NEWPORT BEACH, CALIFORNIA (April 5, 2007) – PIMCO, one of the world’s leading fixed-income managers, has announced the promotion of 11 employees to the position of executive vice president, 16 to the position of senior vice president and 33 to the position of vice president.

The new executive vice presidents are:

Mike Amey

Mr. Amey is a London-based portfolio manager responsible for sterling portfolios. He joined PIMCO in 2003 having previously been head of UK fixed income at Rothschild Asset Management (currently called Insight Investment). Prior to joining Rothschild in 1994, Mr. Amey spent two years tutoring in the Department of Economics at the University of Durham, from which he holds a Bachelor of Arts in Mathematics and Economics and a Master of Science in Corporate and International Finance. He is an associate member of the Society of Investment Professionals.

Cyrille Conseil, CFA

Mr. Conseil is a Newport Beach-based portfolio manager responsible for US dollar bank loan exposure. He joined PIMCO in 1998 as a senior member of the credit research team, previously having worked in the High-Yield Group at Moody’s Investors Service. Mr. Conseil has over 15 years of investment experience and holds a Bachelor of Arts in Economics with a concentration in Finance from The Wharton School of the University of Pennsylvania, and a Master of Business Administration in Finance/International Business from Columbia University Graduate School of Business.

John B. Cummings

Mr. Cummings is a Newport Beach-based portfolio manager on PIMCO’s municipal bond team. He joined PIMCO in 2002, previously having been associated with Goldman Sachs as vice president of municipal trading where he was responsible for a number of municipal sectors, including industrials, airlines, utilities, healthcare and high yield. Mr. Cummings has over 23 years of investment experience and holds a Bachelor of Arts in Economics and a Master of Business Administration in Finance from Rutgers University.

Suhail H. Dada, CFA

Mr. Dada is the London-based head of the Mideast region responsible for business development and for servicing PIMCO’s institutional client relationships in the region. He is also PIMCO’s Global Product Manager overseeing the firm’s developed markets global fixed income business. Mr. Dada joined PIMCO in 2001, having been associated with Bank of America. While there, he was a vice president in the global markets-foreign exchange group, marketing products and services to multinationals, investment managers and hedge funds. Prior to that, he was a foreign-exchange spot-and-forwards trader at Bank of America and Security Pacific National Bank. Mr. Dada has 17 years of investment experience and holds a Bachelor’s degree in Economics from the University of Wisconsin, Madison, and a Master’s degree in International Finance from Columbia University.

Hock Meng Foong

Mr. Foong is a Singapore-based account manager and office head of PIMCO Asia Pte Ltd. responsible for client relationship and business development. Mr. Foong joined the firm in 2005, having previously been the managing director of Bank Pictet & Cie (Asia) Limited responsible for institutional business in the Asia-Pacific (ex Japan) region. Prior to that, he was a managing director of UBS Warburg in the fixed income sales and trading department. Mr. Foong has 20 years of investment experience and holds a Bachelor of Science in Economics from the University of Bath, England, and a Master of Science in Operational Research from the University of Birmingham, England.

Richard Fulford, CFA

Mr. Fulford is a London-based account manager responsible for institutional client service as well as the management and development of investment professionals in the account management group. He joined PIMCO in 2000, with experience in municipal bond trading with Wells Capital Management in San Francisco and investment banking with Equico. Prior to that, he worked as a civil engineer.  Mr. Fulford holds a Bachelor of Science in Civil Engineering from the California Polytechnic State University, San Luis Obispo, and a Master of Business Administration from the University of California, Irvine.

Bob Greer

Mr. Greer is a Newport Beach-based product manager for real return products. He joined PIMCO in 2002, previously having been associated with JPMorgan Chase and Daiwa Securities as a developer and product manager of commodity indexes. Mr. Greer has over 24 years of investment experience with Real Return products, including not only commodities, but also real estate and inflation-linked bonds. He has written about these subjects in several investment journals and publications, and most recently published The Handbook of Inflation Hedging Investments in 2005. He holds a Bachelor of Arts in Math and Economics from Southern Methodist University and a Master of Business Administration from the Stanford University Graduate School of Business.

