SOURCE: PIMCO

April 16, 2007 14:28 ET

PIMCO Commercial Mortgage Securities Trust, Inc.

NEWPORT BEACH, CA -- (MARKET WIRE) -- April 16, 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 May 10, 2007 with an ex-dividend date of April 26, 2007 to shareholders of record at the close of business on April 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 03/31/07
                            3       6       1       3       5       10
                           Mos     Mos     Year  Years(1) Years(1) Years(1)
PCM Based on Net Asset
 Value (%)                 1.43    3.59    9.24    6.61    8.34     8.36

PCM Based on NYSE Share
 Price (%)               -14.52  -12.83   -5.92    1.52    5.67     8.48

Lehman Brothers
 Aggregate Index (%)       1.50    2.76    6.59    3.31    5.35     6.45

(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
  ------------        ----------------        ---------------
   03/31/2007              $12.08                  $11.76
   02/28/2007              $14.28                  $11.83
   12/31/2006              $14.40                  $11.85

      Date              Premium/(Discount) to Net Asset Value
      ----              -------------------------------------
   03/31/2007                              2.72%
   02/28/2007                              20.71%
   12/31/2006                              21.52%

                          Yield Information
                          -----------------
 Annualized dividend yield at 03/31/07 based on NYSE share price: 6.95%
 Annualized dividend yield at 03/31/07 based on Net Asset Value:  7.14%
Portfolio Statistics

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

Net Assets:              $133.3 million

Average Duration:        4.9 years

Average Maturity:        7.6 years

Quality Ratings:         -5% AAA, -3% AA, 23% A, 49% BAA, 15% BA, 16% B,
(Based on Gross Assets)  5% less than B

Average Quality:         BA+

Sector Weightings:       4.7% Multi-Family (apartment buildings), 1.4%
                         Healthcare (hospitals and nursing care
                         facilities), 5.7% Hospitality (hotels and motels),
                         61.7% Multi-Class (a mix of all commercial
                         property types, including office buildings and
                         industrial properties), 14.8% Real Estate ABS,
                         0.0% Commercial Paper, 6.3% Corporate, 5.4% Other

% Leverage (As of 03/31/07):  32.8% (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