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<SEC-DOCUMENT>0000950123-10-058812.txt : 20100617
<SEC-HEADER>0000950123-10-058812.hdr.sgml : 20100617
<ACCEPTANCE-DATETIME>20100617110550
ACCESSION NUMBER:		0000950123-10-058812
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100721
FILED AS OF DATE:		20100617
DATE AS OF CHANGE:		20100617
EFFECTIVENESS DATE:		20100617

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NICHOLAS APPLEGATE CONVERTIBLE & INCOME FUND
		CENTRAL INDEX KEY:			0001214935
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21284
		FILM NUMBER:		10902315

	MAIL ADDRESS:	
		STREET 1:		1345 AVE OF THE AMERICAS
		STREET 2:		47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NICHOLAS APPLEGATE CONVERTIBLE INCOME FUND
		DATE OF NAME CHANGE:	20030121

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NICHOLAS APPLEGATE CONVERTIBLE & INCOME FUND II
		CENTRAL INDEX KEY:			0001227857
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21338
		FILM NUMBER:		10902314

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212 739 3502

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAFM NICHOLAS APPLEGATE NFJ CONVERTIBLE & INCOME FUND
		DATE OF NAME CHANGE:	20030417

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO STRATEGIC GLOBAL GOVERNMENT FUND INC
		CENTRAL INDEX KEY:			0000916183
		IRS NUMBER:				943194834
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-08216
		FILM NUMBER:		10902310

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212 739 3000

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RCM STRATEGIC GLOBAL GOVERNMENT FUND INC
		DATE OF NAME CHANGE:	19931214

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NFJ DIVIDEND, INTEREST & PREMIUM STRATEGY FUND
		CENTRAL INDEX KEY:			0001260563
		STANDARD INDUSTRIAL CLASSIFICATION:	LOAN BROKERS [6163]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21417
		FILM NUMBER:		10902309

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2127393502

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NFJ DIVIDEND, INTEREST & PREMIUM EQUITY INCOME FUND
		DATE OF NAME CHANGE:	20050119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAFM/NFJ DIVIDEND & EQUITY INCOME FUND
		DATE OF NAME CHANGE:	20041220

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NFJ RCM GLOBAL DIVIDEND INCOME FUND
		DATE OF NAME CHANGE:	20040331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO Global StocksPLUS & Income Fund
		CENTRAL INDEX KEY:			0001318025
		IRS NUMBER:				202726382

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21734
		FILM NUMBER:		10902311

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212 739-3371

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIMCO Global StocksPLUS Income Fund
		DATE OF NAME CHANGE:	20050321

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIMCO International StocksPLUS Income Fund
		DATE OF NAME CHANGE:	20050216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Nicholas-Applegate International & Premium Strategy Fund
		CENTRAL INDEX KEY:			0001319332
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21724
		FILM NUMBER:		10902312

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212-739-3371

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAFM NACM International & Premium Strategy Fund
		DATE OF NAME CHANGE:	20050301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NACM International & Premium Strategy Fund
		DATE OF NAME CHANGE:	20050301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Nicholas-Applegate Equity & Convertible Income Fund
		CENTRAL INDEX KEY:			0001383441
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21989
		FILM NUMBER:		10902313

	BUSINESS ADDRESS:	
		STREET 1:		ONE INTERNATIONAL PLACE
		STREET 2:		C/O ROPES & GRAY LLP
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-951-7000

	MAIL ADDRESS:	
		STREET 1:		ONE INTERNATIONAL PLACE
		STREET 2:		C/O ROPES & GRAY LLP
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Nicholas-Applegate Equity & Income Capture Fund
		DATE OF NAME CHANGE:	20061213
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>y03636def14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<HTML>
<HEAD>
<TITLE>def14a</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>SCHEDULE 14A</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>(Rule&nbsp;14a-101)</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 18pt"><B>SCHEDULE 14A INFORMATION</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the<BR>
Securities Exchange Act of 1934 (Amendment No. )</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Filed by the Registrant <FONT face="Wingdings">&#254;</FONT><BR>
Filed by a Party other than the Registrant <FONT face="Wingdings">&#111;</FONT>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box:

</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Preliminary Proxy Statement<BR></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Confidential, For Use of the Commission Only (as permitted by
Rule&nbsp;14a-6(e)(2))</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#254;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Definitive Proxy Statement</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Definitive Additional Materials</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Soliciting Material Under Rule&nbsp;14a-12</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">NFJ
    DIVIDEND, INTEREST&#160;&#038; PREMIUM STRATEGY FUND
    (&#147;NFJ&#148;)<BR>
    NICHOLAS-APPLEGATE CONVERTIBLE&#160;&#038; INCOME FUND
    (&#147;NCV&#148;)<BR>
    NICHOLAS-APPLEGATE CONVERTIBLE&#160;&#038; INCOME FUND&#160;II
    (&#147;NCZ&#148;)<BR>
    NICHOLAS-APPLEGATE EQUITY&#160;&#038; CONVERTIBLE INCOME FUND
    (&#147;NIE&#148;)<BR>
    NICHOLAS-APPLEGATE INTERNATIONAL&#160;&#038; PREMIUM STRATEGY
    FUND (&#147;NAI&#148;)<BR>
    PIMCO GLOBAL
    STOCKSPLUS<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>

    &#038; INCOME FUND (&#147;PGP&#148;)<BR>
    PIMCO STRATEGIC GLOBAL GOVERNMENT FUND, INC.
    (&#147;RCS&#148;)</FONT></B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>1345 Avenue of the Americas<br>
New York, New York 10105</B></DIV>


<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt">(Name of Registrant as Specified In Its Charter)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Payment
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">of Filing Fee (Check the appropriate box):</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#254;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">No fee required.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title of each class of securities to which transaction applies:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Aggregate number of securities to which transaction applies:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Per unit price or other underlying value of transaction computed pursuant to Exchange Act
Rule&nbsp;0-11 (set forth the amount on which the filing fee is calculated and state how it was
determined):</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Proposed maximum aggregate value of transaction:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Total fee paid:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fee paid previously with preliminary materials:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2) and
identify the filing for which the offsetting fee was paid previously. Identify the previous
filing by registration statement number, or the form or schedule and the date of its filing.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amount previously paid:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form, Schedule or Registration Statement No.:<BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Filing Party:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date Filed:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">NOTICE OF JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JULY 21, 2010</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">c/o Allianz Global Investors Fund Management LLC 1345 Avenue of the Americas New York, New York 10105</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">PROXY STATEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">FOR THE JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JULY 21, 2010</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">INTRODUCTION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">PROPOSAL: ELECTION OF TRUSTEES/DIRECTORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">Compensation Table</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<!-- link1 "NOTICE OF JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JULY 21, 2010" -->
<DIV align="left"><A NAME="000"></A></DIV>
<FONT style="font-size: 12pt">
    NOTICE OF JOINT ANNUAL MEETING OF SHAREHOLDERS
    </FONT>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="font-size: 12pt">TO BE HELD ON JULY 21, 2010
    </FONT>
</DIV>


<!-- link1 "c/o Allianz Global Investors Fund Management LLC 1345 Avenue of the Americas New York, New York 10105" -->
<DIV align="left"><A NAME="001"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times"><FONT style="white-space: nowrap">c/o&#160;Allianz</FONT>
    Global Investors Fund&#160;Management LLC<BR>
    1345 Avenue of the Americas<BR>
    New York, New York 10105</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To the Shareholders of NFJ Dividend, Interest&#160;&#038;
    Premium Strategy Fund (&#147;NFJ&#148;), Nicholas-Applegate
    Convertible&#160;&#038; Income Fund (&#147;NCV&#148;),
    Nicholas-Applegate Convertible&#160;&#038; Income Fund&#160;II
    (&#147;NCZ&#148;), Nicholas-Applegate Equity&#160;&#038;
    Convertible Income Fund (&#147;NIE&#148;), Nicholas-Applegate
    International&#160;&#038; Premium Strategy Fund
    (&#147;NAI&#148;), PIMCO Global
    StocksPLUS<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>

    &#038; Income Fund (&#147;PGP&#148;) and PIMCO Strategic Global
    Government Fund, Inc. (&#147;RCS&#148;) (each a &#147;Fund&#148;
    and, collectively, the &#147;Funds&#148;):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Notice is hereby given that a Joint Annual Meeting of
    Shareholders (the &#147;Meeting&#148;) of the Funds will be held
    at the offices of Allianz Global Investors Fund&#160;Management
    LLC (&#147;AGIFM&#148; or the &#147;Manager&#148;), at 1345
    Avenue of the Americas, between West 54th and West 55th Streets,
    49th&#160;Floor, New York, New York 10105, on Wednesday,
    July&#160;21, 2010 at 10:30&#160;A.M., Eastern Time, for NCV,
    NCZ, NIE and NAI, at 11:30&#160;A.M., Eastern Time, for NFJ, and
    at 12:00&#160;P.M., Eastern Time, for PGP and RCS, for the
    following purposes, which are more fully described in the
    accompanying Proxy Statement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="4%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    To elect Trustees/Directors of each Fund, each to hold office
    for the term indicated and until his or her successor shall have
    been elected and qualified;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;
</TD>
    <TD align="left">
    To transact such other business as may properly come before the
    Meeting or any adjournment(s) or postponement(s) thereof.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of Trustees/Directors of each Fund has fixed the close
    of business on May&#160;12, 2010 as the record date for the
    determination of shareholders entitled to notice of, and to vote
    at, the Meeting or any adjournment or postponement thereof. The
    enclosed proxy is being solicited on behalf of the Board of
    Trustees/Directors of each Fund.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    By order of the Board of Trustees/Directors of each Fund
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="y03636y0363601.gif" alt="-s- Thomas J. Fuccillo">
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Thomas J. Fuccillo<BR>
    Secretary
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    New York, New York
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    June&#160;18, 2010
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>It is important that your shares be represented at the
    Meeting in person or by proxy, no matter how many shares you
    own. If you do not expect to attend the Meeting, please
    complete, date, sign and return the applicable enclosed proxy or
    proxies in the accompanying envelope, which requires no postage
    if mailed in the United States. Please mark and mail your proxy
    or proxies promptly in order to save the Funds any additional
    costs of further proxy solicitations and in order for the
    Meeting to be held as scheduled.</B>
</DIV>
</DIV><!-- End box 1 -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">NFJ
    DIVIDEND, INTEREST&#160;&#038; PREMIUM STRATEGY FUND
    (&#147;NFJ&#148;)<BR>
    NICHOLAS-APPLEGATE CONVERTIBLE&#160;&#038; INCOME FUND
    (&#147;NCV&#148;)<BR>
    NICHOLAS-APPLEGATE CONVERTIBLE&#160;&#038; INCOME FUND&#160;II
    (&#147;NCZ&#148;)<BR>
    NICHOLAS-APPLEGATE EQUITY&#160;&#038; CONVERTIBLE INCOME FUND
    (&#147;NIE&#148;)<BR>
    NICHOLAS-APPLEGATE INTERNATIONAL&#160;&#038; PREMIUM STRATEGY
    FUND (&#147;NAI&#148;)<BR>
    PIMCO GLOBAL
    STOCKSPLUS<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>

    &#038; INCOME FUND (&#147;PGP&#148;)<BR>
    PIMCO STRATEGIC GLOBAL GOVERNMENT FUND, INC.
    (&#147;RCS&#148;)</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><FONT style="white-space: nowrap">c/o&#160;Allianz</FONT>
    Global Investors Fund&#160;Management LLC</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>1345 Avenue of the Americas</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>New York, New York 10105</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">IMPORTANT
    NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>FOR THE JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON
    JULY 21, 2010</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The 2010 Proxy Statement and the Annual Reports to Shareholders
    for the fiscal years ended January&#160;31, 2010 for NFJ, NIE
    and RCS, February&#160;28, 2010 for NAI, NCV and NCZ, and
    March&#160;31, 2010 for PGP are also available at
    www.allianzinvestors.com.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 7pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<!-- link1 "PROXY STATEMENT" -->
<DIV align="left"><A NAME="002"></A></DIV>
<B><FONT style="font-size: 12pt">
    PROXY STATEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 7pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<!-- link1 "FOR THE JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JULY 21, 2010" -->
<DIV align="left"><A NAME="003"></A></DIV>

    FOR THE JOINT ANNUAL MEETING OF SHAREHOLDERS
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    TO BE HELD ON JULY 21, 2010
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>


<!-- link1 "INTRODUCTION" -->
<DIV align="left"><A NAME="004"></A></DIV>


<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">INTRODUCTION</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    This Proxy Statement is furnished in connection with the
    solicitation by the Board of Trustees/Directors (the
    &#147;Board&#148;) of the shareholders of NFJ Dividend,
    Interest&#160;&#038; Premium Strategy Fund (&#147;NFJ&#148;),
    Nicholas-Applegate Convertible&#160;&#038; Income Fund
    (&#147;NCV&#148;), Nicholas-Applegate Convertible&#160;&#038;
    Income Fund&#160;II (&#147;NCZ&#148;), Nicholas-Applegate
    Equity&#160;&#038; Convertible Income Fund (&#147;NIE&#148;),
    Nicholas-Applegate International&#160;&#038; Premium Strategy
    Fund (&#147;NAI&#148;), PIMCO Global
    StocksPLUS<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>

    &#038; Income Fund (&#147;PGP&#148;) and PIMCO Strategic Global
    Government Fund, Inc. (&#147;RCS&#148;) (each a &#147;Fund&#148;
    and, collectively, the &#147;Funds&#148;) of proxies to be voted
    at the Joint Annual Meeting of Shareholders of the Funds and any
    adjournment(s) or postponement(s) thereof (the
    &#147;Meeting&#148;). The Meeting will be held at the offices of
    Allianz Global Investors Fund&#160;Management LLC
    (&#147;AGIFM&#148; or the &#147;Manager&#148;), at 1345 Avenue
    of the Americas, between West 54th and West 55th Streets, 49th
    Floor, New York, New York 10105, on Wednesday, July&#160;21,
    2010 at 10:30&#160;A.M., Eastern Time, for NCV, NCZ, NIE and
    NAI, at 11:30&#160;A.M., Eastern Time, for NFJ, and at
    12:00&#160;P.M., Eastern Time, for PGP and RCS.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As previously announced by press release, effective on or about
    August&#160;25, 2010, the portfolio management agreements
    pursuant to which (i)&#160;Nicholas-Applegate Capital Management
    LLC (&#147;NACM&#148;) serves as
    <FONT style="white-space: nowrap">sub-adviser</FONT>
    to NCV, NCZ, NIE, NAI and a portion of NFJ&#146;s portfolio and
    (ii)&#160;Oppenheimer Capital LLC (&#147;OpCap&#148;) serves as
    <FONT style="white-space: nowrap">sub-adviser</FONT>
    to a portion of NFJ&#146;s portfolio will each be novated from
    NACM or OpCap (as applicable) to Allianz Global Investors
    Capital LLC (&#147;AGIC&#148;), the indirect parent of NACM and
    OpCap, an affiliate of AGIFM (the &#147;Novations&#148;). As a
    result of the Novations, AGIC, an investment adviser registered
    with the Securities and Exchange Commission, will replace NACM
    and OpCap as
    <FONT style="white-space: nowrap">sub-adviser</FONT>
    to the relevant Fund (or portion thereof). In connection with
    the Novations, the name of each Fund (except NFJ) will
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    change, effective on or about August&#160;25, 2010, as indicated
    in the following list (the New York Stock Exchange ticker
    symbols for each Fund will remain the same):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="46%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="44%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Current Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Ticker</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>New Fund Name</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Nicholas-Applegate Convertible&#160;&#038; Income Fund
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    NCV
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    AGIC Convertible &#038; Income Fund
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Nicholas-Applegate Convertible&#160;&#038; Income Fund&#160;II
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    NCZ
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    AGIC Convertible &#038; Income Fund&#160;II
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Nicholas-Applegate International&#160;&#038; Premium Strategy
    Fund
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    NAI
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    AGIC International &#038; Premium Strategy Fund
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Nicholas-Applegate Equity&#160;&#038; Convertible Income Fund
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    NIE
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    AGIC Equity &#038; Convertible Income Fund
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Nicholas-Applegate Global Equity&#160;&#038; Convertible Income
    Fund
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    NGZ
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    AGIC Global Equity &#038; Convertible Income Fund
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Novations of the portfolio management agreements will not
    result in any change in the investment objectives or strategies,
    portfolio management personnel or responsibilities or fees and
    expenses of any Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Notice of Joint Annual Meeting of Shareholders (the
    &#147;Notice&#148;) this Proxy Statement and the enclosed proxy
    cards are first being sent to Shareholders on or about
    June&#160;18, 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Meeting is scheduled as a joint meeting of the holders of
    common shares of each Fund (the &#147;Common Shareholders&#148;)
    and preferred shares of NCV and NCZ (the &#147;Preferred
    Shareholders&#148; and, together with the Common Shareholders,
    the &#147;Shareholders&#148;). The Shareholders of each Fund are
    expected to consider and vote on similar matters. Shareholders
    of each Fund will vote on the applicable proposal set forth
    herein (the &#147;Proposal&#148;) and on any other matters that
    may arise for that Fund. An unfavorable vote on the Proposal by
    the Shareholders of one Fund will not affect the implementation
    of the Proposal by another Fund if the Proposal is approved by
    the Shareholders of such other Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of each Fund has fixed the close of business on
    May&#160;12, 2010 as the record date (the &#147;Record
    Date&#148;) for the determination of Shareholders of each Fund
    entitled to notice of, and to vote at, the Meeting, and any
    adjournment(s) or postponement(s) thereof. Shareholders of each
    Fund on the Record Date will be entitled to one vote per share
    on each matter to which they are entitled to vote and that is to
    be voted on by Shareholders of the Fund, and a fractional vote
    with respect to fractional shares, with no cumulative voting
    rights in the election of Trustees/Directors. The following
    table sets forth the number of shares of common stock
    (&#147;Common Shares&#148;) and shares of preferred stock
    (&#147;Preferred Shares&#148; and, together with the Common
    Shares, the &#147;Shares&#148;) issued and outstanding of each
    Fund at the close of business on the Record Date:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="69%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Outstanding<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Outstanding<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Common Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Preferred Shares</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NFJ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94,524,325
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    73,508,723
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,280
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCZ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    60,950,686
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,960
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NIE
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,304,189
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NAI
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,873,169
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    PGP
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,028,073
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    RCS
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39,135,270
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The classes of Shares listed for each Fund in the table above
    are the only classes of Shares currently authorized by that Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    At the Meeting, for those Funds having Preferred Shares
    outstanding (NCV and NCZ), the election of certain Trustees (the
    &#147;Preferred Shares&#160;Trustees&#148;) will be voted on
    exclusively by the Preferred Shareholders of such Funds. On each
    other proposal to be brought before the meeting (including the
    election of the other nominees), such Preferred Shareholders
    will have equal voting rights (<I>i.e.</I>, one vote per Share)
    with such
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Fund&#146;s Common Shareholders and, will vote together with
    Common Shareholders as a single class. As summarized in the
    table below,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NFJ:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the Shareholders of NFJ, voting as a single class, have the
    right to vote on the re-election of Paul Belica, Hans W.
    Kertess, William B. Ogden, IV and R. Peter Sullivan&#160;III and
    the election of James A. Jacobson and Alan Rappaport as Trustees
    of NFJ;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NCV:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the Common and Preferred Shareholders of NCV, voting together as
    a single class, have the right to vote on the re-election of
    Hans W. Kertess and William B. Ogden, IV as Trustees of NCV;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the Preferred Shareholders of NCV, voting as a separate class,
    have the right to vote on the election of James A. Jacobson and
    Alan Rappaport as Preferred Shares&#160;Trustees of NCV;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NCZ:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the Common and Preferred Shareholders of NCZ, voting together as
    a single class, have the right to vote on the re-election of
    Paul Belica and William B. Ogden, IV as Trustees of NCZ;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the Preferred Shareholders of NCZ, voting as a separate class,
    have the right to vote on the election of James A. Jacobson and
    Alan Rappaport as a Preferred Shares&#160;Trustee of NCZ;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NIE:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the Shareholders of NIE, voting as a single class, have the
    right to vote on the re-election of Paul Belica and R. Peter
    Sullivan&#160;III and the election of James A. Jacobson and Alan
    Rappaport as Trustees of NIE;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NAI:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the Shareholders of NAI, voting as a single class, have the
    right to vote on the re-election of R. Peter Sullivan&#160;III
    and the election of James A. Jacobson and Alan Rappaport as
    Trustees of NAI;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>PGP:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the Shareholders of PGP, voting as a single class, have the
    right to vote on the election of James A. Jacobson and Alan
    Rappaport and the re-election of R. Peter Sullivan&#160;III as
    Trustees of PGP;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>RCS:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the Shareholders of RCS, voting as a single class, have the
    right to vote on the election of James A. Jacobson and Alan
    Rappaport and the re-election of William B. Ogden, IV as
    Directors of RCS.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Summary</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="75%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Common<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Preferred<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Proposal</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shareholders</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shareholders</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Election of Trustees/Directors</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>NFJ</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><I>Independent Trustees/Nominees</I></B>*
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of Paul Belica
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of Hans W. Kertess
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of William B. Ogden, IV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of R. Peter Sullivan III
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>NCV</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><I>Independent Trustees/Nominees</I></B>*
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of Hans W. Kertess
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;</FONT>
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="75%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Common<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Preferred<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Proposal</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shareholders</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shareholders</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of William B. Ogden, IV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>NCZ</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><I>Independent Trustees/Nominees</I></B>*
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of Paul Belica
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of William B. Ogden, IV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>NIE</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><I>Independent Trustees/Nominees</I></B>*
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of Paul Belica
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of R. Peter Sullivan III
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>NAI</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><I>Independent Trustees/Nominees</I></B>*
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of R. Peter Sullivan III
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>PGP</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><I>Independent Trustees/Nominees</I></B>*
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of R. Peter Sullivan III
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>RCS</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><I>Independent Directors/Nominees</I></B>*
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Re-election of William B. Ogden, IV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Election of Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <FONT style="font-family: Wingdings; font-variant: normal">&#252;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    N/A
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    &#147;Independent Trustees/Directors&#148; or &#147;Independent
    Nominees&#148; are those Trustees/Directors or nominees who are
    not &#147;interested persons,&#148; as defined in the Investment
    Company Act of 1940, as amended (the &#147;1940 Act&#148;), of
    each Fund.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    You may vote by mail by returning a properly executed proxy
    card, by Internet, by going to the website listed on the proxy
    card, by telephone using the toll-free number listed on the
    proxy card or in person by attending the Meeting. Shares
    represented by duly executed and timely delivered proxies will
    be voted as instructed on the proxy. If you execute and mail the
    enclosed proxy and no choice is indicated for the election of
    Trustees/Directors listed in the attached Notice, your proxy
    will be voted in favor of the election of all nominees. At any
    time before it has been voted, your proxy may be revoked in one
    of the following ways: (i)&#160;by delivering a signed, written
    letter of revocation to the Secretary of the appropriate Fund at
    1345 Avenue of the Americas, New York, NY 10105, (ii)&#160;by
    properly executing and submitting a later-dated proxy vote, or
    (iii)&#160;by attending the Meeting and voting in person. If any
    proposal, other than the Proposal set forth herein, properly
    comes before the Meeting, including any adjournment thereof, the
    persons named as proxies will vote in their sole discretion.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The principal executive offices of the Funds are located at 1345
    Avenue of the Americas, New York, New York 10105. AGIFM serves
    as the investment manager of each Fund and retains its
    affiliates, NFJ Investment Group LLC (&#147;NFJ Group&#148;) to
    serve as a
    <FONT style="white-space: nowrap">sub-adviser</FONT>
    to NFJ, Oppenheimer Capital LLC (&#147;OpCap&#148;) to serve as
    a
    <FONT style="white-space: nowrap">sub-adviser</FONT>
    to NFJ, Nicholas-Applegate Capital Management LLC
    (&#147;NACM&#148;) to serve as a
    <FONT style="white-space: nowrap">sub-adviser</FONT>
    to NFJ, NIE, NAI, NCV and NCZ, and Pacific Investment Management
    Company LLC (&#147;PIMCO&#148;), to serve as the
    <FONT style="white-space: nowrap">sub-adviser</FONT>
    to PGP and RCS. PIMCO, NFJ Group, OpCap and NACM are
    collectively referred to as the
    <FONT style="white-space: nowrap">&#147;Sub-Advisers.&#148;</FONT>
    As discussed above, effective on or about August&#160;25, 2010,
    Allianz Global Investors Capital
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    LLC (&#147;AGIC&#148;) will be substituted for NACM and OpCap
    pursuant to the Novations, with corresponding name changes of
    the relevant funds. Additional information regarding the Manager
    and the
    <FONT style="white-space: nowrap">Sub-Advisers</FONT>
    may be found under &#147;Additional Information
    &#151;&#160;Investment Manager and
    <FONT style="white-space: nowrap">Sub-Advisers&#148;</FONT>
    below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The solicitation will be by mail primarily and the cost of
    soliciting proxies for a Fund will be borne individually by each
    Fund. Certain officers of the Funds and certain officers and
    employees of the Manager or its affiliates (none of whom will
    receive additional compensation therefore) may solicit proxies
    by telephone, mail,
    <FONT style="white-space: nowrap">e-mail</FONT> and
    personal interviews. Any out-of pocket expenses incurred in
    connection with the solicitation will be borne by each Fund
    based on its relative net assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As of May&#160;12, 2010, the Trustees<B>/</B>Directors and
    nominees and the officers of each Fund as a group and
    individually beneficially owned less than one percent (1%) of
    each Fund&#146;s outstanding Shares and, to the knowledge of the
    Funds, the following entities beneficially owned more than five
    percent (5%) of the Funds as indicated:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="62%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="28%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Beneficial Owner</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fund</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Percentage of Ownership of Class</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    UBS AG
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    NCV
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    50.54% of Preferred Shares
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    UBS AG
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    NCZ
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    47.43% of Preferred Shares
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    First Trust&#160;Portfolios L.P.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    NAI
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    14.1% of Common Shares
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Claymore Securities Inc.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    NAI
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    7.35% of Common Shares
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>


