NFJ Dividend, Interest & Premium Strategy Fund Reports Results for the Fiscal Quarter...

NFJ Dividend, Interest & Premium Strategy Fund Reports Results for the Fiscal
Quarter and Year Ended January 31, 2009

NEW YORK, April 7, 2009 (GLOBE NEWSWIRE) -- NFJ Dividend, Interest & Premium
Strategy Fund (the "Fund") (NYSE:NFJ), a closed-end management investment
company which seeks current income and gains, with a secondary objective of
long-term capital appreciation, today announced its results for the fiscal
quarter and year ended January 31, 2009.

At January 31,
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2009 2008
---- ----
Net Assets $1,334,735,366 $2,253,651,678
Shares Outstanding 94,524,325 94,524,325
Net Asset Value ("NAV") $14.12 $23.84
Market Price $12.97 $23.26
Discount to NAV (8.14)% (2.43)%

Quarter ended January 31,
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2009 2008
---- ----
Net Investment Income $18,684,316 $12,058,405
Per Share $0.19 $0.12
Net Realized and Change
in Unrealized Loss $(149,271,413) $(175,960,992)
Per Share $(1.58) $(1.86)

Year ended January 31,
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2009 2008
---- ----
Net Investment Income $84,406,751 $75,897,341
Per Share $0.89 $0.80
Net Realized and Change
in Unrealized Loss $(815,692,278) $(41,633,436)
Per Share $(8.63) $(0.44)
Allianz Global Investors Fund Management LLC, an indirect, wholly-owned
subsidiary of Allianz Global Investors of America L.P., serves as the Fund's
investment manager and is a member of Munich-based Allianz Group (NYSE:AZ). NFJ
Investment Group L.P., Nicholas-Applegate Capital Management LLC and Oppenheimer
Capital LLC (the "Sub-Advisers") manage the Fund's equity component, convertible
component and index option strategy, respectively. The Sub-Advisers are all
affiliates of Allianz Global Investors Fund Management LLC.

The Fund's daily New York Stock Exchange closing price, net asset value per
share, as well as other information, is available at
www.allianzinvestors.com/closedendfunds or by calling the Fund's shareholder
servicing agent at (800) 331-1710.

The financial information contained herein is solely based upon the data
available at the time of publication of this press release, and there is no
assurance that any future results will be the same or similar to the results
reported herein. Information that was obtained from third party sources we
believe to be reliable is not guaranteed as to its accuracy or completeness.
This press release contains no recommendations to buy or sell any specific
securities and should not be considered investment advice of any kind. Past
performance is no guarantee of future results and the investment returns
generated by the Fund will fluctuate. There can be no assurance that the Fund
will meet its objective. In making an investment decision, individuals should
utilize other information sources and the advice of their own professional
adviser.

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CONTACT: NFJ Closed-End Fund
Financial Advisors:
(800) 628-1237
Shareholders:
(800) 285-4086
Media Relations:
(212) 739-3501