<DOCUMENT>
<TYPE>EX-99.77Q1 OTHR EXHB
<SEQUENCE>3
<FILENAME>drplan.txt
<DESCRIPTION>DIVIDEND RE-INVESTMENT PLAN
<TEXT>
ALLIANZ-SPONSORED CLOSED-END FUNDS

TERMS AND CONDITIONS OF THE DIVIDEND REINVESTMENT PLAN

Holders of common shares of beneficial interest (the "Common Shares") of each
of the Allianz-sponsored closed-end investment companies listed on Appendix A
hereto, as it may be amended from time to time (each a "Fund"), whose Common
Shares are registered with the Agent (as defined below) (the "Registered
Common Shareholders" or "Shareholders"), will automatically be enrolled
(those so enrolled, the "Participants") in the Fund's Dividend Reinvestment
Plan (the "Plan") and are advised as follows with respect to each such Fund:

1.  THE PLAN AGENT.  American Stock Transfer & Trust Company, LLC (the
"Agent') will act as Agent for each Participant.  The Agent will open an
account for each Participant under the Plan with respect to the Fund in
the same name in which his or her outstanding Common Shares of the Fund are
registered with the Agent.
2.  AUTOMATIC REINVESTMENT FOR PARTICIPANTS / CASH OPTION ELECTION.  On
behalf of each Participant, the Agent will automatically reinvest each
Fund's distributions of income, capital gains and returns of capital
(together, "Distributions") in Common Shares as described herein as of
the first record date for a Distribution by the Fund to shareholders
following the date on which the Participant becomes a shareholder of
record of the Fund.  In accordance with the foregoing, each Registered
Common Shareholder will have all Distributions on his or her Common Shares
automatically reinvested in additional Common Shares, unless such
Shareholder elects to not be a Participant in the Plan and to receive
such Distributions in cash.  Registered Common Shareholders who wish to
receive Distributions in cash, whether following his or her initial
purchase of Common Shares or after having been a Participant in the Plan
for some period, should so notify the Agent online at www.amstock.com,
by calling (800) 254-5197, by writing to the Agent at P.O. Box 922,
Wall Street Station, New York, NY 10269-0560, or, as applicable, by
completing and returning the transaction form attached to each Plan
statement, as specified and in accordance with Section 13. hereof.
3.  MARKET PREMIUM ISSUANCES.  With respect to each Participant, if on the
payment date for a Distribution, the net asset value per Common Share of the
Fund is equal to or less than the market price per Common Share plus estimated
brokerage commissions, the Agent shall cause the Distribution to be invested
by receiving newly issued Common Shares ("Additional Common Shares"),
including fractions, from the Fund for each Participant's account.
The number of Additional Common Shares to be credited shall be determined by
dividing the dollar amount of the Distribution by the greater of (i) the
net asset value per Common Share on the payment date, or (ii) 95% of the
market price per Common Share on the payment date.
4.  MARKET DISCOUNT PURCHASES.  With respect to each Participant, and except
as provided below, if the net asset value per Common Share of the Fund
exceeds the market price per Common Share plus estimated brokerage
commissions on the payment date for a Distribution, the Agent (or a
broker-dealer selected by the Agent) shall endeavor to apply the amount of
such Distribution on such Participant's Common Shares to purchase Common
Shares of the Fund on the open market.  Such market purchases will
commence on or shortly after the payment date for such Distribution and
the Agent shall complete such purchases not more than thirty (30)
calendar days after such Distribution payment date, except where temporary
curtailment or suspension of purchase is necessary to comply with
applicable provisions of federal securities laws.  If the Agent is unable
to invest the full amount of a Distribution through open market purchases
pursuant to this Section 4. or, if before the Agent has completed the
open market purchases, the market price per Common Share of the Fund
plus estimated brokerage commissions exceeds the net asset value per
Common Share as of the last business day immediately prior to the
purchase date (the "prior business day"), the Agent shall cause the
remainder of the Distribution to be invested by receiving Additional
Common Shares, including fractions, from the Fund for each Participant's
account, the number of which shall be determined by dividing the dollar
amount of the remainder (i.e., the uninvested portion) of the
Distribution by the greater of (i) the net asset value per Common Share
on the prior business day, or (ii) 95% of the market price per Common
Share on the prior business day (which, in either case, may be a price
greater or lesser than the net asset value per Common Share on the
payment date for the applicable Distribution).  Participants should note
that they will not be able to instruct the Agent to purchase Common Shares
at a specific time or at a specific price.  Open-market purchases may be
made on any securities exchange where Common Shares are traded, in the
over-the-counter market or in negotiated transactions, and may be on such
terms as to price, delivery and otherwise as the Agent shall determine.
The Agent may commingle all Participants' amounts to be used for open
market purchases of the Fund's Common Shares.  The weighted average
price (including brokerage commissions) of all Common Shares purchased
on the open market by the Agent as Agent and/or issued by the Fund
pursuant to Section 3 shall be the price per Common Share allocable
to each Participant.
5.  VALUATION.  The market price of Common Shares of a Fund on a particular