<!-- link1 "PROPOSAL: ELECTION OF TRUSTEES/DIRECTORS" -->
<DIV align="left"><A NAME="005"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PROPOSAL:
    ELECTION OF TRUSTEES/DIRECTORS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In accordance with RCS&#146; Articles of Incorporation, as
    amended (the &#147;Articles&#148;), and with each of the other
    Funds&#146; Amended and Restated Agreement and Declaration of
    Trust (each a &#147;Declaration&#148;), the Trustees/Directors
    have been divided into the following three classes (each a
    &#147;Class&#148;): Class&#160;&#160;I, Class&#160;II and
    Class&#160;III. In December 2009, the Boards of all the Funds
    appointed James A. Jacobson to each Fund&#146;s Board to fill a
    vacancy resulting from the resignation of Diana L. Taylor as a
    Class&#160;I Director of RCS and a Class&#160;II Trustee of the
    other Funds. In December 2009, Mr.&#160;Jacobson was appointed
    by the Board to serve as a Preferred Shares&#160;Trustee of NCV
    and NCZ to fill a vacancy that resulted from the resignation of
    Ms.&#160;Taylor, who served as a Trustee elected by the
    Preferred Shareholders, voting as a separate class, of each of
    those Funds. In April 2010, the Boards of all the Funds
    appointed Alan Rappaport to the boards and to serve as a
    Preferred Shares&#160;Trustee of NCV and NCZ to fill a vacancy
    that resulted from the death of Robert E. Connor, to take effect
    June&#160;22, 2010. Accordingly, the Nominating Committee has
    recommended Messrs.&#160;Jacobson and Rappaport for election by
    the Preferred Shareholders of NCV and NCZ, voting as a separate
    class, as Preferred Shares&#160;Trustees of those Funds, and has
    recommended Messrs.&#160;Jacobson and Rappaport for election by
    the Shareholders of NFJ, NIE, NAI, PGP and RCS as a Trustee or
    Director, as applicable, of those Funds. The Nominating
    Committee has recommended the other nominees listed herein for
    re-election by the Shareholders as Trustees/Directors to the
    Funds, as applicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NFJ.</B>&#160;&#160;With respect to NFJ, the term of office
    of the Class&#160;II Trustees will expire at the Meeting; the
    term of office of the Class&#160;III Trustees will expire at the
    2011 annual meeting of shareholders; and the term of office of
    the Class&#160;I Trustees will expire at the 2012 annual meeting
    of shareholders. Due to an administrative error in 2009, both
    the Class&#160;I and Class&#160;II Trustees of NFJ are being
    nominated for re-election (or for election with respect to
    Messrs.&#160;Jacobson and Rappaport) at the Meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Currently, R. Peter Sullivan&#160;III is the Class&#160;II
    Trustee on the Board. The Nominating Committee has recommended
    to the Board that Mr.&#160;Sullivan be nominated for re-election
    and Messrs.&#160;Jacobson and Rappaport be nominated for
    election by Shareholders as a Class&#160;II and Class&#160;III
    Trustee, respectively, at the Meeting. Consistent with the
    Fund&#146;s Declaration, if elected, the nominees shall hold
    office for term coinciding with the Class of Trustees to which
    they have been designated. Therefore, if elected at the Meeting,
    Messrs.&#160;Jacobson and Sullivan will serve a term consistent
    with the Class&#160;II Trustees, which will expire at the
    Fund&#146;s 2013 annual meeting. If elected at the Meeting,
    Mr.&#160;Rappaport will serve a term consistent with the
    Class&#160;III Trustees, which will expire at the Fund&#146;s
    2011 annual meeting. If elected at the Meeting,
    Messrs.&#160;Belica,
</DIV>
<!-- XBRL Paragraph Pagebreak -->
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Kertess and Ogden will serve a term consistent with the
    Class&#160;I Trustees, which will expire at the Fund&#146;s 2012
    annual meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NCV.</B>&#160;&#160;With respect to NCV, the term of office
    of the Class&#160;I Trustees will expire at the Meeting; the
    term of office of the Class&#160;II Trustees will expire at the
    2011 annual meeting of shareholders; and the term of office of
    the Class&#160;III Trustees will expire at the 2012 annual
    meeting of shareholders. Currently, Hans W. Kertess and William
    B. Ogden, IV are Class&#160;I Trustees. The Nominating Committee
    has recommended to the Board that Messrs.&#160;Kertess and Ogden
    be nominated for re-election by the Common and Preferred
    Shareholders, voting as a single class, as Class&#160;I Trustees
    and Messrs.&#160;Jacobson and Rappaport be nominated for
    election by the Preferred Shareholders, voting as a separate
    class, as a Class&#160;II and Class&#160;I Preferred
    Shares&#160;Trustee, respectively, at the Meeting. Consistent
    with the Fund&#146;s Declaration, if elected, the nominees shall
    hold office for terms coinciding with the Classes of Trustees to
    which they have been designated. Therefore, if elected at the
    Meeting, Messrs.&#160;Kertess, Ogden and Rappaport will serve a
    term consistent with the Class&#160;I Trustees, which will
    expire at the Fund&#146;s 2013 annual meeting. If elected at the
    Meeting, Mr.&#160;Jacobson will serve a term consistent with the
    Class&#160;II Trustees, which will expire at the Fund&#146;s
    2011 annual meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NCZ.</B>&#160;&#160;With respect to NCZ, the term of office
    of the Class&#160;I Trustees will expire at the Meeting; the
    term of office of the Class&#160;II Trustees will expire at the
    2011 annual meeting of shareholders; and the term of office of
    the Class&#160;III Trustees will expire at the 2012 annual
    meeting of shareholders. Currently, Paul Belica and William B.
    Ogden, IV are Class&#160;I Trustees. The Nominating Committee
    has recommended to the Board that Messrs.&#160;Belica and Ogden
    be nominated for re-election by the Common and Preferred
    Shareholders, voting as a single class, as Class&#160;I Trustees
    and Messrs.&#160;Jacobson and Rappaport be nominated for
    election by the Preferred Shareholders, voting as a separate
    class, as a Class&#160;II and Class&#160;I Preferred
    Shares&#160;Trustee, respectively, at the Meeting. Consistent
    with the Fund&#146;s Declaration, if elected, the nominees shall
    hold office for terms coinciding with the Classes of Trustees to
    which they have been designated. Therefore, if elected at the
    Meeting, Messrs.&#160;Belica, Ogden and Rappaport will serve a
    term consistent with the Class&#160;I Trustees, which will
    expire at the Fund&#146;s 2013 annual meeting. If elected at the
    Meeting, Mr.&#160;Jacobson will serve a term consistent with the
    Class&#160;II Trustees, which will expire at the Fund&#146;s
    2011 annual meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NIE.</B>&#160;&#160;With respect to NIE, the term of office
    of the Class&#160;III Trustees will expire at the Meeting; the
    term of office of the Class&#160;I Trustees will expire at the
    2011 annual meeting of shareholders; and the term of office of
    the Class&#160;II Trustees will expire at the 2012 annual
    meeting of shareholders. Currently, Paul Belica and R. Peter
    Sullivan&#160;III are the Class&#160;III Trustees on the Board.
    The Nominating Committee has recommended to the Board that
    Messrs.&#160;Belica and Sullivan be nominated for re-election as
    Class&#160;III Trustees and Messrs.&#160;Jacobson and Rappaport
    be nominated for election by Shareholders as the Class&#160;II
    and Class&#160;I Trustee, respectively, at the Meeting.
    Consistent with the Fund&#146;s Declaration, if elected, the
    nominees shall hold office for term coinciding with the Class of
    Trustees to which they have been designated. Therefore, if
    elected at the Meeting, Messrs.&#160;Belica and Sullivan will
    serve a term consistent with the Class&#160;III Trustees, which
    will expire at the Fund&#146;s 2013 annual meeting. If elected
    at the Meeting, Mr.&#160;Jacobson will serve a term consistent
    with the Class&#160;II Trustees, which will expire at the
    Fund&#146;s 2012 annual meeting and if elected at the Meeting,
    Mr.&#160;Rappaport will serve a term consistent with the
    Class&#160;I Trustees, which will expire at the Fund&#146;s 2011
    annual meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>NAI.</B>&#160;&#160;With respect to NAI, the term of office
    of the Class&#160;II Trustees will expire at the Meeting; the
    term of office of the Class&#160;III Trustees will expire at the
    2011 annual meeting of shareholders; and the term of office of
    the Class&#160;I Trustees will expire at the 2012 annual meeting
    of shareholders. Currently, R. Peter Sullivan&#160;III is the
    Class&#160;II Trustee on the Board. The Nominating Committee has
    recommended to the Board that Mr.&#160;Sullivan be nominated for
    re-election by Shareholders as a Class&#160;II Trustee and
    Messrs.&#160;Jacobson and Rappaport each be nominated for
    election by Shareholders as a Class&#160;II and Class&#160;III
    Trustee, respectively, at the Meeting. Consistent with the
    Fund&#146;s Declaration, if elected, the nominees shall hold
    office for the term coinciding with the Class of Trustees to
    which they have been designated. Therefore, if elected at the
    Meeting, Messrs.&#160;Jacobson and Sullivan will serve a term
    consistent with the Class&#160;II Trustees, which will expire at
    the Fund&#146;s 2013 annual meeting. If elected at the Meeting,
    Mr.&#160;Rappaport will serve a term consistent with the
    Class&#160;III Trustees, which will expire at the Fund&#146;s
    2011 annual meeting.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>PGP.</B>&#160;&#160;With respect to PGP, the term of office
    of the Class&#160;II Trustees will expire at the Meeting; the
    term of office of the Class&#160;III Trustees will expire at the
    2011 annual meeting of shareholders; and the term of office of
    the Class&#160;I Trustees will expire at the 2012 annual meeting
    of shareholders. Currently, R. Peter Sullivan&#160;III is the
    Class&#160;II Trustee on the Board. The Nominating Committee has
    recommended to the Board that Mr.&#160;Sullivan be nominated for
    re-election by Shareholders as a Class&#160;II Trustee and
    Messrs.&#160;Jacobson and Rappaport each be nominated for
    election by Shareholders as a Class&#160;II and Class&#160;III
    Trustee, respectively, at the Meeting. Consistent with the
    Fund&#146;s Declaration, if elected, the nominees shall hold
    office for term coinciding with the Class of Trustees to which
    they have been designated. Therefore, if elected at the Meeting,
    Messrs.&#160;Jacobson and Sullivan will serve a term consistent
    with the Class&#160;II Trustees, which will expire at the
    Fund&#146;s 2013 annual meeting. If elected at the Meeting,
    Mr.&#160;Rappaport will serve a term consistent with the
    Class&#160;III Trustees, which will expire at the Fund&#146;s
    2011 annual meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>RCS.</B>&#160;&#160;With respect to RCS, the term of office
    of the Class&#160;I Directors will expire at the Meeting; the
    term of office of the Class&#160;II Directors will expire at the
    2011 annual meeting of shareholders; and the term of office of
    the Class&#160;III Directors will expire at the 2012 annual
    meeting of shareholders. Currently, William B. Ogden, IV is the
    Class&#160;I Director on the Board. The Nominating Committee has
    recommended to the Board that Mr.&#160;Ogden be nominated for
    re-election by Shareholders as a Class&#160;I Director and
    Messrs.&#160;Jacobson and Rappaport each be nominated for
    election by Shareholders as a Class&#160;I and Class&#160;III
    Director, respectively, at the Meeting. Consistent with the
    Fund&#146;s Articles, if elected, the nominees shall hold office
    for terms coinciding with the Classes of Directors to which they
    have been designated. Therefore, if elected at the Meeting,
    Messrs.&#160;Jacobson and Ogden will serve a term consistent
    with the Class&#160;I Directors, which will expire at the
    Fund&#146;s 2013 annual meeting, and Mr.&#160;Rappaport will
    serve a term consistent with the Class&#160;III Directors, which
    will expire at the Fund&#146;s 2012 annual meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    All members of each Board of NCV, NCZ, NFJ, NIE, NAI and PGP are
    and will remain, if elected, &#147;Continuing Trustees,&#148; as
    such term is defined in the Declarations of those Funds, having
    either served as Trustee since the inception of the Funds or
    having been nominated by at least a majority of the Continuing
    Trustees then members of the Boards.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    At any annual meeting of shareholders, any Trustee/Director
    elected to fill a vacancy that has arisen since the preceding
    annual meeting of shareholders (whether or not such vacancy has
    been filled by election of a new Trustee/Director by the Board)
    shall hold office for a term that coincides with the remaining
    term of the Class of Trustees/Directors to which such office was
    previously assigned, if such vacancy arose other than by an
    increase in the number of Trustees/Directors, and until his or
    her successor shall be elected and shall qualify. In the event
    such vacancy arose due to an increase in the number of
    Trustees/Directors, any Trustee/Director so elected to fill such
    vacancy at an annual meeting shall hold office for a term which
    coincides with that of the Class of Trustee/Director to which
    such office has been apportioned and until his or her successor
    shall be elected and shall qualify.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table summarizes the nominees who will stand for
    election at the Meeting, the respective Classes of
    Trustees/Directors to which they have been designated and the
    expiration of their respective terms if elected:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="62%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="25%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Trustee/Director/Nominee</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Class</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Expiration of Term if Elected*</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>NFJ</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Paul Belica
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2012 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Hans W. Kertess
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2012 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William B. Ogden, IV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2012 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    R. Peter Sullivan III
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class III
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2011 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>NCV</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Hans W. Kertess
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William B. Ogden, IV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
</TABLE>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="62%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="25%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Trustee/Director/Nominee</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Class</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Expiration of Term if Elected*</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2011 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>NCZ</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Paul Belica
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William B. Ogden, IV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2011 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>NIE</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2011 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2012 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Paul Belica
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class III
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    R. Peter Sullivan III
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class III
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>NAI</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    R. Peter Sullivan III
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class III
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2011 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>PGP</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    R. Peter Sullivan III
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class III
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2011 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>RCS</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William B. Ogden, IV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2013 Annual Meeting
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Class III
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2012 Annual Meeting
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    A Trustee of NFJ, NCV, NCZ, NIE, NAI and PGP elected at an
    annual meeting shall hold office until the annual meeting for
    the year in which his or her term expires and until his or her
    successor shall be elected and shall qualify, subject, however,
    to prior death, resignation, retirement, disqualification or
    removal from office. A Director of RCS elected at an annual
    meeting shall hold office until his or her successor is elected
    and qualified.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Under this classified Board structure, generally only those
    Trustees/Directors in a single Class may be replaced in any one
    year, and it would require a minimum of two years to change a
    majority of the Board under normal circumstances. This
    structure, which may be regarded as an &#147;anti-takeover&#148;
    provision, may make it more difficult for a Fund&#146;s
    Shareholders to change the majority of Trustees/Directors of the
    Fund and, thus, promotes the continuity of management.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Unless authority is withheld, it is the intention of the persons
    named in the enclosed proxy for a Fund to vote each proxy for
    the persons listed above for that Fund. Each of the nominees has
    indicated he or she will serve if elected, but if he or she
    should be unable to serve for a Fund, the proxy holders may vote
    in favor of such substitute nominee as the Board may designate
    (or, alternatively, the Board may determine to leave a vacancy).
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Trustees/Directors
    and Officers</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The business of each Fund is managed under the direction of the
    Fund&#146;s Board of Trustees/Directors. Subject to the
    provisions of the Fund&#146;s Declaration/Articles, its By-Laws
    and applicable state law, the Trustees/Directors have all powers
    necessary and convenient to carry out this responsibility,
    including the election and removal of the Fund&#146;s officers.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    8
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Board Leadership Structure</B>&#160;&#151; If the nominees
    are elected as proposed, the Board of Trustees/Directors of each
    Fund will consist of seven Trustees/Directors, six of whom are
    not &#147;interested persons&#148; (within the meaning of
    Section&#160;2(a)(19) of the 1940 Act) of the Fund or of the
    Manager (the &#147;Independent Trustees/Directors&#148;). An
    Independent Trustee/Director serves as Chairman and is selected
    by vote of the majority of the Independent Trustees/Directors.
    The Chairman presides at meetings of the Board and acts as a
    liaison with service providers, officers, attorneys and other
    Trustees/Directors generally between meetings, and performs such
    other functions as may be requested by the Board from time to
    time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of Trustees/Directors meets regularly four times each
    year to discuss and consider matters concerning the Funds, and
    also holds special meetings to address matters arising between
    regular meetings. The Independent Trustees/Directors regularly
    meet outside the presence of management and are advised by
    independent legal counsel. Regular meetings generally take place
    in-person; other meetings may take place in-person or by
    telephone.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of Trustees/Directors has established four standing
    Committees to facilitate oversight of the management of the
    Funds: the Audit Oversight Committee, the Nominating Committee,
    the Valuation Committee and the Compensation Committee. The
    functions and role of each Committee are described below under
    &#147;&#151;&#160;Committees of the Board of
    Trustees/Directors.&#148; The membership of each Committee
    consists of all of the Independent Trustees/Directors, which the
    Board believes allows them to participate in the full range of
    the Board&#146;s oversight duties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board reviews its leadership structure periodically and has
    determined that this leadership structure, including an
    Independent Chairman, a supermajority of Independent
    Trustees/Directors and Committee membership limited to
    Independent Trustees/Directors, is appropriate in light of the
    characteristics and circumstances of each Fund. In reaching this
    conclusion, the Board considered, among other things, the
    predominant role of the Manager and
    <FONT style="white-space: nowrap">Sub-Advisers</FONT>
    in the
    <FONT style="white-space: nowrap">day-to-day</FONT>
    management of Fund affairs, the extent to which the work of the
    Board is conducted through the Committees, the number of
    portfolios that comprise the Fund&#160;Complex (defined below),
    the variety of asset classes those portfolios include, the net
    assets of each Fund, and the Fund&#160;Complex and the
    management and other service arrangements of each Fund and the
    Fund&#160;Complex. The Board also believes that its structure,
    including the presence of one Trustee/Director who is an
    executive with various Manager-affiliated entities, facilitates
    an efficient flow of information concerning the management of
    each Fund to the Independent Trustees/Directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Risk Oversight</B>&#160;&#151; Each of the Funds has retained
    the Manager and the applicable
    <FONT style="white-space: nowrap">Sub-Adviser</FONT>
    to provide investment advisory services, and, in the case of the
    Manager, to oversee the Fund&#146;s business affairs and
    administrative matters, and these service providers are
    principally responsible for the management of risks that may
    arise from Fund investments and operations. Some employees of
    the Manager serve as the Funds&#146; officers, including the
    Trust&#146;s principal executive officer and principal financial
    and accounting officer. The Board oversees the performance of
    these functions by the Manager and
    <FONT style="white-space: nowrap">Sub-Advisers,</FONT>
    both directly and through the Committee structure it has
    established. The Board receives from the Manager and
    <FONT style="white-space: nowrap">Sub-Advisers</FONT>
    a wide range of reports, both on a regular and as-needed basis,
    relating to the Funds&#146; activities and to the actual and
    potential risks of the Funds and the Trust as a whole. These
    include reports on investment risks, compliance with applicable
    laws, and the Funds&#146; financial accounting and reporting. In
    addition, the Board meets periodically with the individual
    portfolio managers of the Funds to receive reports regarding the
    portfolio management of the Funds and their performance,
    including their investment risks.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In addition, the Board has appointed a Chief Compliance Officer
    (&#147;CCO&#148;). The CCO oversees the development of
    compliance policies and procedures that are reasonably designed
    to minimize the risk of violations of the federal securities
    laws (&#147;Compliance Policies&#148;). The CCO reports directly
    to the Independent Trustees/Directors, and provides
    presentations to the Board at its quarterly meetings and an
    annual report on the application of the Compliance Policies. The
    Board periodically discusses relevant risks affecting the Funds
    with the CCO at these meetings. The Board has approved the
    Compliance Policies and reviews the CCO&#146;s reports. Further,
    the Board annually reviews the sufficiency of the Compliance
    Policies, as well as the appointment and compensation of the CCO.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    9
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Information
    Regarding Trustees/Directors and Nominees.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table provides information concerning the
    Trustees<B>/</B>Directors /Nominees of the Funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="20%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="17%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=06 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Portfolios in<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Fund<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Other<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Complex<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Directorships<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Overseen by<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Held by<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name, Address*,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Position(s)<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Term of Office<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Trustee/<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Trustee/<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Date of Birth<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Held with<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>and Length of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Principal<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Director<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Director<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>and Class</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>the Funds</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Time Served</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Occupation(s) During the Past 5&#160;Years</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Nominee</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Nominee</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD colspan="3" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Independent Trustees/Directors/Nominees</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Paul Belica 09/27/1921<BR>
    <BR>
    NCV&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    NCZ&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NFJ&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NIE&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    <BR>
    NAI&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    PGP&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    RCS&#160;&#151; Class&#160;III
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Nominee,<BR>
    Trustee<BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    NCV&#160;&#151; Since March&#160;2003 <BR>
    <BR>
    NCZ&#160;&#151; Since December 2003 <BR>
    <BR>
    NFJ&#160;&#151; Since September 2005 <BR>
    <BR>
    NIE&#160;&#151; Since inception (February&#160;2007) <BR>
    <BR>
    NAI&#160;&#151; Since September 2005 <BR>
    <BR>
    PGP&#160;&#151; Since September 2005 <BR>
    <BR>
    RCS&#160;&#151; Since June&#160;2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Retired. Formerly Director, Student Loan Finance Corp.,
    Education Loans, Inc., Goal Funding, Inc., Goal Funding II, Inc.
    and Surety Loan Fund, Inc.; and formerly, Manager of Stratigos
    Fund LLC, Whistler Fund LLC, Xanthus Fund LLC &#038; Wynstone
    Fund LLC.  Trustee of the funds in the Allianz/PIMCO Fund
    Complex since 2000.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    49
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None.
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    James A. Jacobson 02/03/1945 <BR>
    <BR>
    NCV&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    NCZ&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    NFJ&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    NIE&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    NAI&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    PGP&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    RCS&#160;&#151; Class&#160;I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    NCV&#160;&#151; Since December 2009 <BR>
    <BR>
    NCZ&#160;&#151; Since December 2009 <BR>
    <BR>
    NFJ&#160;&#151; Since December 2009 <BR>
    <BR>
    NIE&#160;&#151; Since December 2009 <BR>
    <BR>
    NAI&#160;&#151; Since December 2009 <BR>
    <BR>
    PGP&#160;&#151; Since December 2009 <BR>
    <BR>
    RCS&#160;&#151; Since December 2009
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Retired. Formerly, Vice Chairman and Managing Director of Spear,
    Leeds &#038; Kellogg Specialists, LLC, a specialist firm on the
    New York Stock Exchange. Trustee of the funds in the
    Allianz/PIMCO Fund Complex since&#160;2009.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    44
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Trustee, Alpine<BR>
    Mutual Funds<BR>
    Complex consisting<BR>
    of 16 funds
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    10
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="20%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="17%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=06 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Portfolios in<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Fund<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Other<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Complex<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Directorships<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Overseen by<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Held by<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name, Address*,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Position(s)<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Term of Office<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Trustee/<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Trustee/<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Date of Birth<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Held with<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>and Length of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Principal<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Director<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Director<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>and Class</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>the Funds</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Time Served</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Occupation(s) During the Past 5&#160;Years</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Nominee</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Nominee</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
    Hans W. Kertess 07/12/1939 <BR>
    <BR>
    <BR>
    NCV&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NCZ&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    NFJ&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NIE&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NAI&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    PGP&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    RCS&#160;&#151; Class&#160;II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Trustee and Chairman of the Board <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    <BR>
    NCV&#160;&#151; Since February 2004 <BR>
    <BR>
    NCZ&#160;&#151; Since July&#160;2003 <BR>
    <BR>
    NFJ&#160;&#151; Since inception (February&#160;2005) <BR>
    <BR>
    NIE&#160;&#151; Since inception (February&#160;2007) <BR>
    <BR>
    NAI&#160;&#151; Since April&#160;2005 <BR>
    <BR>
    PGP&#160;&#151; Since May&#160;2005 <BR>
    <BR>
    RCS&#160;&#151; Since June&#160;2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    President, H. Kertess &#038; Co., a financial advisory company;
    formerly, Managing Director, Royal Bank of Canada Capital
    Markets. Trustee of the funds in the Allianz/PIMCO Fund Complex
    since 2000.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    49
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None.
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    William B. Ogden, IV 01/11/1945 <BR>
    <BR>
    <BR>
    NCV&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NCZ&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NFJ&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NIE&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NAI&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    PGP&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    RCS&#160;&#151; Class&#160;I
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Nominee,<BR>
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    <BR>
    NCV&#160;&#151; Since September 2006 <BR>
    <BR>
    NCZ&#160;&#151; Since September 2006 <BR>
    <BR>
    NFJ&#160;&#151; Since September 2006<BR>
    <BR>
    NIE&#160;&#151; Since June&#160;2007 <BR>
    <BR>
    Since September&#160;2006 <BR>
    <BR>
    <BR>
    Since September&#160;2006 <BR>
    <BR>
    <BR>
    Since June 2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Asset Management Industry Consultant. Formerly, Managing
    Director, Investment Banking Division of Citigroup Global
    Markets Inc. Trustee of the funds in the Allianz/PIMCO Fund
    Complex since 2007.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    49
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None.
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    11
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="20%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="17%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=06 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Portfolios in<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Fund<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Other<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Complex<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Directorships<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Overseen by<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Held by<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name, Address*,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Position(s)<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Term of Office<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Trustee/<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Trustee/<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Date of Birth<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Held with<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>and Length of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Principal<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Director<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Director<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>and Class</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>the Funds</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Time Served</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Occupation(s) During the Past 5&#160;Years</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Nominee</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Nominee</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
    R. Peter Sullivan&#160;III 09/04/1941<BR>
    <BR>
    <BR>
    NCV&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    NCZ&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    NFJ&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    NIE&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    NAI&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    PGP&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    RCS&#160;&#151; Class&#160;II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee<BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    <BR>
    NCV&#160;&#151; Since June&#160;2004 <BR>
    <BR>
    NCZ&#160;&#151; Since September 2004 <BR>
    <BR>
    NFJ&#160;&#151; Since May&#160;2006 <BR>
    <BR>
    NIE&#160;&#151; Since June&#160;2007 <BR>
    <BR>
    NAI&#160;&#151; Since July&#160;2006 <BR>
    <BR>
    PGP&#160;&#151; Since July&#160;2006 <BR>
    <BR>
    RCS&#160;&#151; Since June&#160;2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Retired. Formerly, Managing Partner, Bear Wagner Specialists
    LLC, a specialist firm on the New York Stock Exchange. Trustee
    of the funds in the Allianz/PIMCO Fund Complex since 2002.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    49
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None.
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Alan Rappaport 03/13/1953<BR>
    <BR>
    <BR>
    NCV&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NCZ&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NFJ&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    NIE&#160;&#151; Class&#160;I <BR>
    <BR>
    <BR>
    NAI&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    PGP&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    RCS&#160;&#151; Class&#160;III
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    <BR>
    Nominee, <BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Trustee <BR>
    <BR>
    Nominee,<BR>
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    <BR>
    NCV&#160;&#151; Since June&#160;2010 <BR>
    <BR>
    NCZ&#160;&#151; Since June&#160;2010 <BR>
    <BR>
    NFJ&#160;&#151; Since June&#160;2010 <BR>
    <BR>
    NIE&#160;&#151; Since June&#160;2010 <BR>
    <BR>
    NAI&#160;&#151; Since June&#160;2010 <BR>
    <BR>
    PGP&#160;&#151; Since June&#160;2010 <BR>
    <BR>
    RCS&#160;&#151; Since June&#160;2010
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Vice Chairman, Roundtable Investment Partners since 2009;
    Chairman  (formerly President), Private Banking Division of Bank
    of America; Vice Chairman, US Trust (2001-2008). Trustee of the
    funds in the Allianz/PIMCO Fund Complex since 2010.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    44
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    12
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="20%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="17%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=06 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Portfolios in<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Fund<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Other<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Complex<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Directorships<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Overseen by<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Held by<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name, Address*,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Position(s)<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Term of Office<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Trustee/<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Trustee/<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Date of Birth<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Held with<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>and Length of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Principal<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Director<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Director<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>and Class</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>the Funds</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Time Served</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Occupation(s) During the Past 5&#160;Years</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Nominee</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Nominee</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD colspan="3" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Interested Trustee/Director /Nominee</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    John C.
    Maney<SUP style="font-size: 85%; vertical-align: top">&#134;</SUP>

