NEW YORK, Feb. 27, 2009 (GLOBE NEWSWIRE) -- The Board of Directors of PIMCO Municipal Advantage Fund Inc. (the "Fund") (NYSE:MAF), a closed-end management investment company, announced today that the Annual Stockholder Meeting with respect to the proposal to liquidate the Fund has been adjourned to Friday, March 13, 2009, at 9:30 a.m. Eastern time.
The proposal to liquidate is outlined within the Fund's latest proxy statement. Stockholders are strongly encouraged to vote by proxy, which is customary in corporate meetings of this kind. You may also vote by calling 1-866-450-8469.
Allianz Global Investors Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Global Investors of America L.P., serves as the Fund's investment manager and is a member of Munich-based Allianz Group (NYSE:AZ). Pacific Investment Management Company LLC, an Allianz Global Investors Fund Management affiliate, serves as the Fund's sub-adviser.
The Fund's daily New York Stock Exchange closing price, net asset value per share, as well as other information, including updated portfolio statistics and performance is available at www.allianzinvestors.com or by calling the Fund's shareholder servicing agent at (800) 331-1710.
Statements made in this release that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, uncertainty as to whether stockholder approval for the proposed liquidation of the Fund will be obtained, the adverse effect from further declines in the securities markets and in the Fund's performance, a general downturn in the economy, competition from other companies, changes in government policy or regulation, inability to attract or retain key employees, inability to implement their operating strategy and/or acquisition strategy, and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations. The Fund's ability to pay dividends to common shareholders is subject to the restrictions in their registration statements, By-laws and other governing documents as well as the Investment Company Act of 1940, as amended.