SOURCE: PIMCO

May 14, 2008 13:15 ET

RCS Dividend Announcement, Monthly Performance, and Statistics

NEWPORT BEACH, CA--(Marketwire - May 14, 2008) - 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 12, 2008 with an ex-dividend date of May 28, 2008 to shareholders of record as of the close of business on May 30, 2008.

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 04/30/08

                           3       6       1       3       5        10
                          Mos     Mos     Year  Years(1) Years(1) Years(1)
RCS Based on Net Asset
 Value (%)               -0.75    0.93    1.50    4.31    4.56     6.75

RCS Based on NYSE Share
 Price (%)               12.44   18.34    7.95    6.58    7.60    10.24

Lehman Brothers
 Intermediate Aggregate
 Index (%)                0.34    4.22    7.07    5.04    4.26     5.83

(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
Pricing Date            NYSE Share Price      Net Asset Value
------------            ----------------      ---------------
04/30/2008                  $11.46                 $9.57
03/31/2008                  $10.42                 $9.49
12/31/2007                   $9.61                 $9.78

Date            Premium/(Discount) to Net Asset Value
----            -------------------------------------
04/30/2008                     19.75%
03/31/2008                      9.80%
12/31/2007                     -1.74%

                      Dividend Information
                      --------------------
Annualized dividend yield at 04/30/08 based on NYSE share price: 6.81%
Annualized dividend yield at 04/30/08 based on Net Asset Value:  8.15%

                      Portfolio Statistics

The Fund's investment portfolio had the following characteristics as of
April 30, 2008:

Net Assets:         $361.9 Million
Average Duration:   3.2 years
Average Maturity:   4.3 years
Quality Ratings: *  72% AAA, 0% AA, 4% A, 7% BAA, 11% BA, 6% B, 0% less
                    than B
Average Quality: *  AA-
Sector Weightings:  125% Mortgage-Backed (41% FNMA, 28% GNMA,
                    13% FHLMC, 43% Other Mortgages), 21% Emerging
                    Markets (6.2% Brazil, 1.5% Mexico, 1.4% Ukraine,
                    1.4% Cayman Islands, 1.3% Dominican Republic,
                    1.2% Jamaica, 0.8% Panama, 0.7% British Virgin Islands,
                    0.6% Russia,  0.6% Malaysia, 4.7% Other Emerging
                    Markets Countries), -97% U.S. Treasury/Agency,
                    4% Non-U.S., 37% Cash and Equivalent, 10% Corporates

% Leverage:         1.2% (The Fund's use of leverage is subject to
                    change at any time)

* The Fund reports Quality Breakdown based upon the value of total securities held, plus the unrealized gain or loss on swaps held. The unrealized gain or loss on swaps reflects the contribution of swaps to the default risk profile of the Fund. Average Quality will be based upon the value of total securities held, plus swaps and futures contracts at notional value, plus the unrealized gain or loss on swaps and futures contracts held. The notional value of swaps and futures contracts has been added to more fully reflect the impact of these instruments on the potential volatility of the Fund.

For further information, please contact Paul Wildermuth, PIMCO Strategic Global Government Fund, Inc., at (949) 720-4778.

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