Allianz Global Investors Fund Management LLC (“AGIFM”), investment manager to AGIC Convertible & Income Fund (NYSE:NCV), AGIC Convertible & Income Fund II (NYSE:NCZ), AGIC Equity & Convertible Income Fund (NYSE:NIE), AGIC Global Equity & Convertible Income Fund (NYSE:NGZ) and AGIC International & Premium Strategy Fund (NYSE:NAI) (each a “Fund” and, collectively, the “Funds”) announced that, effective on January 1, 2013, the name of the investment sub-adviser to the Funds will change from Allianz Global Investors Capital LLC (“AGIC”) to Allianz Global Investors U.S. LLC.

In connection with renaming of AGIC (the sub-adviser) to Allianz Global Investors U.S. LLC, the name of each Fund will change, effective on or about January 28, 2013, to replace “AGIC” with “AllianzGI” at the beginning of the name, as indicated in the list below.

In addition, NFJ Dividend Interest & Premium Strategy Fund (NYSE:NFJ) will change its name on or about January 28, 2013 to add “AllianzGI” at the beginning of the name.

The New York Stock Exchange ticker symbols for each Fund will remain the same. The CUSIP numbers for each Fund’s common shares will change in connection with the name changes as indicated below.

Fund Names and CUSIP numbers will also change on or about January 28, 2013 for each series of preferred shares outstanding of NCV and NCZ as indicated below.

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

The Funds' New York Stock Exchange closing prices, net asset values per share, as well as other information, including updated portfolio statistics and performance, is available at http://www.allianzinvestors.com or by calling the Funds' shareholder servicing agent at (800) 254-5197.

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.