Company Press Release

BOSTON--(BUSINESS WIRE)--
Pioneer Investments today announced that it will lower the expense limits for two share classes of Pioneer Bond Fund. The new expense limits are in place for a minimum period of five years.

"The new expense limits reduce investor costs and improve shareholder value," said Daniel K. Kingsbury, President and CEO of Pioneer Investment Management USA Inc. "The fund's new A-share expense ratio is now well below its Morningstar category average, which makes the fund an even more compelling value proposition for investors," Kingsbury added.

Pioneer Bond Fund's A-share performance over the past ten years has ranked in the 21st percentile (80th out of 453 funds) in the Morningstar Intermediate-Term Bond Fund category, and the fund has ranked in the 8th percentile (58th out of 846 funds) in the fund's Morningstar category over the past five years ended August 31, 2008.

The following contractual expense ratios become effective on October 1, 2008:

Pioneer Bond Fund

Prior Expense Limit New Expense Limit Class A (PIOBX):

Prior Expense Limit, 1.00 percent

New Expense Limit, 0.85 percent

Class Z (PIBZX)(1)

Prior Expense Limit, 0.80 percent

New Expense Limit, 0.65 percent

(1) Class Z shares are intended for purchase through certain "wrap" and similar programs sponsored by qualified intermediaries, such as broker-dealers, investment advisers and retirement plan administrators, including fee-based advisory programs and retirement plan programs.

Pioneer Bond Fund is managed by a team with over 20 years of experience led by Kenneth J. Taubes, Head of U.S. Portfolio Management. The Fund pursues an opportunistic core fixed-income strategy by investing at least 80% of its assets in investment grade securities, including U.S. Treasury obligations, agency and non-agency mortgage-backed securities, and corporate debt. Pioneer Bond Fund has the flexibility to respond to changing bond market conditions, employing an intensive credit research and issue selection process.

For details on the new expense limits and other information about the fund, please read the prospectus. Please consider the fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about the fund and should be read carefully before you invest or send money. To obtain a prospectus and for other information on any Pioneer fund, contact your adviser, call 800-225-6292 or visit our website at www.pioneerinvestments.com.

(C)2008 Pioneer Investment Management, Inc.

About Pioneer Investments

Pioneer Investments is the trade name for Pioneer Global Asset Management S.p.A. and its subsidiaries, a global investment firm with offices in 29 countries, 2,400 employees, and approximately $303 billion in assets under management as of July 31, 2008, of which approximately $71 billion was managed in the U.S. Founded in 1928, its flagship mutual fund, Pioneer Fund, is the third-oldest mutual fund in the U.S. Pioneer Investment Management, Inc. is the investment advisory subsidiary of Pioneer Investment Management USA Inc. Pioneer Investment Management USA Inc. is the North American operating subsidiary of Pioneer Global Asset Management S.p.A., a wholly-owned subsidiary of UniCredit S.p.A.


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