    08/03/1959<BR>
    <BR>
    NCV&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    NCZ&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    NFJ&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    NIE&#160;&#151; Class&#160;II <BR>
    <BR>
    <BR>
    NAI&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    PGP&#160;&#151; Class&#160;III <BR>
    <BR>
    <BR>
    RCS&#160;&#151; Class&#160;II
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Trustee <BR>
    <BR>
    <BR>
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <BR>
    <BR>
    <BR>
    NCV&#160;&#151; Since December 2006 <BR>
    <BR>
    NCZ&#160;&#151; Since December 2006 <BR>
    <BR>
    NFJ&#160;&#151; Since December 2006 <BR>
    <BR>
    NIE&#160;&#151; Since inception (February&#160;2007)<BR>
    <BR>
    NAI&#160;&#151; Since December 2006 <BR>
    <BR>
    PGP&#160;&#151; Since December 2006 <BR>
    <BR>
    RCS&#160;&#151; Since June&#160;2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Management Board of Allianz Global Investors Fund Management
    LLC; Management Board and Managing Director of Allianz Global
    Investors of America L.P. since January 2005 and also Chief
    Operating Officer of Allianz Global Investors of America L.P.
    since November 2006. Trustee of the funds in the Allianz/PIMCO
    Fund Complex since 2006.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    78
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    Unless otherwise indicated, the business address of the persons
    listed above is
    <FONT style="white-space: nowrap">c/o&#160;Allianz</FONT>
    Global Investors Fund&#160;Management LLC, 1345 Avenue of the
    Americas, New York, New York 10105.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    &#134; </TD>
    <TD></TD>
    <TD valign="bottom">
    Mr.&#160;Maney is an &#147;interested person&#148; of the Fund
    due to his affiliation with Allianz Global Investors of America
    L.P. Mr.&#160;Maney is an &#147;interested person&#148; of the
    Fund due to his affiliation with Allianz Global Investors of
    America L.P. In addition to Mr.&#160;Maney&#146;s positions set
    forth in the table above, he holds the following positions with
    affiliated persons: Management Board, Managing Director and
    Chief Operating Officer of Allianz Global Investors of America
    L.P. and Allianz Global Investors of America LLC;
    Member&#160;&#151; Board of Directors and Chief Operating
    Officer of Allianz Global Investors of America Holdings Inc. and
    Oppenheimer Group, Inc.; Managing Director and Chief Operating
    Officer of Allianz Global Investors NY Holdings LLC; Management
    Board and Managing Director of Allianz Global Investors U.S.
    Holding LLC; Managing Director and Chief Operating Officer of
    Allianz Hedge Fund&#160;Partners Holding L.P. and Allianz Global
    Investors U.S. Retail LLC; Member&#160;&#151; Board of Directors
    and Managing Director of Allianz Global Investors Advertising
    Agency Inc.; Compensation Committee of NFJ Investment Group LLC;
    Management Board of Allianz Global Investors
    Fund&#160;Management LLC, Allianz Global Investors Managed
    Partners LLC, and Nicholas-Applegate Holdings LLC;
    Member&#160;&#151; Board of Directors and Chief Operating
    Officer of PIMCO Global Advisors (Resources) Limited; Executive
    Vice President of PIMCO Japan Ltd.; Chief Operating Officer of
    Allianz Global Investors U.S. Holding&#160;II LLC; and Member
    and Chairman&#160;&#151; Board of Directors, President and Chief
    Operating Officer of PFP Holdings, Inc.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    13
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table states the dollar range of equity securities
    beneficially owned as of May&#160;12, 2010 by each
    Trustee<B>/</B>Director and nominee of each Fund and, on an
    aggregate basis, of any registered investment companies overseen
    by the Trustee<B>/</B>Director or nominee in the &#147;family of
    investment companies,&#148; including the Funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="36%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="18%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="41%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Aggregate Dollar Range of Equity Securities in all<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Registered Investment Companies Overseen by<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Dollar Range of Equity<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Trustee/Directors/Nominee in the Family of Investment<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name of Trustee/Director/Nominee</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Securities in the Funds*</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Companies(1)</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD colspan="3" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Independent Trustees/Directors/Nominees</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Paul Belica
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Robert E. Connor(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James A. Jacobson
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Hans W. Kertess
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Over $100,000
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William B. Ogden, IV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Alan Rappaport
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    R. Peter Sullivan III
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    NAI - $1 - $10,000
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    $10,001 - $50,000
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Diana L. Taylor(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Interested Trustee/Director/Nominee</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John C. Maney
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    None
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    $10,001 - $50,000
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Securities are valued as of May&#160;12, 2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Robert E. Connor served as a Trustee/Director of the Funds until
    his death on April&#160;8, 2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Diana L. Taylor retired as a Trustee/Director of each Fund
    effective September&#160;10, 2009.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To the knowledge of the Funds, as of May&#160;12, 2010,
    Trustees/Directors and nominees who are Independent
    Trustees/Directors or Independent Nominees and their immediate
    family members did not own securities of an investment adviser
    or principal underwriter of the Funds or a person (other than a
    registered investment company) directly or indirectly
    controlling, controlled by, or under common control with an
    investment adviser or principal underwriter of the Funds.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <I><FONT style="font-family: 'Times New Roman', Times">Compensation.</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each of the Independent Trustees/Directors also serves as a
    trustee/director of PIMCO Municipal Income Fund, PIMCO
    California Municipal Income Fund, PIMCO New York Municipal
    Income Fund, PIMCO Municipal Income Fund&#160;II, PIMCO
    California Municipal Income Fund&#160;II, PIMCO New York
    Municipal Income Fund&#160;II, PIMCO Municipal Income
    Fund&#160;III, PIMCO California Municipal Income Fund&#160;III,
    PIMCO New York Municipal Income Fund&#160;III, PIMCO Corporate
    Income Fund, PIMCO Corporate Opportunity Fund, PIMCO High Income
    Fund, PIMCO Income Opportunity Fund, PIMCO Income Strategy Fund,
    PIMCO Income Strategy Fund&#160;II, Nicholas-Applegate Global
    Equity&#160;&#038; Convertible Income Fund, and PCM Fund, Inc.,
    each a closed-end fund for which the Manager serves as
    investment manager and affiliates of the Manager serve as
    <FONT style="white-space: nowrap">sub-adviser</FONT>
    (together, the &#147;Allianz Closed-End Funds&#148;) and certain
    other open-end investment companies for which the Manager serves
    as investment manager and administrator and affiliates of the
    Manager serve as investment
    <FONT style="white-space: nowrap">sub-advisers</FONT>
    (together with the Allianz Closed-End Funds, the &#147;Allianz
    Managed Funds&#148;). As indicated below, certain of the
    officers of the Funds are affiliated with the Manager.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each of the Allianz Managed Funds are expected to hold joint
    meetings of their Boards of Trustees/Directors whenever
    possible. Each Trustee/Director, other than any Trustee/Director
    who is a director, officer, partner or employee of the Manager,
    NFJ Group, NACM, OpCap, PIMCO or any entity controlling,
    controlled by or under common control with the Manager, NFJ
    Group, NACM, OpCap or PIMCO receives annual compensation of
    $250,000, which is payable quarterly. The Independent Chairman
    of the Boards receives an additional $75,000 per year, payable
    quarterly. The Audit Oversight Committee Chairman annually
    receives an additional $50,000, payable quarterly.
    Trustees<B>/</B>Directors will also be reimbursed for
    meeting-related expenses.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    14
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each Trustee/Director&#146;s compensation and other costs of
    joint meetings will be allocated pro rata among the Allianz
    Managed Funds for which such Trustee/Director serves as
    Trustee/Director based on the complexity of issues relating to
    each such Fund and relative time spent by the Trustees/Directors
    in addressing them, and secondarily, on each such Fund&#146;s
    relative net assets (including assets attributable to any
    outstanding preferred shares issued by an Allianz Closed-End
    Fund).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Trustees<B>/</B>Directors do not currently receive any pension
    or retirement benefits from the Funds or the Fund&#160;Complex.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table provides information concerning the
    compensation paid to the Trustees/Directors and nominees for the
    fiscal years ended January&#160;31, 2010 for NFJ, NIE and RCS,
    February&#160;28, 2010 for NCV, NCZ and NAI, and March&#160;31,
    2010 for PGP. For the calendar year ended December&#160;31,
    2009, the Trustees/Directors received the compensation set forth
    in the table below for serving as trustees<B>/</B>directors of
    the Funds and other funds in the same
    &#147;Fund&#160;Complex&#148; as the Funds. Each officer and
    each Trustee/Director who is a director, officer, partner,
    member or employee of the Manager or the
    <FONT style="white-space: nowrap">Sub-Advisers,</FONT>
    or of any entity controlling, controlled by or under common
    control with the Manager or the
    <FONT style="white-space: nowrap">Sub-Advisers</FONT>
    including any Interested Trustee/Director, serves without any
    compensation from the Funds.
</DIV>


