PIMCO to Open Office in Brazil

NEWPORT BEACH, CA--(Marketwire - Apr 17, 2012) - PIMCO, a leading global investment management firm, will open an office in Rio de Janeiro, Brazil in September 2012. The new office will be PIMCO's first location in Latin America and will be led by Alec Kersman, a Senior Vice President and head of PIMCO's Latin America and Caribbean business.

"The opening of this office in Brazil is an important and exciting part of PIMCO's ongoing globalization and our evolution as the complete provider of global investment solutions for a growing number of clients around the world," said Mohamed A. El-Erian, CEO and Co-CIO of PIMCO.

"Establishing an office in the region is a key step for PIMCO's Latin America and Caribbean efforts that will further enable us to get closer to our clients, and increase the range of investment opportunities in which our firm can participate," said Alec Kersman. "Brazil is an outstanding location and we look forward to becoming part of, and contributing to the community," he added.

PIMCO will operate in Brazil as PIMCO Latin America Administradora de Carteiras Ltda., and will be regulated by the Comissão de Valores Mobiliários (CVM).

Biographical Information about Alec Kersman:

Mr. Kersman is head of PIMCO's Latin America and Caribbean business. Prior to joining PIMCO in 2005, he held positions in HSBC's pension division and BBVA's pension fund in Argentina. He holds a Juris Doctor degree from the University of Buenos Aires, Argentina and an MBA from Harvard Business School.

About PIMCO:

PIMCO is a global investment management firm that was founded in Southern California in 1971. The firm serves an array of clients and manages retirement and other assets that reach more than 8 million people in the U.S. and millions more around the world. Our clients include state, municipal, union and private sector pension and retirement plans, educational, foundations, endowments, philanthropic and healthcare institutions, individual and investment saving accounts, public sector reserve management and other public entities in North and Latin America, Europe, the Middle East and Asia.

PIMCO has more than 2,000 employees. In addition to its headquarters in Newport Beach, California, the firm has offices in Amsterdam, Hong Kong, London, Milan, Munich, New York City, Singapore, Sydney, Tokyo, Toronto and Zurich. At March 31, 2012, PIMCO's assets under management were $1.7 trillion. Effective March 31, 2012, PIMCO began reporting the assets managed on behalf of its parent's affiliated companies as part of its assets under management.

PIMCO is owned by Allianz S.E., a global diversified financial services provider.

Uma versão em português deste Press Release pode ser encontrada no seguinte link: http://latam.pimco.com/EN/PressReleases/Pages/PressReleasesOverview.aspx

Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statement.