Allianz Global Investors Fund Management LLC (“AGIFM”), the investment manager of AllianzGI NFJ Dividend, Interest and Premium Strategy Fund (the “Fund”) (NYSE:NFJ), announced today that Ben Fischer, CFA, of NFJ Investment Group LLC has been appointed lead portfolio manager of the Fund. Mr. Fischer has been a portfolio manager of the Fund’s Equity Component since its inception in February 2005. The Fund did not previously have a lead portfolio manager. There are no other changes to the portfolio management team which includes Douglas Forsyth, who has managed the Fund’s Convertible Component since inception and Stephen Bond-Nelson who has managed the Fund’s Index Option Strategy since 2007.

In addition to his current portfolio management responsibilities with the Fund, which will not change, Mr. Fischer will oversee the Fund’s overall asset allocation mix and be responsible for implementing the Fund’s asset allocation rebalancing policy (most recently described in a press release issued on October 5, 2011), which to date has been implemented by AGIFM as the investment manager. Mr. Fischer will also facilitate coordination and communication among the three investment teams that manage the components of the Fund’s portfolio – the Equity Component, the Convertible Component and the Index Option Strategy.

AGIFM is an indirect, wholly-owned subsidiary of Allianz Asset Management of America L.P. and a member of the Munich-based Allianz Group, and serves as the Fund’s investment manager. NFJ Investment Group LLC (responsible for the Fund’s equity component) and Allianz Global Investors U.S. LLC (responsible for the Fund’s convertible component and index option strategy) are each an AGIFM affiliate and serve as the Fund’s sub-advisers.

The Fund’s daily New York Stock Exchange closing market prices and net asset values per share as well as other information, including portfolio statistics and performance is available at us.allianzgi.com/closedendfunds.com or by calling the Fund’s 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 a Fund’s 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.

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