SOURCE: PIMCO

July 16, 2007 15:35 ET

PCM Dividend Announcement, Monthly Performance, and Statistics

NEWPORT BEACH, CA--(Marketwire - July 16, 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 August 9, 2007 with an ex-dividend date of July 27, 2007 to shareholders of record at the close of business on July 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 06/30/07

                         3        6        1        3        5       10
                        Mos      Mos      Year   Years(1) Years(1) Years(1)
PCM Based on Net
 Asset Value (%)       -0.86     0.56     8.28     7.26     7.15     7.79

PCM Based on NYSE
 Share Price (%)       -7.36   -20.81   -13.22     2.30     2.82     6.92

Lehman Brothers
 Aggregate Index (%)   -0.52     0.98     6.12     3.98     4.48     6.02

(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
------------       ----------------          ---------------
06/30/2007              $10.99                   $11.45
05/31/2007              $11.79                   $11.57
12/31/2006              $14.40                   $11.85


Date                   Premium/(Discount) to Net Asset Value
----                   -------------------------------------
06/30/2007                             -4.02%
05/31/2007                              1.90%
12/31/2006                             21.52%


                          Yield Information
                          -----------------
Annualized dividend yield at 06/30/07 based on NYSE share price:     7.64%
Annualized dividend yield at 06/30/07 based on Net Asset Value:      7.34%


                         Portfolio Statistics

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

Net Assets:             $130.0 million

Average Duration:       6.6 years

Average Maturity:       8.2 years

Quality Ratings:
(Based on Gross Assets) -3% AAA, -3% AA, 19% A, 50% BAA, 16% BA, 15% B,
                        6% less than B
Average Quality:        BA+

Sector Weightings:      4.8% Multi-Family (apartment buildings), 1.4%
                        Healthcare (hospitals and nursing care facilities),
                        5.7% Hospitality (hotels and motels), 63.5%
                        Multi-Class (a mix of all commercial property
                        types, including office buildings and industrial
                        properties), 13.8% Real Estate ABS, 0.0% Commercial
                        Paper, 6.7% Corporate, 4.1% 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