)
	(988	)	Mini-NDX 100 Index		(17,784,000	)	11/22/08	180.0		(176,852	)
	(987	)	Mini-NDX 100 Index		(17,766,000	)	12/20/08	180.0		(266,490	)
	(785	)	Mini-NDX 100 Index		(14,522,500	)	12/20/08	185.0		(134,235	)
	(251	)	NASDAQ 100 Index		(48,945,000	)	10/18/08	1,950		(13,178	)
	(101	)	NASDAQ 100 Index		(19,947,500	)	10/18/08	1,975		(3,535	)
	(87	)	NASDAQ 100 Index		(15,660,000	)	11/22/08	1,800		(160,080	)
	(141	)	NASDAQ 100 Index		(26,085,000	)	11/22/08	1,850		(152,985	)
	(86	)	NASDAQ 100 Index		(15,480,000	)	12/20/08	1,800		(220,160	)
	(63	)	NASDAQ 100 Index		(11,655,000	)	12/20/08	1,850		(103,635	)
	(224	)	S&P 500 Index		(28,000,000	)	10/18/08	1,250		(212,800	)
	(201	)	S&P 500 Index		(25,627,500	)	10/18/08	1,275		(106,530	)
	(185	)	S&P 500 Index		(24,050,000	)	10/18/08	1,300		(50,875	)
	(247	)	S&P 500 Index		(32,727,500	)	10/18/08	1,325		(33,345	)
	(223	)	S&P 500 Index		(27,875,000	)	11/22/08	1,250		(520,705	)
	(185	)	S&P 500 Index		(23,587,500	)	11/22/08	1,275		(301,550	)
	(201	)	S&P 500 Index		(26,130,000	)	11/22/08	1,300		(221,100	)
	(223	)	S&P 500 Index		(29,547,500	)	11/22/08	1,325		(158,330	)
	(6,898	)	Total Call Options Written (premiums received $13,116,408)		(438,317,500)					(2,855,075	)
			Other Assets Less Liabilities – (2.4)%							(9,614,803	)
			Net Assets – 100%						$	405,138,979

(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	$	417,608,857		$	—	$	—	$	417,608,857
Call options written		(2,855,075	)		—		—		(2,855,075	)
Total	$	414,753,782		$	—	$	—	$	414,753,782

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 $363,878,082.

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

Gross unrealized:
Appreciation	$	84,242,331
Depreciation		(30,511,556	)
Net unrealized appreciation (depreciation) of investments	$	53,730,775

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 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.