date shall be the last sales price on the securities exchange where the Common
Shares are listed on that date (the "Exchange"), or, if there is no sale on
such Exchange on that date, then the mean between the closing bid and asked
quotations on such Exchange on such date will be used.  The net asset value
per Common Share on a particular date shall be the amount calculated on that
date (or if not calculated on such date, the amount most recently calculated)
by or on behalf of the Fund in accordance with the Fund's current policies.
6.  SAFEKEEPING.  In order to protect against loss, theft or destruction, if
Participants hold Common Shares registered in their own names in certificate
form, Participants may deposit such Common Shares into their Plan accounts.
Certificates, along with a letter of instruction, should be sent to the Agent
by registered mail, insured for 2% of their market value.  Participants
should not endorse their certificates.  There are no fees for this service.
7.  TAXATION.  The automatic reinvestment of Distributions does not relieve
Participants of any taxes which may be payable on Distributions.
Participants will receive tax information annually for their personal records
and to help them prepare their federal income tax return.  For further
information as to tax consequences of participation in the Plan, Participants
should consult with their own tax advisors.
8.  LIABILITY OF AGENT.  The Agent shall at all times act in good faith and
agrees to use its best efforts within reasonable limits to ensure the accuracy
of all services performed under these terms and conditions and to comply with
applicable law, but assumes no responsibility and shall not be liable for loss
or damage due to errors unless such error is caused by the Agent's negligence,
bad faith, or willful misconduct or that of its employees.  Each Participant's
uninvested funds held by the Agent will not bear interest.  The Agent shall
have no liability in connection with any inability to purchase or sell Common
Shares within the time period specified herein, or with the timing of any
purchases or sales effected.  The Agent shall have no responsibility for the
value of Common Shares acquired.  The Agent may commingle Participants' funds.
9.  RECORDKEEPING.  The Agent may hold each Participant's Common Shares
acquired pursuant to the Plan together with the Common Shares of other
Registered Common Shareholders of the Fund acquired pursuant to the Plan in
non-certificated form in the Agent's name or that of the Agent's nominee.
Distributions on fractional shares will be credited to each Participant's
account.  Each Participant will be sent a confirmation by the Agent of each
acquisition made for his or her account as soon as practicable, but in no
event later than sixty (60) calendar days, after the date thereof.  For
Funds that issue share certificates, upon a Participant's request, the Agent
will deliver to the Participant, without charge, a certificate or
certificates for the full Common Shares.  Although each Participant may
from time to time have an undivided fractional interest (computed to three
decimal places) in a Common Share of the Fund, no certificates for a
fractional share will be issued.  For Funds that issue share certificates,
Participants may request a certificate online at www.amstock.com, by
calling the Agent at (800) 254-5197, by writing to the Agent at P.O. Box
922, Wall Street Station, New York, NY 10269-0560, or by completing and
returning the transaction form attached to each Plan statement.  The Agent
will issue certificates as soon as possible but in no event more than five
(5) business days after receipt of a Participant's request.  Similarly,
Participants may request to sell a portion of the Common Shares held by the
Agent in their Plan accounts online, by calling the Agent, by writing to the
Agent, or by completing and returning the transaction form attached to each
Plan statement as specified above.  The Agent will sell such Common Shares
through a broker-dealer selected by the Agent within five (5) business days
of receipt of the request assuming the relevant markets are open and
sufficient market liquidity exists (and except where deferral of the sale is
required under applicable federal or state laws or regulations).  The sale
price, which will not be determined until such time as the broker-dealer
completes the sale, will equal the weighted average price of all Common
Shares sold through the Plan on the day of the sale, less a transaction fee
and brokerage commissions.  Participants should note that the Agent is
unable to accept instructions to sell on a specific date or at a specific
price.  As an alternative to selling Common Shares through the Agent, a
Participant may request that the Agent electronically transfer his or her
Common Shares to his or her brokerage account in applicable circumstances.
Any share dividends or split shares distributed by the Fund on Common Shares
held by the Agent for Participants will be credited to their accounts.
In the event that the Fund makes available to its Common Shareholders rights
to purchase additional Common Shares, the Common Shares held for each
Participant under the Plan will be added to other Common Shares held by the
Participant in calculating the number of rights to be issued to each
Participant.
10.  PROXY MATERIALS.  The Agent will forward to each Participant any proxy
solicitation material it receives with respect to the Common Shares in the
Participant's Plan account.  The Agent will vote any Common Shares held for a
Participant first in accordance with the instructions set forth on proxies
returned by such Participant to the Fund, and then with respect to any proxies
