SOURCE: PIMCO

September 17, 2007 14:14 ET

September 17, 2007 -- PCM Dividend Announcement, Monthly Performance, and Statistics

NEWPORT BEACH, CA--(Marketwire - September 17, 2007) - PIMCO PCM Fund, 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 October 11, 2007 with an ex-dividend date of September 26, 2007 to shareholders of record at the close of business on September 28, 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 08/31/07

                         3       6       1       3        5        10
                        Mos     Mos     Year   Years(1) Years(1) Years(1)
PCM Based on Net
 Asset Value (%)       -1.65   -2.07    2.94    5.31     6.16     7.47

PCM Based on NYSE
 Share Price (%)       -6.61  -21.53  -17.83   -0.49     2.08     6.68

Lehman Brothers
 Aggregate Index (%)    1.77    1.54    5.26    3.69     4.31     6.04

(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 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
------------        ----------------    ---------------
08/31/2007              $10.80             $11.17
07/31/2007              $10.75             $11.32
12/31/2006              $14.40             $11.85

Date               Premium/(Discount) to Net Asset Value
----               -------------------------------------
08/31/2007                      -3.31%
07/31/2007                      -5.04%
12/31/2006                      21.52%

                        Yield Information
                        -----------------
Annualized dividend yield at 08/31/07 based on NYSE share price:    7.78%
Annualized dividend yield at 08/31/07 based on Net Asset Value:     7.52%


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


Net Assets:                $126.8 million

Average Duration:          5.2 years

Average Maturity:          7.2 years

Quality Ratings:           16% AAA, 71% AA, 2% A, 6% BAA, 2% BA, 2% B,

(Based on Gross Assets)    1% less than B

Average Quality:           AA

Sector Weightings:         3.8% Multi-Family (apartment buildings), 1.4%
                           Healthcare (hospitals and nursing care
                           facilities), 5.7% Hospitality (hotels and
                           motels), 63.0% Multi-Class (a mix of all
                           commercial property types, including office
                           buildings and industrial properties), 13.4%
                           Real Estate ABS, 0.0% Commercial Paper, 6.9%
                           Corporate, 5.8% Other

% Leverage:                0.0% (The Fund's use of leverage is subject to
                           change at any time)
For further information, please contact Mick Willemsen, PIMCO PCM 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