<DOCUMENT>
<TYPE>EX-99.S1
<SEQUENCE>3
<FILENAME>dex99s1.txt
<DESCRIPTION>POWER OF ATTORNEY FOR MR. CONNOR
<TEXT>
<PAGE>

                                                                     Exhibit s.1

                                POWER OF ATTORNEY

     I, the undersigned Trustee of NFJ Dividend, Interest & Premium Strategy
Fund (the "Trust"), hereby severally constitute and appoint each of Newton B.
Schott, Jr., Brian S. Shlissel, Lawrence G. Altadonna, Joseph B. Kittredge, Jr.
and David C. Sullivan, and each of them singly, with full powers of substitution
and resubstitution, my true and lawful attorney, with full power to him to sign
for me, and in my name and in the capacities indicated below, any Registration
Statement of the Trust on Form N-2, all Pre-Effective Amendments to any such
Registration Statement of the Trust, any and all subsequent Post-Effective
Amendments to said Registration Statement, any and all supplements or other
instruments in connection therewith, and any subsequent Registration Statements
for the same offering which may be filed under Rule 462(b), and to file the
same, with all exhibits thereto, and other documents in connection therewith,
with the Securities and Exchange Commission and the securities regulators of the
appropriate states and territories, and generally to do all such things in my
name and on my behalf in connection therewith as said attorney deems necessary
or appropriate to comply with the Securities Act of 1933, the Investment Company
Act of 1940, all related requirements of the Securities and Exchange Commission
and of the appropriate state and territorial regulators, granting unto said
attorney full power and authority to do and perform each and every act and thing
requisite or necessary to be done in connection therewith, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorney lawfully could do or cause to be done by
virtue hereof.

Name                          Capacity   Date
----                          --------   ----


/s/ Robert E. Connor          Trustee    January 24, 2005
---------------------------
Robert E. Connor

</TEXT>
</DOCUMENT>
