Company Press Release

PIMCO Announces New Managing Directors
NEWPORT BEACH, CA--(February 8, 2011) - PIMCO is pleased to announce the promotion of the following Managing Directors. "These PIMCO colleagues have contributed significantly to the firm's success in serving our clients, and are an important part of its future," said Mohamed A. El-Erian, CEO and co-CIO of PIMCO. "Their promotions reflect our confidence in their continued ability to deliver the highest quality investment management services worldwide for our clients."

Mike Amey
Mr. Amey is a managing director and a portfolio manager in the London office responsible for sterling portfolios. Prior to joining PIMCO in 2003, he was head of U.K. fixed income at Rothschild Asset Management and after their merger, at Insight Investment. Prior to joining Rothschild in 1994, Mr. Amey spent two years tutoring in the Department of Economics at the University of Durham. He has 17 years of investment experience and holds undergraduate and master's degrees in corporate and international finance from the University of Durham. Mr. Amey is also a member of the U.K. Society of Investment Professionals.

Robert Mead, CFA
Mr. Mead is a managing director in the Sydney office. In addition, he is head of portfolio management in Australia and head of Asia-Pacific credit portfolio management. Previously, he was a portfolio manager in Munich and head of the European investment grade corporate bond team. Prior to joining PIMCO in 2003, he was global head of investment grade credit research and head of non-U.S. high grade fund management at Citigroup Asset Management in London. He has 22 years of investment experience and holds an undergraduate degree from University of Technology, Sydney and a graduate diploma in Applied Finance from Securities Institute of Australia.

James Moore
Mr. Moore is a managing director in the Newport Beach office. He leads the global liability driven investments product management team and is co-head of the investment solutions group. He is also PIMCO's pension strategist. Prior to joining PIMCO in 2003, he was in the corporate derivative and asset-liability strategy groups at Morgan Stanley and responsible for asset-liability, strategic risk management and capital structure advisory work for key clients in the Americas and Pacific Rim. Mr. Moore also taught courses in investments and employee benefit plan design and finance while at the Wharton School of the University of Pennsylvania, where he earned his Ph.D. with concentrations in finance, insurance and risk management. He has 16 years of investment experience and holds undergraduate degrees from Brown University.

Marc P. Seidner, CFA
Mr. Seidner is a managing director and generalist portfolio manager in the Newport Beach office. Prior to joining PIMCO in 2009, he was a managing director and domestic fixed income portfolio manager at Harvard Management Company. He previously held portfolio management roles at Standish Mellon Asset Management and Fidelity Management and Research. He has 22 years of investment experience and holds an undergraduate degree in economics from Boston College.

About PIMCO
PIMCO is a leading global investment management firm, with offices in 10 countries throughout North America, Europe and Asia. Founded in 1971, PIMCO offers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline.

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.