Company Press Release

NEWPORT BEACH, CA--(August 17, 2011) - PIMCO, a leading global investment management firm, has hired two senior portfolio managers on its real return portfolio management team, based in the Newport Beach office: Greg Sharenow will join the firm on September 7th as an Executive Vice President and Portfolio Manager, and Jeremie Banet joined the firm on August 1st as a Senior Vice President and Portfolio Manager.

"These two new senior portfolio managers will expand further PIMCO's capabilities and enhance the firm's ability to serve the increased client demand for our real return investment solutions," said Mihir Worah, Managing Director and head of PIMCO's Real Return Portfolio Management team.

Mr. Sharenow has 11 years of investment experience and most recently was a proprietary energy trader with Hess Energy Trading Company in New York. Previously he was an Executive Director and proprietary commodities trader with Goldman Sachs in London. Earlier in his career, Mr. Sharenow was an energy trader at DE Shaw & Co, and he began his career conducting commodities research and financial analysis at Goldman. He earned a B.A. magna cum laude from Northwestern University, where he focused on mathematical methods in the social sciences and economics.

Mr. Banet joined the real return portfolio management team earlier this month. Previously, he traded inflation-linked investments at Nomura Fixed Income. Prior to that, Mr. Banet was with BNP Paribas, most recently as head of U.S. inflation trading. He has 11 years of investment and financial services experience and holds a masters degree in applied economics and an undergraduate degree from Paris IX Dauphine University.

About PIMCO


PIMCO is a global investment management firm that was founded in Southern California in 1971. The firm serves an array of clients and manages retirement and other assets that reach more than 8 million people in the U.S. and millions more around the world. Our clients include state, municipal, union and private sector pension and retirement plans, educational, foundations, endowments, philanthropic and healthcare institutions, individual and investment saving accounts, public sector reserve management and other public entities in North and South America, Europe, the Middle East and Asia.

PIMCO has more than 1,800 employees. In addition to its headquarters in Newport Beach, California, the firm has offices in Amsterdam, Hong Kong, London, Munich, New York City, Singapore, Sydney, Tokyo, Toronto and Zurich.

PIMCO is owned by Allianz S.E., a global diversified financial services provider.

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 statement.


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