<!-- link1 "Compensation Table" -->
<DIV align="left"><A NAME="006"></A></DIV>


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Compensation
    Table</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="38%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="12%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="13%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Compensation<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Compensation<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>from&#160;NFJ for<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>from&#160;NIE for<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Compensation<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Compensation from<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>the Fiscal&#160;Year<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>the Fiscal&#160;Year<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>from&#160;RCS for<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>NAI for the Fiscal<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>the Fiscal&#160;Year<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>January&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>January&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended January&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>February&#160;28,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name of Trustee/Directors/Nominees</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD colspan="5" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Independent Trustees/Directors/Nominees</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Paul Belica
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    27,123
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,391
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,412
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Robert E. Connor(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    22,598
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,325
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,985
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,010
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James A. Jacobson(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    284
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    265
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    109
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Hans W. Kertess
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    29,405
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,929
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,486
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,615
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William B. Ogden, IV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    22,598
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,325
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,985
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,010
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    R. Peter Sullivan III
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    22,598
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,325
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,985
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,010
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Diana L. Taylor(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    16,819
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,915
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,668
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,470
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Alan Rappaport(4)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Interested Trustee/Director/Nominee</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John C. Maney
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    15
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
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<TR style="font-size: 1pt" valign="bottom">
    <TD width="35%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="17%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Total Compensation from<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>the Funds and<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Compensation<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Compensation<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Fund Complex Paid to<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>from NCV for<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>from NCZ for<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Compensation<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Trustees/Directors/<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>the Fiscal Year<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>the Fiscal Year<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>from PGP for<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Nominees for the<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>the Fiscal Year<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Calendar Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>February&#160;28,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>February&#160;28,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended March&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>December&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name of Trustee/Directors /Nominees</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009*</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD colspan="5" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Independent Trustees/Directors/Nominees</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Paul Belica
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    16,176
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,335
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,787
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    300,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Robert E. Connor(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,477
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,278
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,489
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    250,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James A. Jacobson(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    722
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    553
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    178
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,005
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Hans W. Kertess
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    17,537
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,373
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,937
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    325,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William B. Ogden, IV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,477
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,278
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,489
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    250,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    R. Peter Sullivan III
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,477
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,278
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,489
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    250,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Diana L. Taylor(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    9,888
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,530
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    606
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    168,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Alan Rappaport(4)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Interested Trustee/Director/Nominee</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John C. Maney
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    In addition to the AGIFM Closed-End Funds, during each
    Fund&#146;s most recently completed fiscal year, all of the
    Trustees/Directors served as Trustees/Directors of two open-end
    investment companies (each consisting of separate investment
    portfolios) advised by the Manager, except for Diana L. Taylor
    who served as a Trustee/Director to one of such open-end
    companies. These investment companies are considered to be in
    the same &#147;Fund Complex&#148; as the Funds.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Robert E. Connor served as a Trustee/Director of the Funds until
    his death on April&#160;8, 2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    James A. Jacobson&#146;s appointment as a Trustee/Director to
    each Fund was not effective until December&#160;14, 2009.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Diana L. Taylor&#146;s retired as a Trustee/Director of each
    Fund effective September&#160;10, 2009.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    Alan Rappaport&#146;s appointment as a Trustee/Director to each
    Fund will not be effective until June&#160;22, 2010.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Funds have no employees. The Funds&#146; officers and
    Mr.&#160;Maney are compensated by the Manager, the
    <FONT style="white-space: nowrap">Sub-Advisers</FONT>
    or one of their affiliates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Trustee Qualifications</B>&#160;&#151; The Board has
    determined that each Trustee/Director should continue to serve
    as such based on several factors (none of which alone is
    decisive). With the exception of Messrs.&#160;Jacobson and
    Rappaport, who became or will become Board members in December
    2009 and June 2010, respectively, each Trustee has served in
    such role for several years and is knowledgeable about the
    Funds&#146; business and service provider arrangements, and has
    also served for several years as trustee/director to a number of
    other investment companies advised by the Manager and its
    affiliates. Among the factors the Board considered when
    concluding that an individual should serve on the Board were the
    following: (i)&#160;the individual&#146;s business and
    professional experience and accomplishments; (ii)&#160;the
    individual&#146;s ability to work effectively with other members
    of the Board; (iii)&#160;the individual&#146;s prior experience,
    if any, serving on the boards of public companies (including,
    where relevant, other investment companies) and other complex
    enterprises and organizations; and (iv)&#160;how the
    individual&#146;s skills, experiences and attributes would
    contribute to an appropriate mix of relevant skills and
    experience on the Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In respect of each current Trustee/Director, the
    individual&#146;s substantial professional accomplishments and
    prior experience, including, in some cases, in fields related to
    the operations of the Funds, were a significant factor in the
    determination that the individual should serve as a
    Trustee/Director of the Funds.  Following is a summary of
    various qualifications, experiences and skills of each
    Trustee/Director (in addition to business experience during the
    past five years set forth in the table above) that contributed
    to the Board&#146;s conclusion that an individual should serve
    on the Board:
</DIV>
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    16
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Paul Belica</B>&#160;&#151; Mr.&#160;Belica has substantial
    executive and board experience in the financial services and
    investment management industries. He formerly served as director
    to several other investment companies. Having served as
    Director, Senior Vice President and Managing Director of Smith
    Barney, Harris Upham&#160;&#038; Co, he provides the Funds with
    significant financial expertise and serves as the Audit
    Oversight Committee&#146;s Chair and has been determined by the
    Board to be an &#147;audit committee financial expert.&#148; He
    also brings significant public sector experience, having
    formerly served as Chairman of the State of New York Mortgage
    Agency and as executive director of several related public
    authorities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>James A. Jacobson</B>&#160;&#151; Mr.&#160;Jacobson has
    substantial executive and board experience in the financial
    services industry. He served for more than 15&#160;years as a
    senior executive at an NYSE specialist firm. He has also served
    on the NYSE Board of Directors, including terms as Vice Chair.
    As such, he provides significant expertise on matters relating
    to portfolio brokerage and trade execution. He has expertise in
    investment company matters through his service as a trustee of
    another fund family.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Hans W. Kertess</B>&#160;&#151; Mr.&#160;Kertess has
    substantial executive experience in the investment management
    industry. He is the president of a financial advisory company,
    H. Kertess&#160;&#038; Co., and formerly served as a Managing
    Director of Royal Bank of Canada Capital Markets. He has
    significant expertise in the investment banking industry.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>John C. Maney</B>&#160;&#151; Mr.&#160;Maney has substantial
    executive and board experience in the investment management
    industry. He has served in a variety of senior-level positions
    with investment advisory firms affiliated with the Manager.
    Because of his familiarity with the Manager and affiliated
    entities, he serves as an important information resource for the
    Independent Trustees/Directors and as a facilitator of
    communication with the Manager.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>William B. Ogden, IV</B>&#160;&#151; Mr.&#160;Ogden has
    substantial senior executive experience in the investment
    banking industry. He served as Managing Director at Citigroup,
    where he established and led the firm&#146;s efforts to raise
    capital for and provide mergers and acquisition advisory
    services to asset managers and investment advisers. He also has
    significant expertise with fund products through his
    senior-level responsibility for originating and underwriting a
    broad variety of such products.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Alan Rappaport</B>&#160;&#151; Mr.&#160;Rappaport has
    substantial senior executive experience in the banking industry.
    He formerly served as Chairman and President of the private
    banking division of Bank of America and as Vice Chairman of
    U.S.&#160;Trust. He is currently the Vice Chairman of an
    investment banking firm.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>R.&#160;Peter Sullivan,&#160;III</B>&#160;&#151;
    Mr.&#160;Sullivan has substantial executive experience in the
    financial services industry. He formerly served as Managing
    Partner at an NYSE specialist firm, and provides the Trust with
    significant expertise relating to, among other areas, portfolio
    brokerage and trade execution.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Board
    Committees and Meetings.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Audit Oversight Committee.</B>&#160;&#160;The Board of each
    Fund has established an Audit Oversight Committee in accordance
    with Section&#160;3(a)(58)(A) of the Securities Exchange Act of
    1934, as amended (the &#147;Exchange Act&#148;). Each
    Fund&#146;s Audit Oversight Committee currently consists of
    Messrs.&#160;Belica, Jacobson, Kertess, Ogden and Sullivan, each
    of whom is an Independent Trustee<B>/</B>Director.
    Mr.&#160;Rappaport would be added as a member of the Audit
    Oversight Committee effective June&#160;22, 2010.
    Mr.&#160;Belica is the Chairman of each Fund&#146;s Audit
    Oversight Committee. Each Fund&#146;s Audit Oversight Committee
    provides oversight with respect to the internal and external
    accounting and auditing procedures of each Fund and, among other
    things, determines the selection of the independent registered
    public accounting firm for each Fund and considers the scope of
    the audit, approves all audit and permitted non-audit services
    proposed to be performed by those auditors on behalf of each
    Fund, and approves services to be performed by the auditors for
    certain affiliates, including the Manager, the
    <FONT style="white-space: nowrap">Sub-Adviser</FONT>
    and entities in a control relationship with the Manager or the
    <FONT style="white-space: nowrap">Sub-Adviser</FONT>
    that provide services to each Fund where the engagement relates
    directly to the operations and financial reporting of the Fund.
    The Committee considers the possible effect of those services on
    the independence of the Funds&#146; independent registered
    public accounting firm.
</DIV>
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    <BR>
    17
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each member of each Fund&#146;s Audit Oversight Committee is
    &#147;independent,&#148; as independence for audit committee
    members is defined in the currently applicable listing standards
    of the New York Stock Exchange, on which the Common Shares of
    each Fund are listed.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of each Fund has adopted a written charter for its
    Audit Oversight Committee. A copy of the written charter for
    each Fund, as amended through April&#160;6, 2010 is attached to
    this Proxy Statement as <U>Exhibit&#160;A</U>. A report of the
    Audit Oversight Committee of NFJ, NIE and RCS, dated
    March&#160;22, 2010, is attached to this Proxy Statement as
    <U><FONT style="white-space: nowrap">Exhibit&#160;B-1</FONT></U>.
    A report of the Audit Oversight Committee of NCV, NCZ and NAI,
    dated April&#160;19, 2010, is attached to this Proxy Statement
    as
    <U><FONT style="white-space: nowrap">Exhibit&#160;B-2</FONT></U>.
    A report of the Audit Oversight Committee of PGP, dated
    May&#160;24, 2010, is attached to this Proxy Statement as
    <U><FONT style="white-space: nowrap">Exhibit&#160;B-3</FONT></U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Nominating Committee.</B>&#160;&#160;The Board of each Fund
    has a Nominating Committee composed solely of Independent
    Trustees/Directors, currently consisting of Messrs.&#160;Belica,
    Jacobson, Kertess, Ogden and Sullivan. Mr.&#160;Rappaport would
    be added as a member of the Nominating Committee effective
    June&#160;22, 2010. The Nominating Committee is responsible for
    reviewing and recommending qualified candidates to the Board in
    the event that a position is vacated or created or when
    Trustees/Directors are to be nominated for election by
    shareholders. The Nominating Committee of each Fund has adopted
    a charter, which is posted on the following website:
    <U><FONT style="white-space: nowrap">http://www.allianzinvestors.com/closedendfunds/literature</FONT></U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each member of each Fund&#146;s Nominating Committee is
    &#147;independent,&#148; as independence for nominating
    committee members is defined in the currently applicable listing
    standards of the New York Stock Exchange, on which the Common
    Shares of each Fund are listed.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Qualifications, Evaluation and Identification of
    Trustee/Director Nominees.</B>&#160;&#160;The Nominating
    Committee of each Fund requires that Trustee<B>/</B>Director
    candidates have a college degree or equivalent business
    experience. When evaluating candidates, each Fund&#146;s
    Nominating Committee may take into account a wide variety of
    factors including, but not limited to: (i)&#160;availability and
    commitment of a candidate to attend meetings and perform his or
    her responsibilities on the Board, (ii)&#160;relevant industry
    and related experience, (iii)&#160;educational background,
    (iv)&#160;financial expertise, (v)&#160;an assessment of the
    candidate&#146;s ability, judgment and expertise and
    (vi)&#160;overall Board composition. The process of identifying
    nominees involves the consideration of candidates recommended by
    one or more of the following sources: (i)&#160;the Fund&#146;s
    current Trustees<B>/</B>Directors, (ii)&#160;the Fund&#146;s
    officers, (iii)&#160;the Fund&#146;s Shareholders and
    (iv)&#160;any other source the Committee deems to be
    appropriate. The Nominating Committee of each Fund may, but is
    not required to, retain a third party search firm at the
    Fund&#146;s expense to identify potential candidates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Consideration of Candidates Recommended by
    Shareholders.</B>&#160;&#160;The Nominating Committee of each
    Fund will review and consider nominees recommended by
    Shareholders to serve as Trustees<B>/</B>Directors, provided
    that the recommending Shareholder follows the &#147;Procedures
    for Shareholders to Submit Nominee Candidates for the Allianz
    Global Investors Fund&#160;Management Sponsored Closed-End
    Funds,&#148; which are set forth as Appendix&#160;B to the
    Funds&#146; Nominating Committee Charter. Among other
    requirements, these procedures provide that the recommending
    Shareholder must submit any recommendation in writing to the
    Fund, to the attention of the Fund&#146;s Secretary, at the
    address of the principal executive offices of the Fund and that
    such submission must be received at such offices not less than
    45&#160;days nor more than 75&#160;days prior to the date of the
    Board or shareholder meeting at which the nominee would be
    elected. Any recommendation must include certain biographical
    and other information regarding the candidate and the
    recommending Shareholder, and must include a written and signed
    consent of the candidate to be named as a nominee and to serve
    as a Trustee<B>/</B>Director if elected. The foregoing
    description of the requirements is only a summary. Please refer
    to Appendix&#160;B to the Nominating Committee Charter for each
    fund, which is available at
    <U><FONT style="white-space: nowrap">http://www.allianzinvestors.com/closedendfunds/literature</FONT></U>,
    for details.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Nominating Committee has full discretion to reject nominees
    recommended by Shareholders, and there is no assurance that any
    such person properly recommended and considered by the Committee
    will be nominated for election to the Board of each Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Diversity.</B>&#160;&#160;The Nominating Committee takes
    diversity of a particular nominee and overall diversity of the
    Board into account when considering and evaluating nominees for
    Trustee. While the Committee has not adopted a particular
    definition of diversity, when considering a nominee&#146;s and
    the Board&#146;s diversity, the
</DIV>
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    <BR>
    18
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Committee generally considers the manner in which each
    nominee&#146;s professional experience, education, expertise in
    matters that are relevant to the oversight of the Funds
    (<I>e.g.</I>, investment management, distribution, accounting,
    trading, compliance, legal), general leadership experience, and
    life experience are complementary and, as a whole, contribute to
    the ability of the Board to oversee the Funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Valuation Committee.</B>&#160;&#160;The Board of each Fund
    has a Valuation Committee currently consisting of
    Messrs.&#160;Belica, Jacobson, Kertess, Ogden and Sullivan.
    Mr.&#160;Rappaport would be added as a member of the Valuation
    Committee effective June&#160;22, 2010. The Board of each Fund
    has delegated to the Committee the responsibility to determine
    or cause to be determined the fair value of each Fund&#146;s
    portfolio securities and other assets when market quotations are
    not readily available. The Valuation Committee reviews and
    approves procedures for the fair valuation of each Fund&#146;s
    portfolio securities and periodically reviews information from
    the Manager and the
    <FONT style="white-space: nowrap">Sub-Adviser</FONT>
    regarding fair value and liquidity determinations made pursuant
    to Board-approved procedures, and makes related recommendations
    to the full Board and assists the full Board in resolving
    particular fair valuation and other valuation matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Compensation Committee.</B>&#160;&#160;The Board of each Fund
    has a Compensation Committee currently consisting of
    Messrs.&#160;Belica, Jacobson, Kertess, Ogden and Sullivan.
    Mr.&#160;Rappaport would be added as a member of the
    Compensation Committee effective June&#160;22, 2010. The
    Compensation Committee meets as the Board deems necessary to
    review and make recommendations regarding compensation payable
    to the Trustees<B>/</B>Directors of the Fund who are not
    directors, officers, partners or employees of the Manager, the
    <FONT style="white-space: nowrap">Sub-Advisers</FONT>
    or any entity controlling, controlled by or under common control
    with the Manager or the
    <FONT style="white-space: nowrap">Sub-Adviser.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Meetings.</B>&#160;&#160;With respect to NFJ, during the
    fiscal year ended January&#160;31, 2010, the Board of Trustees
    held four regular meetings and one special meeting. The Audit
    Oversight Committee met in separate session twice, the
    Nominating Committee met in separate session once, the Valuation
    Committee met in separate session four times and the
    Compensation Committee did not meet in separate sessions. Each
    Trustee attended in person or via teleconference at least 75% of
    the regular meetings of the Board and meetings of the committees
    on which such Trustee served for NFJ that were held during the
    fiscal year ended January&#160;31, 2010, except
    Mr.&#160;Jacobson who was not appointed to the Board until
    December&#160;14, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    With respect to NCV, during the fiscal year ended
    February&#160;28, 2010, the Board of Trustees held four regular
    meetings and one special meeting. The Audit Oversight Committee
    met in separate session twice, the Nominating Committee met in
    separate session once, the Valuation Committee met in separate
    session four times and the Compensation Committee did not meet
    in separate sessions. Each Trustee attended at least 75% of the
    regular meetings of the Board and meetings of the committees on
    which such Trustee served for NCV that were held during the
    fiscal year ended February&#160;28, 2010, except
    Mr.&#160;Jacobson who was not appointed to the Board until
    December&#160;14, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    With respect to NCZ, during the fiscal year ended
    February&#160;28, 2010, the Board of Trustees held four regular
    meetings and one special meeting. The Audit Oversight Committee
    met in separate session twice, the Nominating Committee met in
    separate session once, the Valuation Committee met in separate
    session four times and the Compensation Committee did not meet
    in separate sessions. Each Trustee attended at least 75% of the
    regular meetings of the Board and meetings of the committees on
    which such Trustee served for NCZ that were held during the
    fiscal year ended February&#160;28, 2010, except
    Mr.&#160;Jacobson who was not appointed to the Board until
    December&#160;14, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    With respect to NIE, during the fiscal year ended
    January&#160;31, 2010, the Board of Trustees held four regular
    meetings and two special meetings. The Audit Oversight Committee
    and the Nominating Committee met in separate session twice, the
    Valuation Committee met in separate session four times, and the
    Compensation Committee did not meet in separate sessions. Each
    Trustee attended at least 75% of the regular meetings of the
    Board and meetings of the committees on which such Trustee
    served for NIE that were held during the fiscal year ended
    January&#160;31, 2010, except Mr.&#160;Jacobson who was not
    appointed to the Board until December&#160;14, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    With respect to NAI, during the fiscal year ended
    February&#160;28, 2010, the Board of Trustees held four regular
    meetings and two special meeting. The Audit Oversight Committee
    met in separate session twice, the
</DIV>
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    <BR>
    19
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Nominating Committee met in separate session once, the Valuation
    Committee met in separate session four times and the
    Compensation Committee did not meet in separate sessions. Each
    Trustee attended at least 75% of the regular meetings of the
    Board and meetings of the committees on which such Trustee
    served for NAI that were held during the fiscal year ended
    February&#160;29, 2010, except Mr.&#160;Jacobson who was not
    appointed to the Board until December&#160;14, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    With respect to PGP, during the fiscal year ended March&#160;31,
    2010, the Board of Trustees held four regular meetings and three
    special meetings. The Audit Oversight Committee met in separate
    session twice, the Nominating Committee met in separate session
    once, the Valuation Committee met in separate session four times
    and the Compensation Committee did not meet in separate
    sessions. Each Trustee attended at least 75% of the regular
    meetings of the Board and meetings of the committees on which
    such Trustee served for PGP that were held during the fiscal
    year ended March&#160;31, 2010, except Mr.&#160;Jacobson who was
    not appointed to the Board until December&#160;14, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    With respect to RCS, during the fiscal year ended
    January&#160;31, 2010, the Board of Directors held four regular
    meetings. The Audit Oversight Committee met in separate session
    twice, the Nominating Committee met in separate session once,
    the Valuation Committee met in separate session four times and
    the Compensation Committee did not meet in separate sessions.
    Each Director attended at least 75% of the regular meetings of
    the Board and meetings of the committees on which such Director
    served for RCS that were held during the fiscal year ended
    January&#160;31, 2010, except Mr.&#160;Jacobson who was not
    appointed to the Board until December&#160;14, 2009.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Trustees/Directors do not attend the annual shareholder
    meetings.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Shareholder Communications with the Board of
    Trustees/Directors.</B>&#160;&#160;The Board of
    Trustees<B>/</B>Directors of each Fund has adopted procedures by
    which Fund&#160;Shareholders may send communications to the
    Board. Shareholders may mail written communications to the Board
    to the attention of the Board of Trustees<B>/</B>Directors,
    [name of Fund],
    <FONT style="white-space: nowrap">c/o&#160;Thomas</FONT>
    J. Fuccillo, Chief Legal Officer (&#147;CLO&#148;), Allianz
    Global Investors Fund&#160;Management LLC, 1345 Avenue of the
    Americas, New York, NY 10105. Shareholder communications must
    (i)&#160;be in writing and be signed by the Shareholder and
    (ii)&#160;identify the class and number of Shares held by the
    Shareholder. The CLO or his designee of each Fund is responsible
    for reviewing properly submitted shareholder communications. The
    CLO shall either (i)&#160;provide a copy of each properly
    submitted shareholder communication to the Board at its next
    regularly scheduled Board meeting or (ii)&#160;if the CLO
    determines that the communication requires more immediate
    attention, forward the communication to the
    Trustees<B>/</B>Directors promptly after receipt. The CLO may,
    in good faith, determine that a shareholder communication should
    not be provided to the Board because it does not reasonably
    relate to a Fund or its operations, management, activities,
    policies, service providers, Board, officers, shareholders or
    other matters relating to an investment in the Fund or is
    otherwise routine or ministerial in nature. These procedures do
    not apply to (i)&#160;any communication from an officer or
    Trustee<B>/</B>Director of a Fund, (ii)&#160;any communication
    from an employee or agent of a Fund, unless such communication
    is made solely in such employee&#146;s or agent&#146;s capacity
    as a shareholder, or (iii)&#160;any shareholder proposal
    submitted pursuant to
    <FONT style="white-space: nowrap">Rule&#160;14a-8</FONT>
    under the Exchange Act or any communication made in connection
    with such a proposal. A Fund&#146;s Trustees<B>/</B>Directors
    are not required to attend the Fund&#146;s annual shareholder
    meetings or to otherwise make themselves available to
    shareholders for communications, other than by the
    aforementioned procedures.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Section&#160;16(a) Beneficial Ownership Reporting
    Compliance.</B>&#160;&#160;Each Fund&#146;s Trustees/Directors
    and certain officers, investment advisers, certain affiliated
    persons of the investment advisers and persons who own more than
    10% of any class of outstanding securities of a Fund
    (<I>i.e</I>., a Fund&#146;s Common Shares or Preferred Shares)
    are required to file forms reporting their affiliation with the
    Fund and reports of ownership and changes in ownership of the
    Fund&#146;s securities with the Securities and Exchange
    Commission (the &#147;SEC&#148;) and the New York Stock Exchange
    (the &#147;NYSE&#148;). These persons and entities are required
    by SEC regulation to furnish the Fund with copies of all such
    forms they file. Based solely on a review of these forms
    furnished to each Fund, each Fund believes that each of the
    Trustees/Directors and relevant officers, investment advisers
    and relevant affiliated persons of the investment advisers has
    complied with all applicable filing requirements during each
    Fund&#146;s respective fiscal years.
</DIV>
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    <BR>
    20
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Required Vote.</B>&#160;&#160;The election of
    Messrs.&#160;Kertess and Ogden to the Board of Trustees of NCV,
    and the election of Messrs.&#160;Belica and Ogden to the Board
    of Trustees of NCZ will require the affirmative vote of a
    plurality of the votes of the Common and Preferred Shareholders
    (voting as a single class) of the relevant Fund cast in the
    election of Trustees at the Meeting, in person or by proxy. The
    election of Messrs.&#160;Jacobson and Rappaport to the Boards of
    Trustees of NCV and NCZ will require the affirmative vote of a
    plurality of the votes of the Preferred Shareholders (voting as
    a separate class) of the relevant Fund cast in the election of
    Trustees at the Meeting, in person or by proxy. The election of
    Messrs.&#160;Belica, Jacobson, Kertess, Ogden, Sullivan and
    Rappaport to NFJ, the election of Messrs.&#160;Belica, Jacobson,
    Sullivan and Rappaport to NIE, and the election of
    Messrs.&#160;Jacobson, Sullivan and Rappaport to NAI and PGP
    will require the affirmative vote of a plurality of the votes of
    the Shareholders of the relevant Fund cast in the election of
    Trustees at the meeting, in person or by proxy. The election of
    Messrs.&#160;Jacobson, Ogden and Rappaport to the Board of
    Directors of RCS will require the affirmative vote of a
    plurality of the votes validly cast at the Meeting, in person or
    by proxy.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><I>THE BOARD OF TRUSTEES/DIRECTORS OF THE FUNDS UNANIMOUSLY
    RECOMMENDS THAT YOU VOTE FOR THIS PROPOSAL.</I></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ADDITIONAL
    INFORMATION</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Executive and Other Officers of the Funds.</B>&#160;&#160;The
    table below provides certain information concerning the
    executive officers of the Funds and certain other officers who
    perform similar duties. Officers of NFJ, NCV, NCZ, NIE, NAI and
    PGP hold office at the pleasure of the Board and until their
    successors are chosen and qualified, or in each case until he or
    she sooner dies, resigns, is removed with or without cause or
    becomes disqualified. Officers of RCS hold office until the next
    annual meeting of the Board of Directors and until his successor
    shall have been elected and qualified. Officers and employees of
    the Funds who are principals, officers, members or employees of
    the Manager or the
    <FONT style="white-space: nowrap">Sub-Advisers</FONT>
    are not compensated by the Funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="25%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="21%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="30%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="21%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name, Address*<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Position(s) Held<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Term of Office and Length<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Principal Occupation(s) During<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>and Date of Birth</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>with Fund</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>of Time Served</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>the Past 5&#160;Years</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
    Brian S. Shlissel<BR>
    11/14/1964
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    President &#038; Chief Executive Officer
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    NCV&#160;&#151; Since March 2003<BR>
    NCZ&#160;&#151; Since July 2003<BR>
    NFJ&#160;&#151; Since inception (February 2005)<BR>
    NIE&#160;&#151; Since inception (February 2007)<BR>
    NAI&#160;&#151; Since inception (April 2005)<BR>
    PGP&#160;&#151; Since inception (May 2005)<BR>
    RCS&#160;&#151; Since June 2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Managing Director, Head of Mutual Fund Administration, Allianz
    Global Investors Fund Management LLC; President and Chief
    Executive Officer of 33&#160;funds in the Fund Complex;
    Treasurer, Principal Financial and Accounting Officer of
    45&#160;funds in the Fund Complex and The Korea Fund, Inc.
    Formerly, Director of 4 funds in the Fund Complex
    <FONT style="white-space: nowrap">(2002-2010).</FONT>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Lawrence G. Altadonna<BR>
    03/10/1966
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Treasurer, Principal Financial and Accounting Officer
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    NCV&#160;&#151; Since March 2003<BR>
    NCZ&#160;&#151; Since July 2003<BR>
    NFJ&#160;&#151; Since inception (February 2005)<BR>
    NIE&#160;&#151; Since inception (February 2007)<BR>
    NAI&#160;&#151; Since inception (April 2005)<BR>
    PGP&#160;&#151; Since inception (May 2005)<BR>
    RCS&#160;&#151; Since June 2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Senior Vice President, Allianz Global Investors Fund Management
    LLC; Treasurer, Principal Financial and Accounting Officer of 33
    funds in the Fund Complex; Assistant Treasurer of 45 funds in
    the Fund Complex and The Korea Fund, Inc.
</TD>
</TR>
</TABLE>
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    <BR>
