AllianzGI NFJ Dividend, Interest & Premium Strategy Fund and AllianzGI Equity & Convertible Income Fund Declare Quarterly Distributions

The Boards of Trustees of AllianzGI NFJ Dividend, Interest, & Premium
Strategy Fund (NYSE:NFJ) and AllianzGI Equity & Convertible Income Fund
(NYSE: NIE) (collectively, the “Funds”) announced today they have
declared the following quarterly distributions.

The distributions will be payable on June 28, 2019 to shareholders of
record on June 17, 2019 with an ex-dividend date of June 14, 2019.

The actual composition and character of the distributions stated above
and future distributions of each Fund may be materially different from
the composition or character of such distributions that existed at the
time of this press release and may be comprised of net investment
income, capital gains and/or return of capital. Such factors include the
varied nature of each Funds’ investments and the performance of those
investments, and that the ultimate characterization of each Funds’
distribution cannot finally be determined until the end of each Funds’
fiscal year, resulting in the possibility of a return of capital if any
Fund makes total distributions in an amount that exceeds its net
investment income and net realized capital gains during its fiscal year.
Additional information as applicable regarding the composition of the
distributions will be made available at us.allianzgi.com/closedendfunds
after the payable date. As a result of the foregoing and other factors,
no assurance can be given as to the actual composition or character of
each Funds’ distribution at the time of this press release and neither
the Funds, Allianz Global Investors U.S. LLC (“AllianzGI U.S.”), nor any
of its trustees, members, officers or employees assumes responsibility
for such statements.

This notice should not be used to prepare tax returns. In January 2020,
Form 1099-DIV (or substitute Form 1099-DIV) will be sent to shareholders
and will state the aggregate amount and tax characteristics of
distributions for the 2019 calendar year.

It is anticipated that the Funds’ next quarterly distribution will be
declared on or about September 6, 2019 and be payable on or about
September 27, 2019.

Allianz Global Investors U.S. LLC, 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.

The Funds’ daily New York Stock Exchange closing market prices and net
asset values per share, as well as other information, including updated
portfolio statistics and performance is available at us.allianzgi.com/closedendfunds
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 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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