Allianz Global Investors Fund Management Announces Planned Liquidation of AllianzGI International &

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Allianz Global Investors Fund Management Announces Planned Liquidation of AllianzGI International & Premium Strategy Fund

NEW YORK--(BUSINESS WIRE)-- Allianz Global Investors Fund Management LLC ("AGIFM") announced that, at a meeting held today, the Board of Trustees of AllianzGI International & Premium Strategy Fund (the "Fund") (NYS: NAI) , a closed-end management investment company, approved a Plan of Liquidation and Termination for the Fund. The Plan of Liquidation and Termination is expected to take effect on or about October 16, 2013.

Subsequent to the effectiveness of the Fund's Plan of Liquidation and Termination, the Fund will begin the orderly liquidation of its assets, determine and pay, or set aside in cash or cash equivalents, an amount at least equal to all known or reasonably ascertainable liabilities and obligations of the Fund, and make one or more liquidating distributions to the Fund's common shareholders. The Fund has fixed the close of business on October 16, 2013 as the record date for determining the common shareholders of the Fund entitled to receive liquidating distributions. As of that time, the share transfer books of the Fund will be closed, and the trading of the Fund's shares on the New York Stock Exchange is expected to be suspended. The Fund's liquidating distributions will be paid in cash. Additional details with respect to the Fund's liquidation will be provided as they become available. It is currently anticipated that the liquidation will be completed on or about October 28, 2013.

AGIFM, an indirect, wholly-owned subsidiary of Allianz Asset Management of America L.P., serves as the Fund's investment manager and is a member of Munich-based Allianz Group. Allianz Global Investors U.S. LLC, an AGIFM affiliate, serves as the Fund's sub-adviser.

The Fund's daily New York Stock Exchange closing market price, net asset value per share, as well as other information, including updated portfolio statistics and performance are available at 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 the 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. The Fund's ability to pay dividends to common shareholders is subject to the restrictions in its registration statement, by-laws and other governing documents, as well as the Investment Company Act of 1940.

For information on Allianz Closed-End Funds:
Financial Advisors: 800-926-4456
Shareholders: 800-254-5197
Media Relations: 212-739-3501

KEYWORDS:   United States  North America  New York


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