    21
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="25%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="21%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="30%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="21%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name, Address*<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Position(s) Held<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Term of Office and Length<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Principal Occupation(s) During<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>and Date of Birth</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>with Fund</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>of Time Served</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>the Past 5&#160;Years</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
    Thomas J. Fuccillo<BR>
    03/22/1968
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Vice President, Secretary and Chief Legal Officer
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    NCV&#160;&#151; Since December 2004<BR>
    NCZ&#160;&#151; Since December 2004<BR>
    NFJ&#160;&#151; Since inception (February 2005)<BR>
    NIE&#160;&#151; Since inception (February 2007)<BR>
    NAI&#160;&#151; Since inception (April 2005)<BR>
    PGP&#160;&#151; Since inception (May 2005)<BR>
    RCS&#160;&#151; Since June 2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Executive Vice President, Chief Legal Officer and Secretary of
    Allianz Global Investors Fund Management LLC; Vice President,
    Secretary and Chief Legal Officer of 78&#160;funds in the Fund
    Complex; Secretary and Chief Legal Officer of The Korea Fund,
    Inc.
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Youse Guia<BR>
    680 Newport Center<BR>
    Drive Suite&#160;250<BR>
    Newport Beach, CA<BR>
    92660<BR>
    09/03/1972
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Chief Compliance Officer
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    NCV&#160;&#151; Since October 2004<BR>
    NCZ&#160;&#151; Since October 2004<BR>
    NFJ&#160;&#151; Since inception (February 2005)<BR>
    NIE&#160;&#151; Since inception (February 2007)<BR>
    NAI&#160;&#151; Since inception (April 2005)<BR>
    PGP&#160;&#151; Since inception (May 2005)<BR>
    RCS&#160;&#151; Since June 2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Senior Vice President and Chief Compliance Officer of Allianz
    Global Investors of America L.P.; Chief Compliance Officer of
    78&#160;funds in the Fund Complex and The Korea Fund, Inc.
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    Scott Whisten<BR>
    03/13/1971
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Assistant Treasurer
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    NCV&#160;&#151; Since January 2007<BR>
    NCZ&#160;&#151; Since January 2007<BR>
    NFJ&#160;&#151; Since January 2007<BR>
    NIE&#160;&#151; Since inception (February 2007)<BR>
    NAI&#160;&#151; Since January 2007<BR>
    PGP&#160;&#151; Since January 2007<BR>
    RCS&#160;&#151; Since June 2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Senior Vice President, Allianz Global Investors Fund Management
    LLC; Assistant Treasurer of 78&#160;funds in the Fund Complex.
    Formerly, Accounting Manager, Prudential Investments, 2000-2005.
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Richard J. Cochran<BR>
    01/23/1961
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Assistant Treasurer
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    NCV&#160;&#151; Since May 2008<BR>
    NCZ&#160;&#151; Since May 2008<BR>
    NFJ&#160;&#151; Since May 2008<BR>
    NIE&#160;&#151; Since May 2008<BR>
    NAI&#160;&#151; Since May 2008<BR>
    PGP&#160;&#151; Since May 2008<BR>
    RCS&#160;&#151; Since June 2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Vice President, Allianz Global Investors Fund Management LLC;
    Assistant Treasurer of 78&#160;funds in the Fund Complex;
    formerly, Tax manager, Teachers Insurance Annuity
    Association/College Retirement Equity Fund (TIAA-CREF)
    <FONT style="white-space: nowrap">(2002-2008).</FONT>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Kathleen A. Chapman<BR>
    11/11/1954
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Assistant Secretary
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    NCV&#160;&#151; Since December 2006<BR>
    NCZ&#160;&#151; Since December 2006<BR>
    NFJ&#160;&#151; Since December 2006<BR>
    NIE&#160;&#151; Since inception (February 2007)<BR>
    NAI&#160;&#151; Since December 2006<BR>
    PGP&#160;&#151; Since December 2006<BR>
    RCS&#160;&#151; Since June 2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Assistant Secretary of 78&#160;funds in the Fund Complex.
    Formerly, Manager&#160;&#151; Individual Investor Group Advisory
    Law, Morgan Stanley (2004-2005).
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
    Lagan Srivastava<BR>
    09/20/1977
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Assistant Secretary
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    NCV&#160;&#151; Since December 2006<BR>
    NCZ&#160;&#151; Since December 2006<BR>
    NFJ&#160;&#151; Since December 2006<BR>
    NIE&#160;&#151; Since inception (February 2007)<BR>
    NAI&#160;&#151; Since December 2006<BR>
    PGP&#160;&#151; Since December 2006<BR>
    RCS&#160;&#151; Since June 2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Assistant Secretary of 78&#160;funds in the Fund Complex and The
    Korea Fund, Inc. Formerly, Research Assistant, Dechert LLP,
    2004-2005.
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    Unless otherwise noted, the address of the Funds&#146; officers
    is Allianz Global Investors Fund&#160;Management LLC, 1345
    Avenue of the Americas, New York, New York 10105.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each of the Trust&#146;s executive officers is an
    &#147;interested person&#148; of the Trust (as defined in
    Section&#160;2(a)(19) of the 1940 Act) as a result of his or her
    position(s) set forth in the table above.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    22
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Investment Manager and
    <FONT style="white-space: nowrap">Sub-Advisers.</FONT></B>&#160;&#160;The
    Manager, located at 1345 Avenue of the Americas, New&#160;York,
    New York 10105, serves as the investment manager of the Funds.
    The Manager retains its affiliates, NFJ Group and OpCap as
    <FONT style="white-space: nowrap">Sub-Advisers</FONT>
    to NFJ, NACM as
    <FONT style="white-space: nowrap">Sub-Adviser</FONT>
    to NFJ, NCV, NCZ, NIE and NAI, and PIMCO as
    <FONT style="white-space: nowrap">Sub-Adviser</FONT>
    to PGP and RCS. AGI Capital, the indirect parent company of NFJ,
    NACM and OpCap, is an investment adviser based in New York,
    Dallas and San&#160;Diego and is a wholly-owned subsidiary of
    Allianz Global Investors. NFJ Group is located at 2100 Ross
    Avenue, Suite&#160;1840, Dallas, Texas 75201. OpCap is located
    at 1345 Avenue of the Americas, New York, NY 10105. NACM is
    located at 600&#160;W.&#160;Broadway, 30th Floor,
    San&#160;Diego, California 92101. PIMCO is located at 800
    Newport Center Drive, Newport Beach, CA 92660. The Manager and
    the
    <FONT style="white-space: nowrap">Sub-Advisers</FONT>
    are each majority-owned indirect subsidiaries of Allianz SE, a
    publicly traded European insurance and financial services
    company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Legal Proceedings.</B>&#160;&#160;In June and September 2004,
    the Manager and certain of its affiliates (including PEA Capital
    LLC (&#147;PEA&#148;), Allianz Global Investors Distributors LLC
    and Allianz Global Investors of America, L.P.) agreed to settle,
    without admitting or denying the allegations, claims brought by
    the SEC and the New Jersey Attorney General alleging violations
    of federal and state securities laws with respect to certain
    open-end funds for which the Manager serves as investment
    adviser. The settlements related to an alleged &#147;market
    timing&#148; arrangement in certain open-end funds formerly
    <FONT style="white-space: nowrap">sub-advised</FONT>
    by PEA. The Manager and its affiliates agreed to pay a total of
    $68&#160;million to settle the claims. In addition to monetary
    payments, the settling parties agreed to undertake certain
    corporate governance, compliance and disclosure reforms related
    to market timing, and consented to cease and desist orders and
    censures. Subsequent to these events, PEA deregistered as an
    investment adviser and dissolved. None of the settlements
    alleged that any inappropriate activity took place with respect
    to the Funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Since February 2004, the Manager, and certain of its affiliates
    and their employees have been named as defendants in a number of
    pending lawsuits concerning &#147;market timing,&#148; which
    allege the same or similar conduct underlying the regulatory
    settlements discussed above. The market timing lawsuits have
    been consolidated in a multi-district litigation proceeding in
    the United States District Court for the District of Maryland
    (the &#147;MDL Court&#148;). After a number of claims in the
    lawsuits were dismissed by the MDL Court, the parties entered
    into a stipulation of settlement, which was publicly filed with
    the MDL Court in April 2010, resolving all remaining claims, but
    the settlement remains subject to the approval of the MDL Court.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In addition, PIMCO, the
    <FONT style="white-space: nowrap">Sub-Adviser</FONT>
    to PGP and RCS, is the subject of a lawsuit in the Northern
    District of Illinois Eastern Division in which the complaint
    alleges that plaintiffs each purchased and sold a
    <FONT style="white-space: nowrap">10-year</FONT>
    Treasury note futures contract and suffered damages from an
    alleged shortage when PIMCO held both physical and futures
    positions in
    <FONT style="white-space: nowrap">10-year</FONT>
    Treasury notes for its client accounts. In July 2007, the court
    granted class certification of a class consisting of those
    persons who purchased futures contracts to offset short
    positions between May&#160;9, 2005 and June&#160;30, 2005. PIMCO
    currently believes that the complaint is without merit and
    intends to vigorously defend against this action.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Manager and the
    <FONT style="white-space: nowrap">Sub-Advisers</FONT>
    believe that these matters are not likely to have a material
    adverse effect on the Funds or on their ability to perform their
    respective investment advisory activities relating to the Funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The foregoing speaks only as of the date of this document.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Independent Registered Public Accounting
    Firm.</B>&#160;&#160;The Audit Oversight Committee of each
    Fund&#146;s Board unanimously selected PricewaterhouseCoopers
    LLP (&#147;PwC&#148;) as the independent registered public
    accounting firm for the fiscal years ending January&#160;31,
    2011 for NFJ, NIE and RCS, February&#160;28, 2011 for NCV, NCZ
    and NAI and March&#160;31, 2011 for PGP. PwC served as the
    independent registered public accounting firm of each Fund for
    the last fiscal year and also serves as the independent
    registered public accounting firm of various other investment
    companies for which the Manager and the
    <FONT style="white-space: nowrap">Sub-Advisers</FONT>
    serve as investment adviser or
    <FONT style="white-space: nowrap">sub-advisers.</FONT>
    PwC is located at 300 Madison Avenue, New York, New York 10017
    and at 1100 Walnut Street, Suite&#160;1300, Kansas City, MO
    <FONT style="white-space: nowrap">64106-2197</FONT>
    (RCS only). None of the Funds knows of any direct financial or
    material indirect financial interest of PwC in the Funds.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    23
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A representative of PwC, if requested by any Shareholder, will
    be present at the Meeting via telephone to respond to
    appropriate questions from Shareholders and will have an
    opportunity to make a statement if he or she chooses to do so.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Pre-approval Policies and Procedures.</B>&#160;&#160;Each
    Fund&#146;s Audit Oversight Committee has adopted written
    policies relating to the pre-approval of audit and permitted
    non-audit services to be performed by the Fund&#146;s
    independent registered public accounting firm. Under the
    policies, on an annual basis, a Fund&#146;s Audit Oversight
    Committee reviews and pre-approves proposed audit and permitted
    non-audit services to be performed by the independent registered
    public accounting firm on behalf of the Fund. The President of
    each Fund also pre-approves any permitted non-audit services to
    be provided to the Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In addition, each Fund&#146;s Audit Oversight Committee
    pre-approves annually any permitted non-audit services
    (including audit-related services) to be provided by the
    independent registered public accounting firm to the Manager,
    the
    <FONT style="white-space: nowrap">Sub-Adviser</FONT>
    and any entity controlling, controlled by, or under common
    control with the Manager that provides ongoing services to the
    Fund (together, the &#147;Accounting Affiliates&#148;),
    provided, in each case, that the engagement relates directly to
    the operations and financial reporting of the Fund. Although the
    Audit Oversight Committee does not pre-approve all services
    provided by the independent registered public accounting firm to
    Accounting Affiliates (for instance, if the engagement does not
    relate directly to the operations and financial reporting of the
    Fund), the Committee receives an annual report from the
    independent registered public accounting firm showing the
    aggregate fees paid by Accounting Affiliates for such services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each Fund&#146;s Audit Oversight Committee may also from time to
    time pre-approve individual non-audit services to be provided to
    the Fund or an Accounting Affiliate that were not pre-approved
    as part of the annual process described above. The Chairman of
    each Fund&#146;s Audit Oversight Committee (or any other member
    of the Committee to whom this responsibility has been delegated)
    may also pre-approve these individual non-audit services,
    provided that the fee for such services does not exceed certain
    pre-determined dollar thresholds. Any such pre-approval by the
    Chairman (or by a delegate) is reported to the full Audit
    Oversight Committee at its next regularly scheduled meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The pre-approval policies provide for waivers of the requirement
    that the Audit Oversight Committee pre-approve permitted
    non-audit services provided to the Funds or their Accounting
    Affiliates pursuant to de minimis exceptions described in
    Section&#160;10A of the Exchange Act and applicable regulations
    (referred to herein as the &#147;de minimis exception&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Audit Fees.</B>&#160;&#160;Audit Fees are fees related to the
    audit and review of the financial statements included in annual
    reports and registration statements, and other services that are
    normally provided in connection with statutory and regulatory
    filings or engagements. For each Fund&#146;s last two fiscal
    years, the Audit Fees billed by PwC are shown in the table below:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="69%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="18%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Fund</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fiscal Year Ended</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Audit Fees</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NFJ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    67,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    67,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NIE
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    54,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    54,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    RCS
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    70,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    70,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NAI
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    50,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    50,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    54,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    54,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCZ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    54,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    54,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    PGP
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    March 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    70,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    March 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    90,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    24
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Audit-Related Fees.</B>&#160;&#160;Audit-Related Fees are
    fees related to assurance and related services that are
    reasonably related to the performance of the audit or review of
    financial statements, but not reported under &#147;Audit
    Fees&#148; above, and that include accounting consultations,
    <FONT style="white-space: nowrap">agreed-upon</FONT>
    procedure reports (inclusive of annual review of basic
    maintenance testing associated with the Preferred Shares),
    attestation reports and comfort letters. The table below shows,
    for each Fund&#146;s last two fiscal years, the Audit-Related
    Fees billed by PwC to that Fund. During those fiscal years,
    there were no Audit-Related Fees billed by PwC to the
    Funds&#146; Accounting Affiliates for audit-related services
    related directly to the operation and financial reporting of the
    Funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="62%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="18%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="13%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Fund</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fiscal Year Ended</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Audit-Related Fees</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NFJ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NIE
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    RCS
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NAI
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    40,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCZ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    16,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    58,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    PGP
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    March 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    March 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Tax Fees.</B>&#160;&#160;Tax Fees are fees associated with
    tax compliance, tax advice and tax planning, including services
    relating to the filing or amendment of federal, state or local
    income tax returns, regulated investment company qualification
    reviews, and tax distribution and analysis reviews. The table
    below shows, for each Fund&#146;s last two fiscal years, the
    aggregate Tax Fees billed by PwC to each Fund. During those
    fiscal years, there were no Tax Fees billed by PwC to the
    Funds&#146; Accounting Affiliates for audit-related services
    related directly to the operation and financial reporting of the
    Funds:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="70%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="18%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Fund</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fiscal Year Ended</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Tax Fees</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NFJ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NIE
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,600
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,600
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    RCS
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,935
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NAI
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,650
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,650
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCZ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,650
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,650
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    PGP
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    March 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    March 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>All Other Fees.</B>&#160;&#160;All Other Fees are fees
    related to services other than those reported above under
    &#147;Audit Fees,&#148; &#147;Audit-Related Fees&#148; and
    &#147;Tax Fees.&#148; For each Fund&#146;s last two fiscal
    years, no such fees were billed by PwC to the Fund or the
    Fund&#146;s Accounting Affiliates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    During the periods indicated in the tables above, no services
    described under &#147;Audit-Related Fees,&#148; &#147;Tax
    Fees&#148; or &#147;All Other Fees&#148; were approved pursuant
    to the de minimis exception.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    25
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Aggregate Non-Audit Fees.</B>&#160;&#160;The aggregate
    non-audit fees billed by PwC, during each Fund&#146;s last two
    fiscal years, for services rendered to each Fund and the
    Fund&#146;s Accounting Affiliates are shown in the table below:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="31%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="18%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="13%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate Non-<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Non-Audit Fees for<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Audit Fees<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Accounting<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Fund</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fiscal Year Ended</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>for Fund</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Affiliates</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Non-Audit Fees</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NFJ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    554,190
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    568,365
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    383,840
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    398,015
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NIE
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,600
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    554,190
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    566,790
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,600
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    409,504
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    422,104
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    RCS
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,063,450
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,077,625
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    January 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,935
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,510,265
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,515,200
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NAI
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    553,665
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    566,790
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    13,125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    335,060
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    348,185
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    23,650
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    543,140
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    566,790
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    53,650
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    308,185
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    361,835
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCZ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    29,650
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    537,140
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    566,790
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    February 28, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    71,650
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    290,185
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    361,835
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    PGP
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    March 31, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,180,453
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,194,628
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    March 31, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,236,644
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,250,819
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each Fund&#146;s Audit Oversight Committee has determined that
    the provision by PwC of non-audit services to the Fund&#146;s
    Accounting Affiliates that were not pre-approved by the
    Committee was compatible with maintaining the independence of
    PwC as the Fund&#146;s principal auditors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Other Business.</B>&#160;&#160;As of the date of this Proxy
    Statement, each Fund&#146;s officers and the Manager know of no
    business to come before the Meeting other than as set forth in
    the Notice. If any other business is properly brought before the
    Meeting, including any adjournment thereof, the persons named as
    proxies will vote in their sole discretion.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Quorum, Adjournments and Methods of
    Tabulation.</B>&#160;&#160;A quorum for each of NFJ, NCV, NCZ,
    NIE, NAI and PGP at the Meeting will consist of the presence in
    person or by proxy of thirty percent (30%) of the total Shares
    of each of Fund entitled to vote at the Meeting. For RCS, the
    presence at the Meeting, in person or by proxy, of the holders
    of a majority of Shares entitled to vote shall be necessary and
    sufficient to constitute a quorum. In the event that a quorum is
    not present at the Meeting or, even if a quorum is present, in
    the event that sufficient votes in favor of the Proposal set
    forth in the Notice are not received by the time scheduled for
    the Meeting, the persons named as proxies may propose one or
    more adjournments of the Meeting after the date set for the
    original Meeting, with no other notice than announcement at the
    Meeting, to permit further solicitation of proxies with respect
    to the Proposal. In addition, if, in the judgment of the persons
    named as proxies, it is advisable to defer action on the
    Proposal, the persons named as proxies may propose one or more
    adjournments of the Meeting with respect to the Proposal for a
    reasonable time. Any adjournments with respect to the Proposal
    will require the affirmative vote of a plurality of the Shares
    of NFJ, NCV, NCZ, NIE, NAI and PGP and the affirmative vote of a
    majority of the Shares of RCS entitled to vote thereon present
    in person or represented by proxy at the session of the Meeting
    to be adjourned. The persons named as proxies will vote in favor
    of such adjournment those proxies which they are entitled to
    vote in favor of the Proposal. They will vote against any such
    adjournment those proxies required to be voted against the
    Proposal. The costs of any additional solicitation and of any
    adjourned session will be borne by the applicable Fund. Any
    proposals properly before the Meeting for which sufficient
    favorable votes have been received by the time of the Meeting
    will be acted upon and such action will be final regardless of
    whether the Meeting is adjourned to permit additional
    solicitation with respect to any other proposal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Votes cast by proxy or in person at the Meeting will be counted
    by persons appointed by NFJ, NCV, NCZ, NIE, NAI and PGP as
    tellers, and by RCS as inspectors (collectively, the
    &#147;Tellers/Inspectors&#148;) for the Meeting. For purposes of
    determining the presence of a quorum for each Fund, the
    Tellers/Inspectors will count the total number of votes cast
    &#147;for&#148; or &#147;against&#148; approval of the Proposal
    for that Fund, as well as
</DIV>
<!-- XBRL Paragraph Pagebreak -->
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    26
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Shares represented by proxies that reflect abstentions and
    &#147;broker non-votes&#148; (<I>i.e.</I>, shares held by
    brokers or nominees as to which instructions have not been
    received from the beneficial owners or the persons entitled to
    vote and the broker or nominee does not have the discretionary
    voting power on a particular matter). Abstentions and broker
    non-votes will have no effect on the outcome of the Proposal for
    a Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Reports to Shareholders.</B>&#160;&#160;Below are the dates
    on or about which the 2010 Annual Reports to Shareholders of
    each Fund were mailed:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="72%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Mail Date for 2010<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Fund</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Annual Report to Shareholders</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NFJ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    March 25, 2010
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCV
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    April 21, 2010
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NCZ
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    April 21, 2010
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NAI
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    April 21, 2010
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NIE
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    March 25, 2010
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    PGP
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    May 26, 2010
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    RCS
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    March 29, 2010
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Additional copies of the Annual Reports and the Funds&#146;
    Semi-Annual Reports may be obtained without charge from the
    Funds by calling 1-877-819-2224 or by writing to the Funds at
    1345 Avenue of the Americas, New York, NY 10105.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Shareholder Proposals for 2010 Annual
    Meeting.</B>&#160;&#160;It is currently anticipated that each
    Fund&#146;s next annual meeting of Shareholders after the
    Meeting addressed in this Proxy Statement will be held in July
    2011. Proposals of Shareholders intended to be presented at that
    annual meeting of the Fund must be received by the Fund no later
    than February&#160;18, 2011 for inclusion in the Fund&#146;s
    proxy statement and proxy cards relating to that meeting. The
    submission by a Shareholder of a proposal for inclusion in the
    proxy materials does not guarantee that it will be included.
    Shareholder proposals are subject to certain requirements under
    the federal securities laws and must be submitted in accordance
    with the applicable Fund&#146;s Bylaws. Shareholders submitting
    any other proposals for the Fund intended to be presented at the
    2011 annual meeting (<I>i.e</I>., other than those to be
    included in the Fund&#146;s proxy materials) must ensure that
    such proposals are received by the Fund, in good order and
    complying with all applicable legal requirements and
    requirements set forth in the Fund&#146;s Bylaws, no earlier
    than April&#160;19, 2011 and no later than May&#160;4, 2011 for
    NFJ, NCV, NCZ, NIE, NAI, PGP, and RCS. If a Shareholder who
    wishes to present a proposal fails to notify the Fund within
    these dates, the proxies solicited for the meeting will have
    discretionary authority to vote on the Shareholder&#146;s
    proposal if it is properly brought before the meeting. If a
    Shareholder makes a timely notification, the proxies may still
    exercise discretionary voting authority under circumstances
    consistent with the SEC&#146;s proxy rules. Shareholder
    proposals should be addressed to the attention of the Secretary
    of the applicable Fund, at the address of the principal
    executive offices of the Fund, with a copy to David C. Sullivan,
    Ropes&#160;&#038; Gray LLP, One International Place, Boston,
    Massachusetts
    <FONT style="white-space: nowrap">02110-2624.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>PLEASE EXECUTE AND RETURN THE ENCLOSED PROXY CARDS PROMPTLY
    TO ENSURE THAT A QUORUM IS PRESENT AT THE ANNUAL MEETING. A
    SELF-ADDRESSED, POSTAGE-PAID ENVELOPE IS ENCLOSED FOR YOUR
    CONVENIENCE.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    June&#160;18, 2010
</DIV>
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    <BR>
    27
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><U><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;A
    to Proxy Statement</FONT></U></I></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Allianz
    Global Investors Fund&#160;Management Sponsored Closed-End
    Funds<BR>
    Audit Oversight Committee Charter<BR>
    <BR>
    </FONT></B><FONT style="font-family: 'Times New Roman', Times">(Adopted
    as of January&#160;14, 2004,<BR>
    as amended through<BR>
    April&#160;6, 2010)
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of Trustees (each a &#147;Board&#148;) of each of the
    registered investment companies listed in <U>Appendix&#160;A</U>
    hereto (each a &#147;Fund&#148; and, collectively, the
    &#147;Funds&#148;), as the same may be periodically updated, has
    adopted this Charter to govern the activities of the Audit
    Oversight Committee (the &#147;Committee&#148;) of the
    particular Board with respect to its oversight of the Fund. This
    Charter applies separately to each Fund and its particular Board
    and Committee, and shall be interpreted accordingly. This
    Charter supersedes and replaces any audit committee charter
    previously adopted by the Board or a committee of the Board.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Statement
    of Purpose and Functions</FONT></U></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Committee&#146;s general purpose is to oversee the
    Fund&#146;s accounting and financial reporting policies and
    practices and its internal controls, including by assisting with
    the Board&#146;s oversight of the integrity of the Fund&#146;s
    financial statements, the Fund&#146;s compliance with legal and
    regulatory requirements, the qualifications and independence of
    the Fund&#146;s independent auditors, and the performance of the
    Fund&#146;s internal control systems and independent auditors.
    The Committee&#146;s purpose is also to prepare reports required
    by Item&#160;407(d)(3)(i) of
    <FONT style="white-space: nowrap">Regulation&#160;S-K</FONT>
    or otherwise required by Securities and Exchange Commission
    rules to be included in the Fund&#146;s annual proxy statements,
    if any.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Committee&#146;s function is oversight. While the Committee
    has the responsibilities set forth in this Charter, it is not
    the responsibility of the Committee to plan or conduct audits,
    to prepare or determine that the Fund&#146;s financial
    statements are complete and accurate and are in accordance with
    generally accepted accounting principles, or to assure
    compliance with laws, regulations or any internal rules or
    policies of the Fund. Fund management is responsible for Fund
    accounting and the implementation and maintenance of the
    Fund&#146;s internal control systems, and the independent
    auditors are responsible for conducting a proper audit of the
    Fund&#146;s financial statements. Members of the Committee are
    not employees of the Funds and, in serving on this Committee,
    are not, and do not hold themselves out to be, acting as
    accountants or auditors. As such, it is not the duty or
    responsibility of the Committee or its members to conduct
    &#147;field work&#148; or other types of auditing or accounting
    reviews or procedures. Each member of the Committee shall be
    entitled to rely on (i)&#160;the integrity of those persons and
    organizations within management and outside the Fund from which
    the Committee receives information and (ii)&#160;the accuracy of
    financial and other information provided to the Committee by
    such persons or organizations absent actual knowledge to the
    contrary.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Membership</FONT></U></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Committee shall be comprised of as many trustees as the
    Board shall determine, but in any event not less than three
    (3)&#160;Trustees. Each member of the Committee must be a member
    of the Board. The Board may remove or replace any member of the
    Committee at any time in its sole discretion. One or more
    members of the Committee may be designated by the Board as the
    Committee&#146;s chairman or co-chairman, as the case
    may&#160;be.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each member of the Committee may not be an &#147;interested
    person&#148; of the Fund, as defined in Section&#160;2(a)(19) of
    the Investment Company Act of 1940, as amended (the
    &#147;Investment Company Act&#148;), and must otherwise satisfy
    the standards for independence of an audit committee member of
    an investment company issuer as set forth in
    <FONT style="white-space: nowrap">Rule&#160;10A-3(b)</FONT>
    (taking into account any exceptions to those requirements set
    for in such rule) under the Securities Exchange Act of 1934, as
    amended, and under applicable listing standards of the New York
    Stock Exchange (the &#147;NYSE&#148;). Each member of the
    Committee must be &#147;financially literate&#148; (or must
    become so within a reasonable time after his or her appointment
    to the Committee) and at least one
</DIV>
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    <BR>
    A-1
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    member of the Committee must have &#147;accounting or related
    financial management expertise,&#148; in each case as the Board
    interprets such qualification in its business judgment under
    NYSE listing standards.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Responsibilities
    and Duties</FONT></U></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Committee&#146;s policies and procedures shall remain
    flexible to facilitate the Committee&#146;s ability to react to
    changing conditions and to generally discharge its functions.
    The following describe areas of attention in broad terms. The
    Committee shall:
</DIV>

