NEWPORT BEACH, CA--(Marketwire - August 14, 2009) - PIMCO, a leading global investment management firm, announced today that it has hired Marc P. Seidner as an Executive Vice President and Portfolio Manager based in the firm's Newport Beach, California office. Mr. Seidner will manage a range of fixed income portfolios, as well as contribute actively to the formulation of the firm's investment strategies. Mr. Seidner's first day at PIMCO is Monday August 17, 2009.

"Marc is a seasoned and extremely talented investment professional. We are delighted to have him on PIMCO's portfolio management team. His addition will help to further strengthen our ability to deliver value to our clients," said Bill Gross, PIMCO's co-CIO.

Marc has 21 years of investment experience, and joins PIMCO from Harvard Management Company, where he was Managing Director, Domestic Fixed Income Portfolio Manager. Previously he held senior portfolio management roles with Standish Mellon Asset Management and Fidelity Management and Research Company. Mr. Seidner earned his undergraduate degree in economics from Boston College. He is also a CFA charterholder.

About PIMCO

PIMCO is a global investment management firm that was founded in Southern California in 1971. The firm manages investments for an array of clients, including retirement and other assets that reach more than 8 million people in the U.S. and millions more around the world. Its clients include state, municipal and union pension and retirement plans, individual and investment saving accounts, and public sector reserve management.

PIMCO has more than 1,200 employees, which includes 800 people at its headquarters in Newport Beach, California. The firm also has offices in New York City, Toronto, London, Munich, Amsterdam, Tokyo, Hong Kong, Singapore and Sydney.

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 - Media Relations 949-720-NEWS (6397)