PIMCO CIO and Founder Bill Gross Comments on 3rd Morningstar Fixed-Income Manager of the Year Award - Credits Win to Team Work

NEWPORT BEACH, CA--(Marketwire - January 3, 2008) - PIMCO today issued the following statement on behalf of PIMCO co-Chief Investment Officer and Founder Bill Gross, who earlier today became the first fund manager ever to earn three Morningstar Fund Manager of the Year awards:

"It's a great honor to have earned this important award, and I thank Morningstar for recognizing our efforts to produce world-class asset returns. This award reflects the results produced by the extraordinary team of PIMCO investment professionals in very challenging market conditions. To receive the Morningstar Fund Manager of the Year Award for a third time is a particularly satisfying recognition of our commitment to consistent, risk-controlled results over the long-term. My colleagues are the best in the world at what they do, and I am grateful to be able to lead them."

About PIMCO

With more than $721 billion in fixed-income assets under management in the US, 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.

Contact Information: Contact: Mark Porterfield PIMCO - Media Relations 949-720-NEWS (6397) www.pimco.com