<DIV style="margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="9%"></TD>
    <TD width="1%"></TD>
    <TD width="90%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    1. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Determine the selection, retention or termination of the
    Fund&#146;s independent auditors based on an evaluation of their
    independence and the nature and performance of the audit and any
    permitted non-audit services. Decisions by the Committee
    concerning the selection, retention or termination of the
    independent auditors shall be submitted to the Board for
    ratification in accordance with the requirements of
    Section&#160;32(a) of the Investment Company Act. The
    Fund&#146;s independent auditors must report directly to the
    Committee, which shall be responsible for resolution of
    disagreements between management and the independent auditors
    relating to financial reporting.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    2. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    To consider the independence of the Fund&#146;s independent
    auditors at least annually, and in connection therewith receive
    on a periodic basis formal written disclosures and letters from
    the independent auditors as required by the Independence
    Standards Board Standard (&#147;ISB&#148;) No.&#160;1.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    3. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    To the extent required by applicable regulations, pre-approve
    (i)&#160;all audit and permitted non-audit services rendered by
    the independent auditors to the Fund and (ii)&#160;all non-audit
    services rendered by the independent auditors to the Fund&#146;s
    investment advisers (including
    <FONT style="white-space: nowrap">sub-advisers)</FONT>
    and to certain of the investment advisers&#146; affiliates. The
    Committee may implement policies and procedures by which such
    services are approved other than by the full Committee.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    4. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Review the fees charged by the independent auditors to the Fund,
    the investment advisers and certain affiliates of the investment
    advisers for audit, audit-related and permitted non-audit
    services.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    5. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    If and to the extent that the Fund intends to have employees,
    set clear policies for the hiring by the Fund of employees or
    former employees of the Fund&#146;s independent auditors.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    6. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Obtain and review at least annually a report from the
    independent auditors describing (i)&#160;the accounting
    firm&#146;s internal quality-control procedures and
    (ii)&#160;any material issues raised (a)&#160;by the accounting
    firm&#146;s most recent internal quality-control review or peer
    review or (b)&#160;by any governmental or other professional
    inquiry or investigation performed within the preceding five
    years respecting one or more independent audits carried out by
    the firm, and any steps taken to address any such issues.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    7. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Review with the Fund&#146;s independent auditors arrangements
    for and the scope of the annual audit and any special audits,
    including the form of any opinion proposed to be rendered to the
    Board and shareholders of the Fund.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    8. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Meet with management and the independent auditors to review and
    discuss the Fund&#146;s annual audited financial statements,
    including a review of any specific disclosures of
    management&#146;s discussion of the Fund&#146;s investment
    performance; and, with respect to the Fund&#146;s audited
    financial statements, discuss with the independent auditors
    matters required by Statement of Accounting Standards
    (&#147;SAS&#148;) No.&#160;61 and any other matters required to
    be reported to the Committee under applicable law; and provide a
    statement whether, based on its review of the Fund&#146;s
    audited financial statements, the Committee recommends to the
    Board that the audited financial statements be included in the
    Fund&#146;s Annual Report.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Meet with management to review and discuss the Fund&#146;s
    unaudited financial statements included in the semi-annual
    report, including, if any, a review of any specific disclosure
    of management&#146;s discussion of the Fund&#146;s investment
    performance.
</DIV>
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    <BR>
    A-2
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="9%"></TD>
    <TD width="1%"></TD>
    <TD width="90%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    9. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Discuss with management and the independent auditors the
    Fund&#146;s unaudited financial statements.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    10. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Review with the independent auditors any audit problems or
    difficulties encountered in the course of their audit work and
    management&#146;s responses thereto.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    11. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Review with management and, as applicable, with the independent
    auditors the Fund&#146;s accounting and financial reporting
    policies, practices and internal controls, management&#146;s
    guidelines and policies with respect to risk assessment and risk
    management, including the effect on the Fund of any
    recommendation of changes in accounting principles or practices
    by management or the independent auditors.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    12. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Discuss with management any press releases discussing the
    Fund&#146;s investment performance and other financial
    information about the Fund, as well as any financial information
    provided by management to analysts or rating agencies. The
    Committee may discharge this responsibility by discussing the
    general types of information to be disclosed by the Fund and the
    form of presentation (<I>i.e.</I>, a
    <FONT style="white-space: nowrap">case-by-case</FONT>
    review is not required) and need not discuss in advance each
    such release of information.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    13. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Establish procedures for (i)&#160;the receipt, retention, and
    treatment of complaints received by the Fund regarding
    accounting, internal accounting controls, or auditing matters;
    and (ii)&#160;the confidential, anonymous submission by
    employees of the Fund, the Fund&#146;s investment advisers,
    administrator, principal underwriter (if any) or any other
    provider of accounting-related services for the investment
    advisers of concerns regarding accounting or auditing matters.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    14. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Investigate or initiate the investigation of any improprieties
    or suspected improprieties in the Fund&#146;s accounting
    operations or financial reporting.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    15. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Review with counsel legal and regulatory matters that have a
    material impact on the Fund&#146;s financial and accounting
    reporting policies and practices or its internal controls.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    16. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Report to the Board on a regular basis (at least annually) on
    the Committee&#146;s activities.</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
<DIV style="text-indent: -2%; margin-left: 2%">
    17. </DIV>
</TD>
    <TD></TD>
    <TD valign="bottom">
    Perform such other functions consistent with this Charter, the
    Agreement and Declaration of Trust and Bylaws applicable to the
    Fund, and applicable law or regulation, as the Committee or the
    Board deems necessary or appropriate.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Committee may delegate any portion of its authority and
    responsibilities as set forth in this Charter to a subcommittee
    of one or more members of the Committee.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Meetings</FONT></U></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    At least annually, the Committee shall meet separately with the
    independent auditors and separately with the representatives of
    Fund management responsible for the financial and accounting
    operations of the Fund. The Committee shall hold other regular
    or special meetings as and when it deems necessary or
    appropriate.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Outside
    Resources and Assistance from Management</FONT></U></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The appropriate officers of the Fund shall provide or arrange to
    provide such information, data and services as the Committee may
    request. The Committee shall have the authority to engage at the
    Fund&#146;s expense independent counsel and other experts and
    consultants whose expertise the Committee considers necessary to
    carry out its responsibilities. The Fund shall provide for
    appropriate funding, as determined by the Committee, for the
    payment of: (i)&#160;compensation of the Fund&#146;s independent
    auditors for the issuance of an audit report relating to the
    Fund&#146;s financial statements or the performance of other
    audit, review or attest
</DIV>
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    <BR>
    A-3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    services for the Fund; (ii)&#160;compensation of independent
    legal counsel or other advisers retained by the Committee; and
    (iii)&#160;ordinary administrative expenses of the Committee
    that are necessary or appropriate in fulfilling its purposes or
    carrying out its responsibilities under this Charter.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Annual
    Evaluations</FONT></U></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Committee shall review and reassess the adequacy of this
    Charter at least annually and recommend any changes to the
    Board. In addition, the performance of the Committee shall be
    reviewed at least annually by the Board.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Adoption
    and Amendments</FONT></U></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board shall adopt and approve this Charter and may amend the
    Charter at any time on the Board&#146;s own motion.
</DIV>
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    <BR>
    A-4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Appendix&#160;A</FONT></U></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><U><FONT style="font-family: 'Times New Roman', Times">Funds
    Subject to this Charter</FONT></U></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">(As of
    April&#160;6, 2010)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">NFJ
    DIVIDEND, INTEREST&#160;&#038; PREMIUM STRATEGY FUND
    </FONT></B><FONT style="font-family: 'Times New Roman', Times">(&#147;NFJ&#148;)<BR>
    <B>NICHOLAS-APPLEGATE CONVERTIBLE&#160;&#038; INCOME FUND
    </B>(&#147;NCV&#148;)<BR>
    <B>NICHOLAS-APPLEGATE CONVERTIBLE&#160;&#038; INCOME
    FUND&#160;II </B>(&#147;NCZ&#148;)<BR>
    <B>NICHOLAS-APPLEGATE EQUITY&#160;&#038; CONVERTIBLE INCOME FUND
    </B>(&#147;NIE&#148;)<BR>
    <B>NICHOLAS-APPLEGATE GLOBAL EQUITY&#160;&#038; CONVERTIBLE
    INCOME FUND </B>(&#147;NGZ&#148;)<BR>
    <B>NICHOLAS-APPLEGATE INTERNATIONAL&#160;&#038; PREMIUM STRATEGY
    FUND </B>(&#147;NAI&#148;)<BR>
    <B>PCM FUND, INC. </B>(&#147;PCM&#148;)<BR>
    <B>PIMCO CALIFORNIA MUNICIPAL INCOME FUND
    </B>(&#147;PCQ&#148;)<BR>
    <B>PIMCO CALIFORNIA MUNICIPAL INCOME FUND&#160;II
    </B>(&#147;PCK&#148;)<BR>
    <B>PIMCO CALIFORNIA MUNICIPAL INCOME FUND&#160;III
    </B>(&#147;PZC&#148;)<BR>
    <B>PIMCO CORPORATE INCOME FUND </B>(&#147;PCN&#148;)<BR>
    <B>PIMCO CORPORATE OPPORTUNITY FUND </B>(&#147;PTY&#148;)<BR>
    <B>PIMCO INCOME STRATEGY FUND </B>(&#147;PFL&#148;)<BR>
    <B>PIMCO INCOME STRATEGY FUND&#160;II </B>(&#147;PFN&#148;)<BR>
    <B>PIMCO GLOBAL STOCKSPLUS&#160;&#038; INCOME FUND
    </B>(&#147;PGP&#148;)<BR>
    <B>PIMCO HIGH INCOME FUND </B>(&#147;PHK&#148;)<BR>
    <B>PIMCO INCOME OPPORTUNITY FUND </B>(&#147;PKO&#148;)<BR>
    <B>PIMCO MUNICIPAL INCOME FUND </B>(&#147;PMF&#148;)<BR>
    <B>PIMCO MUNICIPAL INCOME FUND&#160;II </B>(&#147;PML&#148;)<BR>
    <B>PIMCO MUNICIPAL INCOME FUND&#160;III </B>(&#147;PMX&#148;)<BR>
    <B>PIMCO NEW YORK MUNICIPAL INCOME FUND </B>(&#147;PNF&#148;)<BR>
    <B>PIMCO NEW YORK MUNICIPAL INCOME FUND&#160;II
    </B>(&#147;PNI&#148;)<BR>
    <B>PIMCO NEW YORK MUNICIPAL INCOME FUND&#160;III
    </B>(&#147;PYN&#148;)<BR>
    <B>PIMCO STRATEGIC GLOBAL GOVERNMENT FUND, INC.
    </B>(&#147;RCS&#148;)
    </FONT>
</DIV>
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</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><U><FONT style="font-family: 'Times New Roman', Times"><FONT style="white-space: nowrap">Exhibit&#160;B-1</FONT>
    to Proxy Statement</FONT></U></I></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Report of
    Audit Oversight Committee<BR>
    of the Board of Trustees of<BR>
    NFJ Dividend, Interest&#160;&#038; Premium Strategy Fund
    (&#147;NFJ&#148;)<BR>
    Nicholas-Applegate Equity&#160;&#038; Convertible Income Fund
    (&#147;NIE&#148;)<BR>
    PIMCO Strategic Global Government Fund, Inc. (&#147;RCS&#148;)
    (each a &#147;Fund&#148;)<BR>
    Dated March&#160;22, 2010</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Audit Oversight Committee (the &#147;Committee&#148;)
    oversees the Fund&#146;s financial reporting process on behalf
    of the Board of Trustees of the Fund (the &#147;Board&#148;) and
    operates under a written Charter adopted by the Board. The
    Committee meets with the Fund&#146;s management
    (&#147;Management&#148;) and independent registered public
    accounting firm and reports the results of its activities to the
    Board. Management has the primary responsibility for the
    financial statements and the reporting process, including the
    system of internal controls. In connection with the
    Committee&#146;s and independent accountant&#146;s
    responsibilities, Management has advised that the Fund&#146;s
    financial statements for the fiscal year ended January&#160;31,
    2010 were prepared in conformity with the generally accepted
    accounting principles.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Committee has reviewed and discussed with Management and
    PricewaterhouseCoopers LLP (&#147;PwC&#148;), the Fund&#146;s
    independent registered public accounting firm, the audited
    financial statements for the fiscal year ended January&#160;31,
    2010. The Committee has discussed with PwC the matters required
    to be discussed by Statements on Auditing Standard No.&#160;61
    (SAS 61). SAS 61 requires independent auditors to communicate to
    the Committee matters including, if applicable: 1)&#160;methods
    used to account for significant unusual transactions;
    2)&#160;the effect of significant accounting policies in
    controversial or emerging areas for which there is a lack of
    authoritative guidance or consensus; 3)&#160;the process used by
    management in formulating particularly sensitive accounting
    estimates and the basis for the independent registered public
    accounting firm&#146;s conclusions regarding the reasonableness
    of those estimates; and 4)&#160;disagreements with Management
    over the application of accounting principles and certain other
    matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    With respect to each Fund, the Committee has received the
    written disclosure and the letter from PwC required by
    Rule&#160;3526 of the Public Company Accounting Oversight Board
    (requiring auditors to make written disclosure to and discuss
    with the Committee various matters relating to the independent
    registered public accounting firm&#146;s independence), and has
    discussed with PwC their independence. The Committee has also
    reviewed the aggregate fees billed by PwC for professional
    services rendered to the Fund and for non-audit services
    provided to Allianz Global Investors Fund&#160;Management LLC
    (&#147;AGIFM&#148;), the Fund&#146;s investment manager during
    portions of the last fiscal year, Pacific Investment Management
    Company LLC (&#147;PIMCO&#148;), RCS&#146;s
    <FONT style="white-space: nowrap">sub-adviser,</FONT>
    Nicholas Applegate Capital Management LLC (&#147;NACM&#148;),
    NIE and NFJ&#146;s
    <FONT style="white-space: nowrap">sub-advisers</FONT>
    and NACM, Oppenheimer Capital LLC (&#147;OpCap&#148;) and NFJ
    Investment Group LLC (&#147;NFJ LLC&#148;), NFJ&#146;s
    <FONT style="white-space: nowrap">sub-advisers</FONT>
    and any entity controlling, controlled by or under common
    control with AGIFM or PIMCO or NACM or OpCap or NFJ LLC that
    provided services to the Fund. As part of this review, the
    Committee considered, in addition to other practices and
    requirements relating to selection of the Fund&#146;s
    independent registered public accounting firm, whether the
    provision of such non-audit services was compatible with
    maintaining the independence of PwC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Based on the foregoing review and discussions, the Committee
    presents this Report to the Board and recommends that
    (1)&#160;the audited financial statements for the fiscal year
    ended January&#160;31, 2010 be included in the Fund&#146;s
    Annual Report to shareholders for such fiscal year,
    (2)&#160;such Annual Report be filed with the Securities and
    Exchange Commission and the New York Stock Exchange, and
    (3)&#160;PwC be reappointed as the Fund&#146;s independent
    registered public accounting firm for the fiscal year ending
    January&#160;31, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Submitted by the Audit Oversight Committee of the Board of
    Trustees:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Paul Belica,
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Robert E. Connor,
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    James A. Jacobson,
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Hans W. Kertess,
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    William B. Ogden, IV
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    and R. Peter Sullivan III
</DIV>
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    <BR>
    B-1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><U><FONT style="font-family: 'Times New Roman', Times"><FONT style="white-space: nowrap">Exhibit&#160;B-2</FONT>
    to Proxy Statement</FONT></U></I></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Report of
    Audit Oversight Committee<BR>
    of the Board of Trustees of<BR>
    Nicholas-Applegate Convertible&#160;&#038; Income Fund<BR>
    Nicholas-Applegate Convertible&#160;&#038; Income
    Fund&#160;II<BR>
    Nicholas-Applegate International&#160;&#038; Premium Strategy
    Fund<BR>
    (each, a &#147;Fund&#148;)<BR>
    Dated April&#160;19, 2010</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Audit Oversight Committee (the &#147;Committee&#148;)
    oversees the Fund&#146;s financial reporting process on behalf
    of the Board of Trustees of each Fund (the &#147;Board&#148;)
    and operates under a written Charter adopted by the Board. The
    Committee meets with the Fund&#146;s management
    (&#147;Management&#148;) and independent registered public
    accounting firm and reports the results of its activities to the
    Board. Management has the primary responsibility for the
    financial statements and the reporting process, including the
    system of internal controls. In connection with the
    Committee&#146;s and independent accountant&#146;s
    responsibilities, Management has advised that the Fund&#146;s
    financial statements for the fiscal year ended February&#160;28,
    2010 were prepared in conformity with the generally accepted
    accounting principles.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Committee has reviewed and discussed with Management and
    PricewaterhouseCoopers LLP (&#147;PwC&#148;), the Fund&#146;s
    independent registered public accounting firm, the audited
    financial statements for the fiscal year ended February&#160;28,
    2010. The Committee has discussed with PwC the matters required
    to be discussed by Statements on Auditing Standard No.&#160;61
    (SAS 61). SAS 61 requires the independent registered public
    accounting firm to communicate to the Committee matters
    including, if applicable: 1)&#160;methods used to account for
    significant unusual transactions; 2)&#160;the effect of
    significant accounting policies in controversial or emerging
    areas for which there is a lack of authoritative guidance or
    consensus; 3)&#160;the process used by management in formulating
    particularly sensitive accounting estimates and the basis for
    the auditor&#146;s conclusions regarding the reasonableness of
    those estimates; and 4)&#160;disagreements with Management over
    the application of accounting principles and certain other
    matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    With respect to the Fund, the Committee has received the written
    disclosure and the letter from PwC required by Rule&#160;3526 of
    the Public Company Accounting Oversight Board (requiring
    registered public accounting firms to make written disclosure to
    and discuss with the Committee various matters relating to the
    auditor&#146;s independence), and has discussed with PwC their
    independence. The Committee has also reviewed the aggregate fees
    billed by PwC for professional services rendered to the Fund and
    for non-audit services provided to Allianz Global Investors
    Fund&#160;Management LLC (&#147;AGIFM&#148;), the Fund&#146;s
    investment manager, Nicholas Applegate Capital Management LLC
    (&#147;NACM&#148;), the Fund&#146;s
    <FONT style="white-space: nowrap">sub-adviser</FONT>
    and any entity controlling, controlled by or under common
    control with AGIFM or NACM that provided services to the Fund.
    As part of this review, the Committee considered, in addition to
    other practices and requirements relating to selection of the
    Fund&#146;s independent registered public accounting firm,
    whether the provision of such non-audit services was compatible
    with maintaining the independence of PwC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Based on the foregoing review and discussions, the Committee
    presents this Report to the Board and recommends that
    (1)&#160;the audited financial statements for the fiscal year
    ended February&#160;28, 2010 be included in the Fund&#146;s
    Annual Report to shareholders for such fiscal year,
    (2)&#160;such Annual Report be filed with the Securities and
    Exchange Commission and the New York Stock Exchange, and
    (3)&#160;PwC be reappointed as the Fund&#146;s independent
    registered public accounting firm for the fiscal year ending
    February&#160;28, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Submitted by the Audit Oversight Committee of the Board of
    Trustees:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Paul Belica
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    James A. Jacobson
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Hans W. Kertess
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    R. Peter Sullivan III
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    William B. Ogden, IV
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    B-2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><U><FONT style="font-family: 'Times New Roman', Times"><FONT style="white-space: nowrap">Exhibit&#160;B-3</FONT>
    to Proxy Statement</FONT></U></I></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Report of
    Audit Oversight Committee<BR>
    of the Board of Trustees of<BR>
    PIMCO Global StocksPLUS&#160;&#038; Income Fund (the
    &#147;Fund&#148;)<BR>
    (the &#147;Fund&#148;)<BR>
    Dated May&#160;24, 2010</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Audit Oversight Committee (the &#147;Committee&#148;)
    oversees the Fund&#146;s financial reporting process on behalf
    of the Board of Trustees of the Fund (the &#147;Board&#148;) and
    operates under a written Charter adopted by the Board. The
    Committee meets with the Fund&#146;s management
    (&#147;Management&#148;) and independent registered public
    accounting firm and reports the results of its activities to the
    Board. Management has the primary responsibility for the
    financial statements and the reporting process, including the
    system of internal controls. In connection with the
    Committee&#146;s and independent accountant&#146;s
    responsibilities, Management has advised that the Fund&#146;s
    financial statements for the fiscal year ended March&#160;31,
    2010 were prepared in conformity with the generally accepted
    accounting principles.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Committee has reviewed and discussed with Management and
    PricewaterhouseCoopers LLP (&#147;PwC&#148;), the Fund&#146;s
    independent registered public accounting firm, the audited
    financial statements for the fiscal year ended March&#160;31,
    2010. The Committee has discussed with PwC the matters required
    to be discussed by Statements on Auditing Standard No.&#160;61
    (SAS 61). SAS 61 requires independent auditors to communicate to
    the Committee matters including, if applicable: 1)&#160;methods
    used to account for significant unusual transactions;
    2)&#160;the effect of significant accounting policies in
    controversial or emerging areas for which there is a lack of
    authoritative guidance or consensus; 3)&#160;the process used by
    management in formulating particularly sensitive accounting
    estimates and the basis for the independent registered public
    accounting firm&#146;s conclusions regarding the reasonableness
    of those estimates; and 4)&#160;disagreements with Management
    over the application of accounting principles and certain other
    matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    With respect to the Fund, the Committee has received the written
    disclosure and the letter from PwC required by Rule&#160;3526 of
    the Public Company Accounting Oversight Board (requiring
    auditors to make written disclosure to and discuss with the
    Committee various matters relating to the independent registered
    public accounting firm&#146;s independence), and has discussed
    with PwC their independence. The Committee has also reviewed the
    aggregate fees billed by PwC for professional services rendered
    to the Fund and for non-audit services provided to Allianz
    Global Investors Fund&#160;Management LLC (&#147;AGIFM&#148;),
    the Fund&#146;s investment manager during portions of the last
    fiscal year, Pacific Investment Management Company LLC
    (&#147;PIMCO&#148;), the Fund&#146;s
    <FONT style="white-space: nowrap">sub-adviser</FONT>
    and any entity controlling, controlled by or under common
    control with AGIFM or PIMCO that provided services to the Fund.
    As part of this review, the Committee considered, in addition to
    other practices and requirements relating to selection of the
    Fund&#146;s independent registered public accounting firm,
    whether the provision of such non-audit services was compatible
    with maintaining the independence of PwC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Based on the foregoing review and discussions, the Committee
    presents this Report to the Board and recommends that
    (1)&#160;the audited financial statements for the fiscal year
    ended March&#160;31, 2010 be included in the Fund&#146;s Annual
    Report to shareholders for such fiscal year, (2)&#160;such
    Annual Report be filed with the Securities and Exchange
    Commission and the New York Stock Exchange, and (3)&#160;PwC be
    reappointed as the Fund&#146;s independent registered public
    accounting firm for the fiscal year ending March&#160;31, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Submitted by the Audit Oversight Committee of the Board of
    Trustees:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Paul Belica
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    James A. Jacobson
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Hans W. Kertess
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    R. Peter Sullivan III
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    William B. Ogden, IV
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    B-3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COMMON SHARES
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY IN CONNECTION WITH THE ANNUAL MEETING OF<BR>
SHAREHOLDERS TO BE HELD ON JULY 21, 2010
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned holder of common shares of Nicholas-Applegate Convertible &#038; Income Fund, a
Massachusetts business trust (the &#147;Fund&#148;), hereby appoints Lawrence G. Altadonna, Thomas J.
Fuccillo and Brian S. Shlissel, or any of them, as proxies for the undersigned, with full power of
substitution in each of them, to attend the Annual Meeting of Shareholders of the Fund (the &#147;Annual
Meeting&#148;) to be held at 10:30&nbsp;a.m., Eastern Time, July&nbsp;21, 2010 at the offices of Allianz Global
Investors Fund Management LLC, 1345 Avenue of the Americas, between West 54<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> and West
55<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> Streets, 49th Floor, New York, New York 10105, and any postponement or adjournment
thereof, to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at
the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the
undersigned if personally present at such Annual Meeting. The undersigned hereby acknowledges
receipt of the Notice of Meeting and accompanying Proxy Statement and revokes any proxy heretofore
given with respect to the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST
IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY
HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT
OR POSTPONEMENT THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS THE
PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE
CAST &#147;FOR&#148; SUCH PROPOSAL.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Please refer to the Proxy Statement for a discussion of the Proposal.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF<BR>
AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>
<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">NOTE: Please sign this proxy exactly as your name(s) appear(s) on the books
Of the Fund. Joint owners should each sign personally. Trustees and other
fiduciaries should indicate the capacity in which they sign, and where more
than one name appears, a majority must sign. If a corporation, the signature
should be that of an authorized officer who should state his or her title.
</DIV>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">HAS YOUR ADDRESS CHANGED?
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DO YOU HAVE ANY COMMENTS?</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Three simple methods to vote your proxy:</B>

