PIMCO Initiates Podcast of McCulley's 'Global Central Bank Focus'

Market Wire, January, 2007

PIMCO, one of the world's leading fixed-income managers, announced today that it has begun podcasting Paul McCulley's highly regarded "Global Central Bank Focus," making the monthly research publication more accessible over the internet to investors.

Paul A. McCulley, a PIMCO Managing Director who is an expert on the U.S. Federal Reserve Bank and global monetary policy and author of "Global Central Bank Focus," initiated the podcast this week with the January 2007 edition. The podcast debuted with "Just-Right Ben?" a whimsical Q & A with Morgan le Fay, the family's pet rabbit which examines the approach Federal Reserve Board Chairman Ben Bernanke is taking to guiding the nation's monetary policies. In the "interview," which he has made a New Year's tradition, McCulley and le Fay also review the accuracy of their economic prognostications for the past year and look ahead to what The Fed and foreign central banks might have in store for the year ahead.

"I know our readers look forward to this annual 'conversation' with Morgan, and now the information in our newsletter will be available to many more people," said McCulley, who has been writing the newsletter (formerly "Fed Focus") since 1999.

PIMCO Chief Investment Officer Bill Gross was the first major investment manager to podcast his newsletter when he began podcasting his "Investment Outlook" newsletter last year.

"People can now hear the podcasts while they're on the subway or at the gym or any number of places convenient to them," said Mark Porterfield, PIMCO's Executive Vice President of Media. "We've opened up the availability of sophisticated financial information to a new and to a fresh audience, and the reaction has been terrific."

The PIMCO podcasts are accessible free of charge at www.pimco.com and at www.itunes.com .

About PIMCO

With more than $642 billion in fixed-income assets under management in the U.S., PIMCO is one of the world's leading fixed-income fund-management companies. Founded in 1971 and based in Newport Beach, California, the company is majority owned by Munich-based Allianz Group, a leading global insurance company with nearly $1 trillion in assets and represented in 70 countries around the globe.

Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.

CONTACT Mark Porterfield PIMCO (949) 720-6397