SOURCE: PIMCO Foundation

December 18, 2008 10:00 ET

PIMCO Foundation Recognizes Five Outstanding Charitable Organizations With a Holiday Grant of $125,000

NEWPORT BEACH, CA--(Marketwire - December 18, 2008) - The employees of PIMCO are pleased to announce that the PIMCO Foundation, the Newport Beach-based firm's charitable arm, will make holiday grants of $25,000 each to five non-profit organizations. In a companywide-competition, employees chose this year's recipients based on their outstanding efforts to help communities, improve education, and aid people in need.

"In these challenging economic times, it's more important than ever to support outstanding charitable groups that are working hard to provide precious help for people and institutions that need it most," said Mohamed El-Erian, PIMCO's Co-CEO and President of the PIMCO Foundation board. "These gifts are part of our ongoing efforts to recognize outstanding organizations, and to give back to our communities."

This year's recipients include:

--  Feeding America
--  Acres of Love
--  Hillview Acres Children's Home
--  Semper Fi Fund/Injured Marine Fund
--  Michael J. Fox Foundation for Parkinson's Research
    

In addition to these grants, the employees held a Spark of Love Toy Drive and collected nearly 600 toys, 40 gift cards and $22,000 in cash.

About the PIMCO Foundation

The PIMCO Foundation is committed to helping individuals, families and communities. The foundation rewards individuals and organizations that are committed to improving quality of life, education and the planet, as well as people affected by tragedies and natural disasters. Since it was founded in 2001, the PIMCO Foundation has awarded nearly $5 million in grants to charities and community organizations throughout California and the U.S.

About PIMCO

PIMCO, founded in 1971, is a global investment management firm serving a wide range of institutional and retail investors worldwide. With offices in nine countries in North America, Europe and Asia, we manage investments across a broad spectrum of global financial markets. Our success is built on our philosophy of seeking to consistently deliver attractive returns while maintaining a strong culture of risk management. PIMCO is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz Group, a leading global insurance company.

Contact Information