NEWPORT BEACH, CALIFORNIA (April 9, 2007) - PIMCO, one of the world’s leading fixed-income managers, announced today Jamil Baz, 47, will join the firm in its London office as a member of the global portfolio management team.  Mr. Baz will assist in portfolio management, as well as strategic product, market, and client development initiatives.

“Jamil is an exceptional person with deep portfolio management, analytical and mathematical expertise,” said William S. Thompson, PIMCO’s Chief Executive Officer.  “He is extremely bright and his skills will complement the firm’s global team.”

Mr. Baz joins PIMCO from Goldman Sachs, where he was a Managing Director in their proprietary trading group.  Previously he headed fixed-income research and strategy at Deutsche Bank.  He has also held senior positions at Lehman Brothers and the World Bank.  He has a Ph.D. from Harvard University and Diploma from the Ecole des Hautes Etudes Commerciales in France.

Mr. Baz has been widely published in several academic and investment journals throughout the world.

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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