SOURCE: PIMCO

October 15, 2007 13:47 ET

PCM Dividend Announcement, Monthly Performance, and Statistics

NEWPORT BEACH, CA--(Marketwire - October 15, 2007) - PIMCO PCM Fund, Inc. (NYSE: PCM), a closed-end investment company investing primarily in commercial mortgage-backed securities, today declared a monthly dividend of 7.0 cents per share of ordinary income payable on November 8, 2007 with an ex-dividend date of October 29, 2007 to shareholders of record at the close of business on October 31, 2007.

The dividend will be paid in cash. Shareholders who participate in the Fund's Dividend Reinvestment Plan will have their distributions reinvested in an equivalent amount of shares of the Fund. Shareholders whose dividend distributions are subject to withholding of U.S. taxes by the Fund will receive cash or shares, as the case may be, net of the amounts withheld.

           Investment Performance, Price and Dividend Information

The Fund's valuation and investment performance information are as follows:

Performance for the periods
 ended 09/30/07                  3      6     1      3      5       10
                                Mos    Mos   Year Years(1)Years(1)Years(1)
PCM Based on Net Asset Value
 (%)                           1.69   0.82   4.44   6.13   6.50    7.58

PCM Based on NYSE Share Price
 (%)                           2.87  -4.70 -16.93  -0.17   2.65    7.01

Lehman Brothers Aggregate
 Index (%)                     2.84   2.31   5.14   3.86   4.13    5.97

(1) Annualized

The Fund's total return investment performance is net of all fees and expenses and assumes the reinvestment of dividends.

Past performance is no guarantee of future results. Investment return, dividend rate and share price will fluctuate so that shares, when sold, may be worth more or less than their original cost.

                                           Price Information
    Pricing Date                 NYSE Share Price           Net Asset Value
    ------------             --------------------      --------------------
    09/30/2007                      $11.09                    $11.43
    08/31/2007                      $10.80                    $11.17
    12/31/2006                      $14.40                    $11.85




    Date                             Premium/(Discount) to Net Asset Value
                                     -------------------------------------
    09/30/2007                                    -2.97%
    08/31/2007                                    -3.31%
    12/31/2006                                    21.52%



                            Yield Information
                            -----------------


  Annualized dividend yield at 09/30/07 based on NYSE share price:    7.57%
  Annualized dividend yield at 09/30/07 based on Net Asset Value:     7.35%



                         Portfolio Statistics

The Fund's investment portfolio had the following characteristics as of
September 30, 2007:

Net Assets:                        $129.7 million

Average Duration:                  4.7 years

Average Maturity:                  7.2 years

Quality Ratings:                   0% AAA, 9% AA, 14% A, 45% BAA, 14% BA,
                                   13% B,
                                   5% less than B
Average Quality:                   BA+

Sector Weightings:                 3.7% Multi-Family (apartment buildings),
                                   0.5% Healthcare (hospitals and nursing
                                   care facilities), 5.7% Hospitality
                                   (hotels and motels), 60.9% Multi-Class
                                   (a mix of all commercial property types,
                                   including office buildings and
                                   industrial properties), 13.0% Real
                                   Estate ABS, 2.5% Commercial Paper, 6.8%
                                   Corporate, 6.9% Other

% Leverage:                        0.0% (The Fund's use of leverage is
                                   subject to change at any time)

For further information, please contact Mick Willemsen, PIMCO PCM Fund, Inc., at (949) 720-4734.

Past performance is no guarantee of future results. Investment return, dividend rate and share price will fluctuate so that shares, when sold, may be worth more or less than their original cost.

Contact Information