NEW YORK, March 18, 2005 (PRIMEZONE) -- PIMCO California Municipal Income Fund (NYSE:PCQ) and PIMCO New York Municipal Income Fund (NYSE:PNF) (the "Funds") today announced their results for the fiscal quarter and nine months ended January 31, 2005.
California
Municipal Income
At January 31,
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2005 2004
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Net Assets(a) $409,698,400 $403,709,719
Shares Outstanding 17,811,229 17,811,229
Net Assets Value ("NAV") $14.58 $14.24
Market Price $14.24 $13.78
Premium (Discount) to NAV (2.33)% (3.23)%
New York
Municipal Income
At January 31,
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2005 2004
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Net Assets(a) $163,920,242 $165,237,517
Shares Outstanding 7,372,200 7,345,278
Net Assets Value ("NAV") $13.69 $13.92
Market Price $13.77 $13.83
Premium (Discount) to NAV 0.58% (0.65)%
(a) Net assets are inclusive of Preferred Shares issuance of $150
million and $63 million for California Municipal Income and New
York Municipal Income respectively.
California
Municipal Income
Quarter ended January 31,
2005 2004
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Net Investment Income $4,756,134 $4,706,405
Per Share $0.26 $0.26
Net Realized and Unrealized Gain/Loss $4,996,413 $(5,838,096)
Per Share $0.29 $(0.33)
New York
Municipal Income
Quarter ended January 31,
2005 2004
Net Investment Income ------ -----
Per Share $1,837,250 $1,865,037
Net Realized and Unrealized Gain/Loss $0.25 $0.25
Per Share $799,946 $3,394,997
$0.11 $0.46
California
Municipal Income
Nine months ended January 31,
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2005 2004
---- ----
Net Investment Income $14,303,930 $14,033,637
Per Share $0.80 $0.79
Net Realized and Unrealized Gain/Loss $11,171,149 $(15,270,256)
Per Share $0.63 $(0.86)
New York
Municipal Income
Nine months ended January 31,
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2005 2004
---- ----
Net Investment Income $5,610,231 $5,529,270
Per Share $0.76 $0.75
Net Realized and Unrealized Gain/Loss $1,808,317 $2,973,115
Per Share $0.25 $0.40
The Funds are closed-end management investment companies. The investment objective of each fund is to provide current income exempt from federal income tax. The California Municipal Income Fund also seeks to provide current income exempt from California state income taxes. The New York Municipal Income Fund also seeks to provide current income exempt New York state and city income taxes.
PA Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Global Investors of America, L.P., serves as the Funds' investment manager and is a member of Munich-based Allianz Group (NYSE:AZ). Pacific Investment Management Company LLC, a PA Fund Management affiliate, serves as the Funds' sub-adviser. Allianz is a leading global financial services company.
The Funds' daily New York Stock Exchange closing prices, net asset values per share as well as other information is available at www.pimcoadvisors.com or by calling the Funds' transfer agent at 1-800-331-1710.