SOURCE: PIMCO

February 26, 2008 10:31 ET

PCM Fund, Inc. Annual Shareholders Meeting Announced

NEWPORT BEACH, CA--(Marketwire - February 26, 2008) - PCM Fund, Inc. (NYSE: PCM) (the "Fund"), a closed-end bond fund that invests principally in commercial mortgage-backed securities, today announced that the Annual Meeting of Shareholders of the Fund will be held at 800 Newport Center Drive, 6th Floor, Newport Beach, California 92660 on April 10, 2008, at 10:00 a.m., Pacific time, for the following purposes: (1) to approve an Investment Management Agreement between PCM and Allianz Global Investors Fund Management LLC ("AGIFM"), an affiliate of Pacific Investment Management Company LLC ("PIMCO"); (2) contingent on approval of proposal 1, to approve a Portfolio Management Agreement between AGIFM and PIMCO; (3) contingent on approval of proposal 1, to consider the election of each of the directors of certain closed-end funds advised by AGIFM, as follows: John J. Dalessandro II and William B. Ogden, IV as Class I Directors of the Fund, Hans W. Kertess, John C. Maney and R. Peter Sullivan III as Class II Directors of the Fund and Paul Belica and Robert E. Connor as Class III Directors of the Fund; and (4) to consider the re-election of the current Class II Directors of the Fund whose terms expire this year, to hold office until the nominees elected pursuant to proposal 3 above take office or until their terms expire, whichever is earlier.

These proposals are being submitted for shareholder approval in connection with the proposed transition of responsibility for the management and administration of the Fund to AGIFM. The Board of Directors recommends that shareholders vote in favor of proposals 1 and 2 and for each of the nominees to the Board of Directors in proposals 3 and 4. The Board of Directors has set the close of business on Friday, March 7, 2008 as the record date for determining shareholders entitled to notice of and to vote at the meeting or any adjournments of the meeting.

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