SOURCE: PIMCO Strategic Global Government Fund, Inc.

May 14, 2007 17:44 ET

PIMCO Strategic Global Government Fund, Inc.

NEWPORT BEACH, CA -- (MARKET WIRE) -- May 14, 2007 -- PIMCO Strategic Global Government Fund, Inc. (NYSE: RCS) (the "Fund"), today declared dividends totaling 6.5 cents per share of ordinary income payable on June 14, 2007 with an ex-dividend date of May 29, 2007 to shareholders of record as of the close of business on May 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 amount withheld.

Investment Performance, Price and Dividend Information

The Fund's valuation and investment performance information are as follows:

Performance for the periods ended 04/30/07

                          3       6       1        3        5        10
                         Mos     Mos     Year   Years(1) Years(1) Years(1)
RCS Based on Net
 Asset Value (%)         3.13   5.34     9.04     6.24     6.58    7.60

RCS Based on NYSE
 Share Price (%)         5.22   8.19    10.08    11.98     9.69   10.27

Lehman Brothers
 Intermediate Aggregate
 Index (%)               2.03   2.72     6.97     4.12     4.69    6.05

(1) Annualized.
The Fund's total return investment performance is net of all fees and expenses and assumes the reinvestment of dividends.

The Fund is a closed-end, intermediate-term bond fund whose primary objective is to generate a level of income higher than that generated by high-quality, intermediate-term U.S. debt securities. As a secondary objective, the Fund seeks to maintain volatility in the net asset value of its shares comparable to that of high-quality, intermediate-term U.S. debt securities.

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

                          NYSE Share             Net Asset
Pricing Date                 Price                 Value
                          ------------          ------------
04/30/2007                $      11.51          $      10.24
03/31/2007                $      10.99          $      10.21
12/31/2006                $      10.45          $      10.19
                          ------------          ------------


                       Premium/(Discount) to Net
Date                          Asset Value
                     -----------------------------
04/30/2007                                   12.40%
03/31/2007                                    7.64%
12/31/2006                                    2.55%
                     -----------------------------



                        Dividend Information

Annualized dividend yield at 04/30/07 based on NYSE share price:      6.78%
Annualized dividend yield at 04/30/07 based on Net Asset Value:       7.62%
Portfolio Statistics

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

Net Assets:                    $383.7 Million

Average Duration:              4.4 years

Average Maturity:              4.3 years

Quality Ratings:
 (Based on Gross Assets)       89% AAA, -18% AA, 3% A, 5% BAA, 14% BA,
                               7% B, 0% less than B

Average Quality:               AA

Sector Weightings:
 (Based on Gross Assets)       147.0% Mortgage-Backed (27.0% FNMA, 24.0%
                               GNMA, 61.0% FHLMC, 35.0% Other Mortgages),
                               18.0% Emerging Markets (5.6% Brazil, 0.4%
                               Cayman Islands, 0.4% Chile, 1.2% Dominican
                               Republic, 1.1% Jamaica, 0.3% Kazakhstan,
                               0.5% Malaysia, 3.9% Mexico, 0.4% Pakistan,
                               0.8% Panama, 0.2% Peru, 0.6% Russia, 0.4%
                               Tunisia, 1.9% Ukraine, 0.3% Venezuela),
                               -91.0% U.S. Treasury/Agency, 7.0% Non-U.S.,
                               11.0% Cash and Equivalent, 8.0% Corporates

% Leverage (As of 04/30/07)    29.8% (The Fund's use of leverage is subject
                               to change at any time)
For further information, please contact Mick Willemsen, PIMCO Strategic Global Government 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