PIMCO Hires Jerome Schneider as Finance Specialist

NEWPORT BEACH, CA, Aug 05 (MARKET WIRE) --
PIMCO, one of the world's leading investment management companies, has
hired Jerome Schneider as an Executive Vice President, Portfolio Manager,
and Finance Specialist.

In this new position, Schneider will have primary responsibility for
financing operations and collateral management, as well as significant
duties in cash investing. He started in the firm's Newport Beach
headquarters in early August. Schneider will report to Paul McCulley,
Managing Director and head of the firm's Short-term Desk.

"Recruiting top notch talent has always been a central component of
PIMCO's commitment to being one of the best investment management firms
in the world," said Paul McCulley. "We look forward to having someone with
Jerome's experience on our team."

Schneider comes to PIMCO from Bear Stearns & Company Inc. where he was a
Senior Managing Director responsible for managing fixed-income's Liquid
Funding program. He had been with the firm for 13 years. Schneider holds
a Bachelor of Arts in Economics and International Relations from the
University of Pennsylvania and a MBA from New York University's Stern
School of Business.

About PIMCO

With more than $830 billion assets under management, PIMCO is one of the
world's leading fund-management companies. Founded in 1971 and based in
Newport Beach, California, the company is owned by Allianz Global
Investors, a subsidiary of the Munich-based Allianz Group, a leading
global insurance company with nearly $1.5 trillion in assets and
represented in 70 countries around the globe.

Contact:
Mark Porterfield
PIMCO - Media Relations
949-720-NEWS (6397)
www.pimco.com
Email Contact

Copyright 2008, Market Wire, All rights reserved.

-0-