NFJ, NAI, NIE and NGZ Amend Dividend Reinvestment Plan

NFJ Dividend, Interest & Premium Strategy Fund (NYSE: NFJ), AGIC International & Premium Strategy Fund (NYSE: NAI), AGIC Equity & Convertible Income Fund (NYSE: NIE) and AGIC Global Equity & Convertible Income Fund (NYSE: NGZ) (collectively, the “Funds”) announced that the Funds have amended their Dividend Reinvestment Plan.

The Funds’ amended Dividend Reinvestment Plan will become effective on November 15, 2011, for distributions paid after December 15, 2011. A copy of the amended Plan for each Fund is available at http://www.allianzinvestors.com/closedendfunds.

Allianz Global Investors Fund Management LLC (“AGIFM”), an indirect, wholly-owned subsidiary of Allianz Global Investors of America L.P., serves as the Funds’ investment manager and is a member of Munich-based Allianz Group. NFJ Investment Group L.P. (responsible for NFJ’s equity component), Allianz Global Investors Capital LLC (responsible for NFJ’s convertible component and index option strategy as well as the sole sub-adviser of NAI, NIE and NGZ), each an AGIFM affiliate, serve as the Funds’ sub-advisers.

The Funds’ daily New York Stock Exchange closing prices, net asset values per share, as well as other information, including portfolio statistics and performance are available at http://www.allianzinvestors.com/closedendfunds or by calling the Funds’ shareholder servicing agent at [phone].

Statements made in this release that look forward in time involve risks and uncertainties and are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Funds’ performance, a general downturn in the economy, competition from other companies, changes in government policy or regulation, inability to attract or retain key employees, inability to implement its operating strategy and/or acquisition strategy, and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.