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Internet:</B></TD>
    <TD>&nbsp;</TD>
    <TD>Log on to <u>www.proxyonline.com</u>. Make sure to have this proxy card
available when you plan to vote your shares. You will need the
control number found in the box at the right at the time you
execute your vote.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Touchtone<br>
Phone</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply dial toll-free 1-800-690-6903 and follow
the automated instructions. Please have this
proxy card available at the time of the call.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Mail:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply sign, date, and complete the reverse side
of this proxy card and return it in the postage
paid envelope provided.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="center" style="font-size: 10pt; margin-top: 0pt">NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND
</DIV>
</div>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COMMON SHARES
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Using a <U>black ink</U> pen, mark your votes with an X as shown<BR>
in this example. Please do not write outside the designated areas. <FONT style="font-family: Wingdings">&#254;</FONT>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ANNUAL MEETING PROXY CARD
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Election of Trustees &#151; The Board of Trustees urges you to vote <U>FOR</U> the election of the
Nominees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. Nominees:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(01)&nbsp;Hans W. Kertess (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(02)&nbsp;William B. Ogden, IV (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. To vote and otherwise represent the undersigned on any other business that may properly come
before the Annual Meeting or any adjournments or postponements thereof, in the discretion of the
proxy holder(s).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">B. Non-Voting Items
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Change of Address &#151; Please print new address below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Comments &#151; Please print your comments below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">C. Authorized Signatures &#151; This section must be completed for your vote to be counted. &#151; Date and
Sign Below
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please sign this proxy card exactly as your name(s) appear(s) on the books of the Fund. Joint
owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in
which they sign, and where more than one name appears, a majority must sign. If a corporation, the
signature should be that of an authorized officer who should state his or her title.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date (mm/dd/yyyy) &#151; Pls print date below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#95;&#95;&#95;/&#95;&#95;&#95;/&#95;&#95;&#95;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 1 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 2 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PREFERRED SHARES
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY IN CONNECTION WITH THE ANNUAL MEETING OF<BR>
SHAREHOLDERS TO BE HELD ON JULY 21, 2010
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned holder of preferred shares of Nicholas-Applegate Convertible &#038; Income Fund, a
Massachusetts business trust (the &#147;Fund&#148;), hereby appoints Lawrence G. Altadonna, Thomas J.
Fuccillo and Brian S. Shlissel, or any of them, as proxies for the undersigned, with full power of
substitution in each of them, to attend the Annual Meeting of Shareholders of the Fund (the &#147;Annual
Meeting&#148;) to be held at 10:30&nbsp;a.m., Eastern Time, July&nbsp;21, 2010 at the offices of Allianz Global
Investors Fund Management LLC, 1345 Avenue of the Americas, between West 54<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> and West
55<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> Streets, 49th Floor, New York, New York 10105, and any postponement or adjournment
thereof, to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at
the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the
undersigned as if personally present at such Annual Meeting. The undersigned hereby acknowledges
receipt of the Notice of Meeting and accompanying Proxy Statement and revokes any proxy heretofore
given with respect to the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST
IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY
HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT
OR POSTPONEMENT THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO
THE PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED
WILL BE CAST &#147;FOR&#148; SUCH PROPOSAL.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Please refer to the Proxy Statement for a discussion of the Proposal.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF<BR>
AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>
<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">NOTE: Please sign this proxy exactly as your name(s) appear(s) on the books
Of the Fund. Joint owners should each sign personally. Trustees and other
fiduciaries should indicate the capacity in which they sign, and where more
than one name appears, a majority must sign. If a corporation, the signature
should be that of an authorized officer who should state his or her title.
</DIV>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">HAS YOUR ADDRESS CHANGED?
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DO YOU HAVE ANY COMMENTS?</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Three simple methods to vote your proxy:</B>

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Internet:</B></TD>
    <TD>&nbsp;</TD>
    <TD>Log on to <u>www.proxyonline.com</u>. Make sure to have this proxy card
available when you plan to vote your shares. You will need the
control number found in the box at the right at the time you
execute your vote.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Touchtone<br>
Phone</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply dial toll-free 1-800-690-6903 and follow
the automated instructions. Please have this
proxy card available at the time of the call.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Mail:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply sign, date, and complete the reverse side
of this proxy card and return it in the postage
paid envelope provided.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="center" style="font-size: 10pt; margin-top: 0pt">NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND
</DIV>
</div>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PREFERRED SHARES
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Using a <U>black ink</U> pen, mark your votes with an X as shown<BR>
in this example. Please do not write outside the designated areas. <FONT style="font-family: Wingdings">&#254;</FONT>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ANNUAL MEETING PROXY CARD
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Election of Trustees &#151; The Board of Trustees urges you to vote <U>FOR</U> the election of the
Nominees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. Nominees:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(01)&nbsp;James A. Jacobson (Class&nbsp;II) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(02)&nbsp;Hans W. Kertess (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(03)&nbsp;William B. Ogden, IV (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(04)&nbsp;Alan Rappaport (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. To vote and otherwise represent the undersigned on any other business that may properly come
before the Annual Meeting or any adjournments or postponements thereof, in the discretion of the
proxy holder(s).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">B. Non-Voting Items
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Change of Address &#151; Please print new address below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Comments &#151; Please print your comments below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">C. Authorized Signatures &#151; This section must be completed for your vote to be counted. &#151; Date and
Sign Below
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please sign this proxy card exactly as your name(s) appear(s) on the books of the Fund. Joint
owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in
which they sign, and where more than one name appears, a majority must sign. If a corporation, the
signature should be that of an authorized officer who should state his or her title.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date (mm/dd/yyyy) &#151; Pls print date below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#95;&#95;&#95;/&#95;&#95;&#95;/&#95;&#95;&#95;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 1 &#151; Please keep signature within the box.

</DIV>
<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 2 &#151; Please keep signature within the box.

</DIV>
<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND II
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COMMON SHARES
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY IN CONNECTION WITH THE ANNUAL MEETING OF<BR>
SHAREHOLDERS TO BE HELD ON JULY 21, 2010
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned holder of common shares of Nicholas-Applegate Convertible &#038; Income Fund II, a
Massachusetts business trust (the &#147;Fund&#148;), hereby appoints Lawrence G. Altadonna, Thomas J.
Fuccillo and Brian S. Shlissel, or any of them, as proxies for the undersigned, with full power of
substitution in each of them, to attend the Annual Meeting of Shareholders of the Fund (the &#147;Annual
Meeting&#148;) to be held at 10:30&nbsp;a.m., Eastern Time, July&nbsp;21, 2010 at the offices of Allianz Global
Investors Fund Management LLC, 1345 Avenue of the Americas, between West 54<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> and West
55<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> Streets, 49th Floor, New York, New York 10105, and any postponement or adjournment
thereof, to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at
the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the
undersigned as if personally present at such Annual Meeting. The undersigned hereby acknowledges
receipt of the Notice of Meeting and accompanying Proxy Statement and revokes any proxy heretofore
given with respect to the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST
IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY
HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT
OR POSTPONEMENT THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO
THE PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED
WILL BE CAST &#147;FOR&#148; SUCH PROPOSAL.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Please refer to the Proxy Statement for a discussion of the Proposal.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF<BR>
AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>
<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">NOTE: Please sign this proxy exactly as your name(s) appear(s) on the books
Of the Fund. Joint owners should each sign personally. Trustees and other
fiduciaries should indicate the capacity in which they sign, and where more
than one name appears, a majority must sign. If a corporation, the signature
should be that of an authorized officer who should state his or her title.
</DIV>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">HAS YOUR ADDRESS CHANGED?
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DO YOU HAVE ANY COMMENTS?</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Three simple methods to vote your proxy:</B>

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Internet:</B></TD>
    <TD>&nbsp;</TD>
    <TD>Log on to <u>www.proxyonline.com</u>. Make sure to have this proxy card
available when you plan to vote your shares. You will need the
control number found in the box at the right at the time you
execute your vote.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Touchtone<br>
Phone</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply dial toll-free 1-800-690-6903 and follow
the automated instructions. Please have this
proxy card available at the time of the call.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Mail:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply sign, date, and complete the reverse side
of this proxy card and return it in the postage
paid envelope provided.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="center" style="font-size: 10pt; margin-top: 0pt">NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND II
</DIV>
</div>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">COMMON SHARES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Using a <U>black ink</U> pen, mark your votes with an X as shown<br>
in this example. Please do not write outside the designated areas. <FONT style="font-family: Wingdings">&#254;</FONT>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ANNUAL MEETING PROXY CARD
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Election of Trustees &#151; The Board of Trustees urges you to vote <U>FOR</U> the election of the
Nominees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. Nominees:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(01)&nbsp;Paul Belica (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(02)&nbsp;William B. Ogden, IV (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. To vote and otherwise represent the undersigned on any other business that may properly come
before the Annual Meeting or any adjournments or postponements thereof, in the discretion of the
proxy holder(s).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">B. Non-Voting Items
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Change of Address &#151; Please print new address below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Comments &#151; Please print your comments below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">C. Authorized Signatures &#151; This section must be completed for your vote to be counted. &#151; Date and
Sign Below
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please sign this proxy card exactly as your name(s) appear(s) on the books of the Fund. Joint
owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in
which they sign, and where more than one name appears, a majority must sign. If a corporation, the
signature should be that of an authorized officer who should state his or her title.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date (mm/dd/yyyy) &#151; Pls print date below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#95;&#95;&#95;/&#95;&#95;&#95;/&#95;&#95;&#95;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 1 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 2 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND II
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PREFERRED SHARES
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY IN CONNECTION WITH THE ANNUAL MEETING OF<BR>
SHAREHOLDERS TO BE HELD ON JULY 21, 2010
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned holder of preferred shares of Nicholas-Applegate Convertible &#038; Income Fund II, a
Massachusetts business trust (the &#147;Fund&#148;), hereby appoints Lawrence G. Altadonna, Thomas J.
Fuccillo and Brian S. Shlissel, or any of them, as proxies for the undersigned, with full power of
substitution in each of them, to attend the Annual Meeting of Shareholders of the Fund (the &#147;Annual
Meeting&#148;) to be held at 10:30&nbsp;a.m., Eastern Time, July&nbsp;21, 2010 at the offices of Allianz Global
Investors Fund Management LLC, 1345 Avenue of the Americas, between West 54<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> and West
55<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> Streets, 49th Floor, New York, New York 10105, and any postponement or adjournment
thereof, to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at
the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the
undersigned as if personally present at such Annual Meeting. The undersigned hereby acknowledges
receipt of the Notice of Meeting and accompanying Proxy Statement and revokes any proxy heretofore
given with respect to the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST
IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY
HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT
OR POSTPONEMENT THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS TO
THE PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED
WILL BE CAST &#147;FOR&#148; SUCH PROPOSAL.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Please refer to the Proxy Statement for a discussion of the Proposal.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF<BR>
AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>
<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">NOTE: Please sign this proxy exactly as your name(s) appear(s) on the books
Of the Fund. Joint owners should each sign personally. Trustees and other
fiduciaries should indicate the capacity in which they sign, and where more
than one name appears, a majority must sign. If a corporation, the signature
should be that of an authorized officer who should state his or her title.
</DIV>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">HAS YOUR ADDRESS CHANGED?
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DO YOU HAVE ANY COMMENTS?</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Three simple methods to vote your proxy:</B>

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Internet:</B></TD>
    <TD>&nbsp;</TD>
    <TD>Log on to <u>www.proxyonline.com</u>. Make sure to have this proxy card
available when you plan to vote your shares. You will need the
control number found in the box at the right at the time you
execute your vote.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Touchtone <br>
Phone</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply dial toll-free 1-800-690-6903 and follow
the automated instructions. Please have this
proxy card available at the time of the call.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Mail:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply sign, date, and complete the reverse side
of this proxy card and return it in the postage
paid envelope provided.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="center" style="font-size: 10pt; margin-top: 0pt">NICHOLAS-APPLEGATE CONVERTIBLE &#038; INCOME FUND II
</DIV>
</div>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PREFERRED SHARES
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Using a <U>black ink</U> pen, mark your votes with an X as shown<BR>
in this example. Please do not write outside the designated areas. <FONT style="font-family: Wingdings">&#254;</FONT>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ANNUAL MEETING PROXY CARD
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Election of Trustees &#151; The Board of Trustees urges you to vote <U>FOR</U> the election of the
Nominees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. Nominees:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(01)&nbsp;Paul Belica (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(02)&nbsp;James A. Jacobson (Class&nbsp;II) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(03)&nbsp;William B. Ogden, IV (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(04)&nbsp;Alan Rappaport (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. To vote and otherwise represent the undersigned on any other business that may properly come
before the Annual Meeting or any adjournments or postponements thereof, in the discretion of the
proxy holder(s).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">B. Non-Voting Items
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Change of Address &#151; Please print new address below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Comments &#151; Please print your comments below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">C. Authorized Signatures &#151; This section must be completed for your vote to be counted. &#151; Date and
Sign Below
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please sign this proxy card exactly as your name(s) appear(s) on the books of the Fund. Joint
owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in
which they sign, and where more than one name appears, a majority must sign. If a corporation, the
signature should be that of an authorized officer who should state his or her title.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date (mm/dd/yyyy) &#151; Pls print date below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#95;&#95;&#95;/&#95;&#95;&#95;/&#95;&#95;&#95;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 1 &#151; Please keep signature within the box.

