SOURCE: PIMCO

March 14, 2007 13:38 ET

PCM Dividend Announcement, Monthly Performance and Statistics

NEWPORT BEACH, CA -- (MARKET WIRE) -- March 14, 2007 -- PIMCO Commercial Mortgage Securities Trust, 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 April 12, 2007 with an ex-dividend date of March 28, 2007 to shareholders of record at the close of business on March 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
02/28/07
                         3       6      1       3       5       10
                        Mos     Mos   Year  Years(1) Years(1) Years(1)
PCM Based on
 Net Asset Value (%)    1.63   5.12   9.27    7.24    8.14      8.33

PCM Based on
 NYSE Share Price (%)   2.04   4.72   11.16   7.05    9.01     10.48

Lehman Brothers
 Aggregate Index (%)    0.91   3.66   5.54    3.56    5.00      6.34

(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 not 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
------------      ----------------     ---------------
02/28/2007        $14.28               $11.83
01/31/2007        $14.40               $11.74
12/31/2006        $14.40               $11.85


Date            Premium/(Discount) to Net Asset Value
----            -------------------------------------
02/28/2007                    20.71%
01/31/2007                    22.66%
12/31/2006                    21.52%


                       Yield Information
                       -----------------
Annualized dividend yield at 02/28/07
 based on NYSE share price:                 7.88%
Annualized dividend yield at 02/28/07
 based on Net Asset Value:                  9.51%
                         Portfolio Statistics
The Fund's investment portfolio had the following characteristics as of February 28, 2007:
Net Assets:                      $134.1 million
Average Duration:                4.0 years
Average Maturity:                5.4 years
Quality Ratings:
 (Based on Gross Assets):        -6% AAA, -17% AA, 26% A, 55% BAA,
                                 18% BA, 18% B, 6% less than B
Average Quality:                 BA
Sector Weightings:               4.7% Multi-Family (apartment buildings),
                                 1.4% Healthcare (hospitals and nursing
                                 care facilities), 5.8% Hospitality (hotels
                                 and motels), 62.6% Multi-Class (a mix of
                                 all commercial property types, including
                                 office buildings and industrial
                                 properties), 14.8% Real Estate ABS, 0.0%
                                 Commercial Paper, 6.7% Corporate, 4.0%
                                 Other

% Leverage (As of 02/28/07):     32.5% (The Fund's use of leverage is
                                 subject to change at any time)
For further information, please contact Mick Willemsen, PIMCO Commercial Mortgage Securities Trust, Inc., at (949) 720-4734.

Past performance is not 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