PIMCO's Bill Gross' May/June "Investment Outlook" Available as a Podcast Titled "How We Learned to Stop Worrying (so much) and Love 'Da Bomb'"

NEWPORT BEACH, CA -- (MARKET WIRE) -- May 21, 2007 -- PIMCO today announced that Chief Investment Officer and Founder Bill Gross' May/June "Investment Outlook" is available free of charge as a podcast on iTunes.com and pimco.com. This month includes PIMCO's much anticipated 3- to 5-year economic outlook.

Gross, the first major money manager to podcast, offers provocative views for investing and the economy. Gross' monthly investment forecast can be subscribed to at www.iTunes.com by searching podcasts for "PIMCO" or "Bill Gross." The audio can also be downloaded at www.pimco.com by clicking on the "Investment Outlook" link.

Gross has been making his "Investment Outlook" podcasts available since 2005.

About PIMCO

Founded in 1971 and based in Newport Beach, California, with more than $687 billion in fixed-income assets under management, PIMCO is one of the world's leading fixed-income fund-management companies with offices in Amsterdam, London, Munich, Toronto, Sydney, Singapore, Hong Kong, and Tokyo.

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.

Contact Information: CONTACT: Mark Porterfield PIMCO (949) 720-6397