not returned by such Participant to the Fund, in the same proportion as the
Agent votes the proxies returned by the Participants to the Fund.
11.  BROKERS, NOMINEE HOLDERS, ETC.  In the case of Registered Common
Shareholders such as a broker, bank or other nominee that holds Common Shares
for others who are the beneficial owners, the Agent will administer the Plan
on the basis of the number of Common Shares certified by the nominee/record
shareholder as representing the total amount registered in such shareholder's
name and held for the account of beneficial owners who are to participate in
the Plan.  If a beneficial owner's broker, bank or other nominee who is the
record shareholder for the beneficial owner's Common Shares is not a
Registered Common Shareholder (i.e., the Common Shares are not registered with
the Agent), neither the nominee nor the beneficial owner will be a
Participant under the Plan and have Distributions automatically reinvested by
the Agent (although the broker, bank or other nominee may offer other
dividend reinvestment programs independent from this Plan).   If a beneficial
owner of Common Shares wishes to participate in the Plan, but his or her
broker, bank or other nominee is unable or unwilling to become a Registered
Common Shareholder and a Participant on behalf of the beneficial owner, the
beneficial owner may request that the broker, bank or other nominee arrange
to have all or a portion of his or her Common Shares re-registered with the
Agent in the name of the beneficial owner, such that the beneficial owner
becomes a Registered Common Shareholder and, as such, would be enrolled as
a Participant in the Plan unless he or she elects otherwise in accordance
with the terms hereof.  Participants whose Common Shares are registered
in the name of one nominee firm may not be able to transfer the Common
Shares to another nominee firm and continue to participate in the Plan.
12.  FEES.  The Agent's service fee for handling Distributions will be paid by
the Fund.  Each Participant will be charged his or her pro rata share of
brokerage commissions on all open-market purchases.  If a Participant elects
to have the Agent sell part or all of his or her Common Shares and remit the
proceeds, such Participant will be charged a transaction fee plus his or her
pro rata share of brokerage commissions.  The Participant will not be
charged any other fees for this service.
13.  TERMINATION IN THE PLAN / NOTIFICATION OF ELECTION TO RECEIVE CASH
DISTRIBUTIONS.  Each Registered Common Shareholder may elect to receive
Distributions from a Fund in cash and, if a Participant in the Plan, to
disenroll from and terminate his or her account under the Plan, by notifying
the Agent online at www.amstock.com, in writing at P.O. Box 922, Wall Street
Station, New York, NY 10269-0560, by calling the Agent at (800) 254-5197,
or by completing and returning the transaction form attached to each Plan
statement.  Any such written notification must be in proper order and duly
executed by the Participant and any notification online or by telephone must
be in accordance with such reasonable requirements as the Agent and the Fund
may agree.  Any such notification will be effective immediately if proper
notice is received by the Agent at least three (3) calendar days prior to
the record date for the Fund's next Distribution, in which case it will
apply to such Distribution; otherwise, the Fund's next Distribution will be
reinvested and the notification will be effective and will apply with respect
to the Fund's subsequent Distributions thereafter.  The Plan may be
terminated for a Fund by the Agent or the Fund upon notice in writing
mailed to each Participant at least sixty (60) calendar days prior to the
effective date of the termination.  Upon any termination, the Agent will
arrange to deposit all full Common Shares held for each Participant into his
or her account, where they will be held in book-entry by the Agent.  A cash
adjustment will be made for any fraction of a Common Share at the then
current market value of the Common Shares to be delivered to him or her
without charge.  If preferred, a Participant may request the sale of all
full and fractional Common Shares held by the Agent in his or her Plan
account in order to terminate participation in the Plan in accordance with
Section 9 hereof.  If a Participant has terminated his or her participation
in the Plan but continues to have Common Shares registered in his or her
name with the Agent, he or she may re-enroll in the Plan at any time by
calling the Agent at (800) 254-5197.
14.  AMENDMENT OF THE PLAN.  These terms and conditions may be amended by the
Agent or the Fund at any time but, except when necessary or appropriate to
comply with applicable law or the rules or policies of the Securities and
Exchange Commission or any other regulatory authority, only by mailing to
each Participant appropriate written notice at least thirty (30) calendar
days prior to the effective date thereof.  The amendment shall be deemed to
be accepted by each Participant unless, prior to the effective date thereof,
the Agent receives notice of the termination of the Participant's account
under the Plan.  Any such amendment may include an appointment by the Agent
of a successor Agent, subject to the prior written approval of the successor
Agent by the Fund.  Upon any such appointment of a successor Agent for the
purpose of receiving distributions, the Fund will be authorized to pay to
such successor Agent, for each Participant's account, all Distributions
payable on Common Shares of the Fund held in the Participant's name or
under the Plan for retention or application by such successor Agent as
provided in these terms and conditions.