James F. Moore

Mr. Moore is Newport Beach-based and leads the product management team for liability driven investments. He joined PIMCO in 2003 from Morgan Stanley where he was in the Corporate Derivative and Asset Liability Strategy groups. At Morgan Stanley, Mr. Moore was responsible for asset-liability, strategic risk management and capital structure advisory work for key clients in the Americas and Pacific Rim. Previously, he was associated with Enhance Reinsurance, the Wharton Financial Institutions Center and William M. Mercer Company. While at Wharton, Mr. Moore taught courses in investments and employee benefit plan design and finance. He has 13 years of investment experience and holds Bachelor’s degrees in Applied Mathematics and Economics from Brown University and a Doctorate from The Wharton School of the University of Pennsylvania with concentrations in Finance, Insurance and Risk Management.

Koyo Ozeki

Mr. Ozeki is the Tokyo-based head of the Asian Credit Research team. He is responsible for covering Japanese financial and industrial corporates, as well as Asian financials. Mr. Ozeki has more than 21 years of experience as a banker and as a credit analyst for banks. He joined PIMCO from Nomura Securities (Tokyo), where he was a senior advisor for investment banking departments. Prior to Nomura, Mr. Ozeki was managing director and head of credit research at Merrill Lynch Japan, as well as a member of several councils and advisory boards at Japan's Government/FSA on Japanese bank reform. His prior experience also includes a stint as a rating agency credit analyst at IBCA (Fitch) and as a banker at Kyowa Bank (Resona). Mr. Ozeki holds a Bachelor of Arts from the University of Tokyo and a Master of Business Administration from the University of Hull in the United Kingdom.

Jonathan Short

Mr. Short is the Newport Beach-based head of PIMCO's Institutional Business Group. He joined the firm in 2005 from Putnam Investments where he held a variety of positions, most recently serving as an Institutional portfolio manager in the Fixed Income area. In this capacity, Mr. Short was responsible for existing fixed income clients as well as prospecting for new clients domestically and internationally. Prior to Putnam, Mr. Short worked as a fixed income portfolio manager for Fidelity Investments and as a bond trader at Salomon Brothers. He has over 21 years of experience in the financial industry. Mr. Short holds a Bachelor of Arts from Georgetown University and a Master of Business Administration in Management from the Sloan School of Management, Massachusetts Institute of Technology.

Marc B.M. van Heel, CEFA

Mr. van Heel is the Amsterdam-based director of business development in the Netherlands and Belgium. He joined PIMCO in February 2001, previously having been associated with NIB Capital, where he headed up their relationship management and client services department. Prior to 2000, Mr. van Heel spent five years at Philips Pension Fund as head of fixed income and two years as a portfolio manager for Alrenta N.V (an Amsterdam listed international bond fund of ABN-AMRO). He trained as a sales manager at Mees & Hope and held similar positions at Trinkaus & Burkhardt and J.P. Morgan. Mr. van Heel has 22 years of investment experience and holds a Bachelor of Economics from Hogeschool Brabant.

The new senior vice presidents are:

Newport Beach

Jennifer S. Bridwell

Giang Bui

Alfred T. Murata

Wendong Qu

Lori Whiting, CFA

New York City

Eric J. Mogelof, CFA

London

Michael A. Burns, CFA

Anne Fairchild

Andrew Griffiths

Gillian O'Connell

David A.Viana

Munich

Andreas Berndt, CFA

Christian Wild, CFA

Tokyo

Shiro Tsubota

Hiromi Wada

The new vice presidents are:

Newport Beach

Mark S. Afrasiabi

Carlos Agredano

Sharad Bansal

Sandy Benson

Melissa A. Fejdasz

Robert M. Gingrich

Zoya S. Graves

Kris Gruben

Nic Johnson

Ryan P. Korinke, CFA

Rene Martel, CFA

Albert K. Ng

Richard Stravato

Mike Trovato, CFA

Jason A. Williams

Kevin M.  Winters

Andrew T. Wittkop

Gregg Wolf

Jianghua (John) Xu

Vadim I. Yasnov

Anna W. Yu

New York City

Alec Kersman

London

Alexandru Struc

Mark Walenbergh

Munich

Michael Althof

Gita S. Bal

Thomas Finkenzeller

Tanja Haeckl

Kasten Walther

Tokyo

Hiroaki Furusho

Yayoi Kishimoto

Hong Kong

Li Li

Sydney

Kaylee Garden

About PIMCO

With more than $668 billion in fixed-income assets under management in the US, PIMCO is one of the world’s leading fixed-income fund-management companies.  Founded in 1971 and based in Newport Beach, California, the company is majority owned by Munich-based Allianz Group, a leading global insurance company with nearly $1 trillion in assets and represented in 70 countries around the globe.

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 statements.

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