</DIV>
<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 2 &#151; Please keep signature within the box.

</DIV>
<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY
</DIV>




<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">NFJ DIVIDEND, INTEREST &#038; PREMIUM STRATEGY FUND
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COMMON SHARES
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY IN CONNECTION WITH THE ANNUAL MEETING OF<BR>
SHAREHOLDERS TO BE HELD ON JULY 21, 2010
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned holder of common shares of NFJ Dividend, Interest &#038; Premium Strategy Fund, a
Massachusetts business trust (the &#147;Fund&#148;), hereby appoints Lawrence G. Altadonna, Thomas J.
Fuccillo and Brian S. Shlissel, or any of them, as proxies for the undersigned, with full power of
substitution in each of them, to attend the Annual Meeting of Shareholders of the Fund (the &#147;Annual
Meeting&#148;) to be held at 11:30&nbsp;a.m., Eastern Time, July&nbsp;21, 2010 at the offices of Allianz Global
Investors Fund Management LLC, 1345 Avenue of the Americas, between West 54<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> and West
55<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> Streets, 49th Floor, New York, New York 10105, and any postponement or adjournment
thereof, to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at
the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the
undersigned if personally present at such Annual Meeting. The undersigned hereby acknowledges
receipt of the Notice of Meeting and accompanying Proxy Statement and revokes any proxy heretofore
given with respect to the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST
IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY
HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT
OR POSTPONEMENT THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS THE
PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE
CAST &#147;FOR&#148; SUCH PROPOSAL.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Please refer to the Proxy Statement for a discussion of the Proposal.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF<BR>
AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>
<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">NOTE: Please sign this proxy exactly as your name(s) appear(s) on the books
of the Fund. Joint owners should each sign personally. Trustees and other
fiduciaries should indicate the capacity in which they sign, and where more
than one name appears, a majority must sign. If a corporation, the signature
should be that of an authorized officer who should state his or her title.
</DIV>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">HAS YOUR ADDRESS CHANGED?
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DO YOU HAVE ANY COMMENTS?</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Three simple methods to vote your proxy:</B>

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Internet:</B></TD>
    <TD>&nbsp;</TD>
    <TD>Log on to <u>www.proxyonline.com</u>. Make sure to have this proxy card
available when you plan to vote your shares. You will need the
control number found in the box at the right at the time you
execute your vote.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Touchtone<br>
Phone</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply dial toll-free 1-800-690-6903 and follow
the automated instructions. Please have this
proxy card available at the time of the call.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Mail:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply sign, date, and complete the reverse side
of this proxy card and return it in the postage
paid envelope provided.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="center" style="font-size: 10pt; margin-top: 0pt">
NFJ DIVIDEND, INTEREST &#038; PREMIUM STRATEGY FUND
</DIV>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COMMON SHARES
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Using a <U>black ink</U> pen, mark your votes with an X as shown<BR>
in this example. Please do not write outside the designated areas. <FONT style="font-family: Wingdings">&#254;</FONT>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ANNUAL MEETING PROXY CARD
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Election of Trustees &#151; The Board of Trustees urges you to vote <U>FOR</U> the election of the
Nominees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. Nominees:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(01)&nbsp;Paul Belica (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(02)&nbsp;James A. Jacobson (Class&nbsp;II) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(03)&nbsp;Hans W. Kertess (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(04)&nbsp;William B. Ogden, IV (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(05)&nbsp;R. Peter Sullivan III (Class&nbsp;II)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(06)&nbsp;Alan Rappaport (Class&nbsp;III) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. To vote and otherwise represent the undersigned on any other business that may properly come
before the Annual Meeting or any adjournments or postponements thereof, in the discretion of the
proxy holder(s).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">B. Non-Voting Items
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Change of Address &#151; Please print new address below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Comments &#151; Please print your comments below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">C. Authorized Signatures &#151; This section must be completed for your vote to be counted. &#151; Date and
Sign Below
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please sign this proxy card exactly as your name(s) appear(s) on the books of the Fund. Joint
owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in
which they sign, and where more than one name appears, a majority must sign. If a corporation, the
signature should be that of an authorized officer who should state his or her title.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date (mm/dd/yyyy) &#151; Pls print date below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#95;&#95;&#95;/&#95;&#95;&#95;/&#95;&#95;&#95;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 1 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 2 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>







<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">NICHOLAS-APPLEGATE EQUITY &#038; CONVERTIBLE INCOME FUND
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COMMON SHARES
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY IN CONNECTION WITH THE ANNUAL MEETING OF<BR>
SHAREHOLDERS TO BE HELD ON JULY 21, 2010
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned holder of common shares of Nicholas-Applegate Equity &#038; Convertible Income Fund, a
Massachusetts business trust (the &#147;Fund&#148;), hereby appoints Lawrence G. Altadonna, Thomas J.
Fuccillo and Brian S. Shlissel, or any of them, as proxies for the undersigned, with full power of
substitution in each of them, to attend the Annual Meeting of Shareholders of the Fund (the &#147;Annual
Meeting&#148;) to be held at 10:30&nbsp;a.m., Eastern Time, July&nbsp;21, 2010 at the offices of Allianz Global
Investors Fund Management LLC, 1345 Avenue of the Americas, between West 54<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> and West
55<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> Streets, 49th Floor, New York, New York 10105, and any postponement or adjournment
thereof, to cast on behalf of the undersigned all votes that the undersigned is entitled to cast at
the Annual Meeting and otherwise to represent the undersigned with all powers possessed by the
undersigned if personally present at such Annual Meeting. The undersigned hereby acknowledges
receipt of the Notice of Meeting and accompanying Proxy Statement and revokes any proxy heretofore
given with respect to the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST
IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY
HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT
OR POSTPONEMENT THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS THE
PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE
CAST &#147;FOR&#148; SUCH PROPOSAL.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Please refer to the Proxy Statement for a discussion of the Proposal.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF<BR>
AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>
<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">NOTE: Please sign this proxy exactly as your name(s) appear(s) on the books
Of the Fund. Joint owners should each sign personally. Trustees and other
fiduciaries should indicate the capacity in which they sign, and where more
than one name appears, a majority must sign. If a corporation, the signature
should be that of an authorized officer who should state his or her title.
</DIV>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">HAS YOUR ADDRESS CHANGED?
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DO YOU HAVE ANY COMMENTS?</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Three simple methods to vote your proxy:</B>

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Internet:</B></TD>
    <TD>&nbsp;</TD>
    <TD>Log on to <u>www.proxyonline.com</u>. Make sure to have this proxy card
available when you plan to vote your shares. You will need the
control number found in the box at the right at the time you
execute your vote.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Touchtone<br>
Phone</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply dial toll-free 1-800-690-6903 and follow
the automated instructions. Please have this
proxy card available at the time of the call.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Mail:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply sign, date, and complete the reverse side
of this proxy card and return it in the postage
paid envelope provided.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="center" style="font-size: 10pt; margin-top: 0pt">NICHOLAS-APPLEGATE EQUITY &#038; CONVERTIBLE INCOME FUND
</DIV>
</div>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COMMON SHARES
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Using a <U>black ink</U> pen, mark your votes with an X as shown<BR>
in this example. Please do not write outside the designated areas. <FONT style="font-family: Wingdings">&#254;</FONT>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ANNUAL MEETING PROXY CARD
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Election of Trustees &#151; The Board of Trustees urges you to vote <U>FOR</U> the election of the
Nominees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. Nominees:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(01)&nbsp;Paul Belica (Class&nbsp;III) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(02)&nbsp;James A. Jacobson (Class&nbsp;II) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(03)&nbsp;R. Peter Sullivan III (Class&nbsp;III) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(04)&nbsp;Alan Rappaport (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. To vote and otherwise represent the undersigned on any other business that may properly come
before the Annual Meeting or any adjournments or postponements thereof, in the discretion of the
proxy holder(s).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">B. Non-Voting Items
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Change of Address &#151; Please print new address below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Comments &#151; Please print your comments below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">C. Authorized Signatures &#151; This section must be completed for your vote to be counted. &#151; Date and
Sign Below
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please sign this proxy card exactly as your name(s) appear(s) on the books of the Fund. Joint
owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in
which they sign, and where more than one name appears, a majority must sign. If a corporation, the
signature should be that of an authorized officer who should state his or her title.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date (mm/dd/yyyy) &#151; Pls print date below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#95;&#95;&#95;/&#95;&#95;&#95;/&#95;&#95;&#95;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 1 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 2 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>













<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">NICHOLAS-APPLEGATE INTERNATIONAL &#038; PREMIUM STRATEGY FUND
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COMMON SHARES
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY IN CONNECTION WITH THE ANNUAL MEETING OF<BR>
SHAREHOLDERS TO BE HELD ON JULY 21, 2010
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned holder of common shares of Nicholas-Applegate International &#038;
Premium Strategy Fund, a Massachusetts business trust (the &#147;Fund&#148;), hereby appoints Lawrence G.
Altadonna, Thomas J. Fuccillo and Brian S. Shlissel, or any of them, as proxies for the
undersigned, with full power of substitution in each of them, to attend the Annual Meeting of
Shareholders of the Fund (the &#147;Annual Meeting&#148;) to be held at 10:30&nbsp;a.m., Eastern Time, July&nbsp;21,
2010 at the offices of Allianz Global Investors Fund Management LLC, 1345 Avenue of the Americas,
between West 54<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> and West 55<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> Streets, 49th Floor, New York, New York
10105, and any postponement or adjournment thereof, to cast on behalf of the undersigned all votes
that the undersigned is entitled to cast at the Annual Meeting and otherwise to represent the
undersigned with all powers possessed by the undersigned if personally present at such Annual
Meeting. The undersigned hereby acknowledges receipt of the Notice of Meeting and accompanying
Proxy Statement and revokes any proxy heretofore given with respect to the Annual Meeting.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST
IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY
HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT
OR POSTPONEMENT THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS THE
PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE
CAST &#147;FOR&#148; SUCH PROPOSAL.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Please refer to the Proxy Statement for a discussion of the Proposal.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF<BR>
AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>
<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">NOTE: Please sign this proxy exactly as your name(s) appear(s) on the books
Of the Fund. Joint owners should each sign personally. Trustees and other
fiduciaries should indicate the capacity in which they sign, and where more
than one name appears, a majority must sign. If a corporation, the signature
should be that of an authorized officer who should state his or her title.
</DIV>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">HAS YOUR ADDRESS CHANGED?
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DO YOU HAVE ANY COMMENTS?</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Three simple methods to vote your proxy:</B>

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Internet:</B></TD>
    <TD>&nbsp;</TD>
    <TD>Log on to <u>www.proxyonline.com</u>. Make sure to have this proxy card
available when you plan to vote your shares. You will need the
control number found in the box at the right at the time you
execute your vote.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Touchtone<br>
Phone</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply dial toll-free 1-800-690-6903 and follow
the automated instructions. Please have this
proxy card available at the time of the call.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Mail:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply sign, date, and complete the reverse side
of this proxy card and return it in the postage
paid envelope provided.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="center" style="font-size: 10pt; margin-top: 0pt">NICHOLAS-APPLEGATE INTERNATIONAL &#038; PREMIUM STRATEGY FUND
</DIV>
</div>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Using a <U>black ink</U> pen, mark your votes with an X as shown<BR>
in this example. Please do not write outside the designated areas. <FONT style="font-family: Wingdings">&#254;</FONT>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ANNUAL MEETING JOINT PROXY CARD
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Election of Trustees &#151; The Board of Trustees urges you to vote <U>FOR</U> the election of the
Nominees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. Nominees
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(01)&nbsp;James A. Jacobson (Class&nbsp;II) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(02)&nbsp;R. Peter Sullivan III (Class&nbsp;II) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(03)&nbsp;Alan Rappaport (Class&nbsp;III) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. To vote and otherwise represent the undersigned on any other matter that may properly come
before the Annual Meeting or any postponement or adjournment thereof, in the discretion of the
proxy holder(s).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">B. Non-Voting Items
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Change of Address &#151; Please print new address below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Comments &#151; Please print your comments below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">C. Authorized Signatures &#151; This section must be completed for your vote to be counted. &#151; Date and
Sign Below
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please sign this proxy card exactly as your name(s) appear(s) on the books of the Funds. Joint
owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in
which they sign, and where more than one name appears, a majority must sign. If a corporation, the
signature should be that of an authorized officer who should state his or her title.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date (mm/dd/yyyy) &#151; Pls print date below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#95;&#95;&#95;/&#95;&#95;&#95;/&#95;&#95;&#95;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 1 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 2 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PIMCO GLOBAL STOCKSPLUS<SUP style="FONT-size: 85%; vertical-align: text-top">&#174;</SUP> &#038; INCOME FUND
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COMMON SHARES
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY IN CONNECTION WITH THE ANNUAL MEETING OF<BR>
SHAREHOLDERS TO BE HELD ON JULY 21, 2010
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES OF THE FUND
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned holder of common shares of PIMCO Strategic Global StocksPLUS<SUP style="FONT-size: 85%; vertical-align: text-top">&#174;</SUP> &#038;
Income Fund, a Massachusetts business trust (the &#147;Fund&#148;), hereby appoints Lawrence G. Altadonna,
Thomas J. Fuccillo and Brian S. Shlissel, or any of them, as proxies for the undersigned, with full
power of substitution in each of them, to attend the Annual Meeting of Shareholders of the Fund
(the &#147;Annual Meeting&#148;) to be held at 12:00&nbsp;p.m., Eastern Time, July&nbsp;21, 2010 at the offices of
Allianz Global Investors Fund Management LLC, 1345 Avenue of the Americas, between West
54<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> and West 55<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> Streets, 49th Floor, New York, New York 10105, and any
postponement or adjournment thereof, to cast on behalf of the undersigned all votes that the
undersigned is entitled to cast at the Annual Meeting and otherwise to represent the undersigned
with all powers possessed by the undersigned if personally present at such Annual Meeting. The
undersigned hereby acknowledges receipt of the Notice of Meeting and accompanying Proxy Statement
and revokes any proxy heretofore given with respect to the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST
IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY
HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT
OR POSTPONEMENT THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS THE
PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE
CAST &#147;FOR&#148; SUCH PROPOSAL.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Please refer to the Proxy Statement for a discussion of the Proposal.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF<BR>
AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>
<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">NOTE: Please sign this proxy exactly as your name(s) appear(s) on the books
of the Fund. Joint owners should each sign personally. Trustees and other
fiduciaries should indicate the capacity in which they sign, and where more
than one name appears, a majority must sign. If a corporation, the signature
should be that of an authorized officer who should state his or her title.
</DIV>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">HAS YOUR ADDRESS CHANGED?
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DO YOU HAVE ANY COMMENTS?</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Three simple methods to vote your proxy:</B>

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Internet:</B></TD>
    <TD>&nbsp;</TD>
    <TD>Log on to <u>www.proxyonline.com</u>. Make sure to have this proxy card
available when you plan to vote your shares. You will need the
control number found in the box at the right at the time you
execute your vote.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Touchtone<br>
Phone</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply dial toll-free 1-800-690-6903 and follow
the automated instructions. Please have this
proxy card available at the time of the call.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Mail:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply sign, date, and complete the reverse side
of this proxy card and return it in the postage
paid envelope provided.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="center" style="font-size: 10pt; margin-top: 0pt">PIMCO GLOBAL STOCKSPLUS<SUP style="FONT-size: 85%; vertical-align: text-top">&#174;</SUP> &#038; INCOME FUND
</DIV>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Using a <U>black ink</U> pen, mark your votes with an X as shown<BR>
in this example. Please do not write outside the designated areas. <FONT style="font-family: Wingdings">&#254;</FONT>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ANNUAL MEETING JOINT PROXY CARD
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Election of Trustees &#151; The Board of Trustees urges you to vote <U>FOR</U> the election of the
Nominees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. Nominees
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(01)&nbsp;James A. Jacobson (Class&nbsp;II) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(02)&nbsp;R. Peter Sullivan III (Class&nbsp;II) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(03)&nbsp;Alan Rappaport (Class&nbsp;III) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. To vote and otherwise represent the undersigned on any other matter that may properly come
before the Annual Meeting or any postponement or adjournment thereof, in the discretion of the
proxy holder(s).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">B. Non-Voting Items
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Change of Address &#151; Please print new address below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Comments &#151; Please print your comments below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">C. Authorized Signatures &#151; This section must be completed for your vote to be counted. &#151; Date and
Sign Below
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please sign this proxy card exactly as your name(s) appear(s) on the books of the Funds. Joint
owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in
which they sign, and where more than one name appears, a majority must sign. If a corporation, the
signature should be that of an authorized officer who should state his or her title.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date (mm/dd/yyyy) &#151; Pls print date below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#95;&#95;&#95;/&#95;&#95;&#95;/&#95;&#95;&#95;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 1 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 2 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>















<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PIMCO STRATEGIC GLOBAL GOVERNMENT FUND INC.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COMMON SHARES
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">PROXY IN CONNECTION WITH THE ANNUAL MEETING OF<BR>
SHAREHOLDERS TO BE HELD ON JULY 21, 2010
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE FUND
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned holder of common shares of PIMCO Strategic Global Government Fund Inc., a Maryland
corporation (the &#147;Fund&#148;), hereby appoints Lawrence G. Altadonna, Thomas J. Fuccillo and Brian S.
Shlissel, or any of them, as proxies for the undersigned, with full power of substitution in each
of them, to attend the Annual Meeting of Shareholders of the Fund (the &#147;Annual Meeting&#148;) to be held
at 12:00&nbsp;p.m., Eastern Time, July&nbsp;21, 2010 at the offices of Allianz Global Investors Fund
Management LLC, 1345 Avenue of the Americas, between West 54<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> and West 55<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP>
Streets, 49th Floor, New York, New York 10105, and any postponement or adjournment thereof, to cast
on behalf of the undersigned all votes that the undersigned is entitled to cast at the Annual
Meeting and otherwise to represent the undersigned with all powers possessed by the undersigned if
personally present at such Annual Meeting. The undersigned hereby acknowledges receipt of the
Notice of Meeting and accompanying Proxy Statement and revokes any proxy heretofore given with
respect to the Annual Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IF THIS PROXY IS PROPERLY EXECUTED, THE VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE CAST
IN THE MANNER DIRECTED ON THE REVERSE SIDE HEREOF, AND WILL BE VOTED IN THE DISCRETION OF THE PROXY
HOLDER(S) ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENT
OR POSTPONEMENT THEREOF. IF THIS PROXY IS PROPERLY EXECUTED BUT NO DIRECTION IS MADE AS REGARDS THE
PROPOSAL INCLUDED IN THE PROXY STATEMENT, SUCH VOTES ENTITLED TO BE CAST BY THE UNDERSIGNED WILL BE
CAST &#147;FOR&#148; SUCH PROPOSAL.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Please refer to the Proxy Statement for a discussion of the Proposal.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE HEREOF<BR>
AND RETURN THE SIGNED PROXY PROMPTLY IN THE ENCLOSED ENVELOPE.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV>
<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">NOTE: Please sign this proxy exactly as your name(s) appear(s) on the books
of the Fund. Joint owners should each sign personally. Trustees and other
fiduciaries should indicate the capacity in which they sign, and where more
than one name appears, a majority must sign. If a corporation, the signature
should be that of an authorized officer who should state his or her title.
</DIV>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">HAS YOUR ADDRESS CHANGED?
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DO YOU HAVE ANY COMMENTS?</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Three simple methods to vote your proxy:</B>

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Internet:</B></TD>
    <TD>&nbsp;</TD>
    <TD>Log on to <u>www.proxyonline.com</u>. Make sure to have this proxy card
available when you plan to vote your shares. You will need the
control number found in the box at the right at the time you
execute your vote.</TD>
</TR>
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Touchtone <br>
Phone</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply dial toll-free 1-800-690-6903 and follow
the automated instructions. Please have this
proxy card available at the time of the call.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Mail:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Simply sign, date, and complete the reverse side
of this proxy card and return it in the postage
paid envelope provided.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="width: 100%; margin-top: 12pt; border-bottom: 1px solid black; border-top: 1px solid black; padding: 6px;">
<DIV align="center" style="font-size: 10pt; margin-top: 0pt">PIMCO STRATEGIC GLOBAL GOVERNMENT FUND INC.
</DIV>
</div>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">COMMON SHARES
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Using a <U>black ink</U> pen, mark your votes with an X as shown<BR>
in this example. Please do not write outside the designated areas. <FONT style="font-family: Wingdings">&#254;</FONT>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ANNUAL MEETING JOINT PROXY CARD
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Election of Directors &#151; The Board of Directors urges you to vote <U>FOR</U> the election of
the Nominees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. Nominees
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(01)&nbsp;James A. Jacobson (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(02)&nbsp;William B. Ogden, IV (Class&nbsp;I) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 2%">(03)&nbsp;Alan Rappaport (Class&nbsp;III) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For <FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withhold <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. To vote and otherwise represent the undersigned on any other matter that may properly come
before the Annual Meeting or any postponement or adjournment thereof, in the discretion of the
proxy holder(s).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">B. Non-Voting Items
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Change of Address &#151; Please print new address below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Comments &#151; Please print your comments below.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">C. Authorized Signatures &#151; This section must be completed for your vote to be counted. &#151; Date and
Sign Below
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please sign this proxy card exactly as your name(s) appear(s) on the books of the Funds. Joint
owners should each sign personally. Trustees and other fiduciaries should indicate the capacity in
which they sign, and where more than one name appears, a majority must sign. If a corporation, the
signature should be that of an authorized officer who should state his or her title.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date (mm/dd/yyyy) &#151; Pls print date below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#95;&#95;&#95;/&#95;&#95;&#95;/&#95;&#95;&#95;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 1 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Signature 2 &#151; Please keep signature within the box.
</DIV>

<DIV align="left"><DIV style="font-size: 1pt; margin-top: 10pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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