15.  APPLICABLE LAW.  These terms and conditions shall be governed by the laws
of The Commonwealth of Massachusetts.

Effective Date:  September 17, 2012

Appendix A
Allianz-Sponsored Closed-End Funds
(As of September 17, 2012)

FUND							    	TICKER

PCM FUND, INC. 					        	PCM

PIMCO STRATEGIC GLOBAL GOVERNMENT FUND, INC. 	               	RCS

PIMCO CORPORATE & INCOME STRATEGY FUND 			        PCN

PIMCO CORPORATE & INCOME OPPORTUNITY FUND 			PTY

PIMCO DYNAMIC INCOME FUND					PDI

PIMCO INCOME STRATEGY FUND 					PFL

PIMCO INCOME STRATEGY FUND II					PFN

PIMCO GLOBAL STOCKSPLUS & INCOME FUND 				PGP

PIMCO HIGH INCOME FUND 						PHK

PIMCO INCOME OPPORTUNITY FUND 					PKO

PIMCO MUNICIPAL INCOME FUND 				        PMF

PIMCO MUNICIPAL INCOME FUND II 				        PML

PIMCO MUNICIPAL INCOME FUND III 				PMX

PIMCO NEW YORK MUNICIPAL INCOME FUND 				PNF

PIMCO CALIFORNIA MUNICIPAL INCOME FUND 				PCQ

PIMCO CALIFORNIA MUNICIPAL INCOME FUND II			PCK

PIMCO CALIFORNIA MUNICIPAL INCOME FUND III 			PZC

PIMCO NEW YORK MUNICIPAL INCOME FUND II 			PNI

PIMCO NEW YORK MUNICIPAL INCOME FUND III 			PYN

NFJ DIVIDEND, INTEREST & PREMIUM STRATEGY FUND 		        NFJ

AGIC CONVERTIBLE & INCOME FUND 					NCV

AGIC CONVERTIBLE & INCOME FUND II 				NCZ

AGIC EQUITY & CONVERTIBLE INCOME FUND 				NIE

AGIC GLOBAL EQUITY & CONVERTIBLE INCOME FUND 		        NGZ

AGIC INTERNATIONAL & PREMIUM STRATEGY FUND 			NAI
</TEXT>
</DOCUMENT>
