NFJ Dividend, Interest & Premium Strategy Fund Reports Results for the Fiscal Quarter and Six Months Ended July 31, 2006


NEW YORK, Oct. 6, 2006 (PRIMEZONE) -- 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 six months ended July 31, 2006.



                                 At July 31, 2006    At July 31, 2005
                                 ----------------    ----------------
 Net Assets                       $2,282,365,685      $2,250,449,053
 Shares Outstanding                   94,524,325          94,524,325
 Net Asset Value ("NAV")                  $24.15              $23.81
 Market Price                             $22.59              $23.86
 Premium (Discount) to NAV                 (6.46)%              0.21%

                                            Quarter ended
                                   July 31, 2006       July 31, 2005
                                 ----------------    ----------------
 Net Investment Income               $19,599,130         $14,708,618
 Per Share                                 $0.21               $0.16
 Net Realized and Change
  in Unrealized Gain                    $300,419        $110,480,666
 Per Share                                 $0.01               $1.18

                                 Six Months ended July 31, 2006(a)
                                 --------------------------------
 Net Investment Income                      $36,730,977
 Per Share                                        $0.39
 Net Realized and Change
  in Unrealized Gain                        $59,232,976
 Per Share                                        $0.63

 (a) The Fund commenced operations on February 28, 2005, therefore
     prior period comparative information is not available.

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 PEA 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.

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 what is 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. In making an investment decision, individuals should utilize other information sources and the advice of their own professional advisor.



            

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