SOURCE: PIMCO

November 15, 2007 11:44 ET

PCM Fund, Inc. Dividend Announcement, Monthly Performance, and Statistics

NEWPORT BEACH, CA--(Marketwire - November 15, 2007) - 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 December 13, 2007 with an ex-dividend date of November 28, 2007 to shareholders of record at the close of business on November 30, 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 10/31/07

                           3        6       1       3        5       10
                          Mos      Mos     Year  Years(1) Years(1) Years(1)
PCM Based on Net
 Asset Value (%)          1.60    -0.05     3.08     5.54     6.48     7.44

PCM Based on NYSE
 Share Price (%)          3.83    -5.31   -17.19    -0.67     3.86     6.97

Lehman Brothers
 Aggregate Index (%)      2.91     2.68     5.38     3.88     4.41     5.91

(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
------------       ----------------    ---------------
10/31/2007           $ 10.95               $ 11.29
09/30/2007           $ 11.09               $ 11.43
12/31/2006           $ 14.40               $ 11.85



                                Premium/(Discount) to Net Asset
  Date                                        Value
----------                     ----------------------------------
10/31/2007                                  -3.01%
09/30/2007                                  -2.97%
12/31/2006                                  21.52%



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

Annualized dividend yield at 10/31/07 based on NYSE share price:    7.67%
Annualized dividend yield at 10/31/07 based on Net Asset Value:     7.44%

                     Portfolio Statistics
The Fund's investment portfolio had the following characteristics as
of October 31, 2007:


Net Assets:         $128.2 million


Average Duration:    4.7 years

Average Maturity:    7.3 years

Quality Ratings: *  -6% AAA, 10% AA, 22% A, 43% BAA, 13% 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), 61.1% Multi-Class
                    (a mix of all commercial property types, including
                    office buildings and industrial properties), 19.2% Real
                    Estate ABS, 0.0% Commercial Paper, 6.7% Corporate, 3.1%
                    Other

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


* The Fund reports Quality Breakdown based upon the value of total
securities held, plus the unrealized gain or loss on swaps held.  The
unrealized gain or loss on swaps reflects the contribution of swaps to the
default risk profile of the Fund. Average Quality will be based upon the
value of total securities held, plus swaps and futures contracts at
notional value, plus the unrealized gain or loss on swaps and futures
contracts held. The notional value of swaps and futures contracts has been
added to more fully reflect the impact of these instruments on the
potential volatility of the Fund.

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