<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>efc7-2720_exh991.txt
<TEXT>
                                                                   Exhibit 99.1

                                      POWER OF ATTORNEY



         The undersigned, as a Director and/or officer of each of the registered
 investment companies listed below, hereby authorizes Kenneth L. Munt, Neil A.
 Daniele, and Rita Chopra-Brathwaite or any of them, as attorney-in-fact, to
 sign on his behalf on any form, or any amendment to such form, required to be
 filed by the undersigned pursuant to the reporting requirements of Section
 16(a) of the Securities Exchange Act of 1934 due to their capacity as a
 Director and/or officer for each of the following registered investment
 companies and to file, at the request of the undersigned, the same, with all
 exhibits thereto, with the Securities and Exchange Commission: Korea Equity
 Fund, Inc. and Japan Smaller Capitalization Fund, Inc. This Power of Attorney
 shall remain in effect through January 31, 2008 unless otherwise terminated.



 Dated: February 1, 2007


/s/ Chor Weng Tan
-----------------

    Chor Weng Tan
    Print Name


/s/ Kenneth L. Munt
----------------------
Kennet L. Munt


/s/ Neil A. Daniele
----------------------
Neil A. Daniele


/s/ Rita Chopra-Brathwaite
--------------------------
Rita Chopra-Brathwaite
</TEXT>
</DOCUMENT>
