PCQ and PNF Report Results for the Fiscal Quarter Ended July 31, 2009

http://www.businesswire.com/news/home/20091005006380/en

* PIMCO California Municipal Income Fund
* PIMCO New York Municipal Income Fund

NEW YORK--(Business Wire)--
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 ended July 31, 2009. The Funds are non-diversified closed-end
management investment companies. The investment objective of each Fund is to
provide current income exempt from federal income tax. California Municipal
Income Fund also seeks to provide current income exempt from California state
income taxes. New York Municipal Income Fund also seeks to provide current
income exempt from New York state and city income taxes.

California Municipal Income New York Municipal Income
At July 31, At July 31,
2009 2008 2009 2008
Net Assets (a) $345,511,463 $389,294,536 $119,390,037 $156,078,325
Common Shares Outstanding 18,202,242 18,126,229 7,565,836 7,545,256
Net Asset Value ("NAV") $10.74 $13.20 $9.57 $12.34
Market Price $11.76 $15.75 $10.14 $12.44
Premium to NAV 9.50% 19.32% 5.96% 0.81%
Undistributed (Overdistributed) Net Investment Income Per Common Share (b) $0.0682 $(0.0270) $0.0433 $(0.0018)

Quarter ended July 31, Quarter ended July 31,
2009 2008 2009 2008
Net Investment Income $5,644,362 $4,774,058 $1,684,405 $1,728,899
Per Common Share $0.31 $0.26 $0.22 $0.23
Net Realized and Change in Unrealized Gain (Loss) $1,088,183 $(7,203,223) $2,500,366 $(2,739,183)
Per Common Share $0.06 $(0.40) $0.32 $(0.36)

(a) California Municipal Income Fund's net assets are inclusive of market value
of Preferred Shares of $150 million. New York Municipal Income Fund's net assets
are inclusive of market value of Preferred Shares of $47 million and $63 million
at July 31, 2009 and July 31, 2008, respectively.

(b) Since net earning rates fluctuate from month to month while monthly
dividends have remained relatively stable, there will be periods when the Funds
may over-earn or under-earn their monthly dividends, which would have the effect
of adding to or subtracting from the Funds' undistributed (overdistributed) net
investment income balances. The Funds' management analyzes current and projected
net earning rates prior to recommending dividend amounts to the Board of
Trustees for declaration. There can be no assurance that the current dividend
rates or the undistributed (overdistributed) net investment income balances will
remain constant.

Allianz Global Investors Fund Management LLC ("AGIFM"), 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, an AGIFM affiliate,
serves as the Funds' sub-adviser.

The Funds' daily New York Stock Exchange closing prices, net asset values per
share, as well as other information, is available at
http://www.allianzinvestors.com/closedendfunds or by calling the Funds'
shareholder servicing agent at (800) 254-5197.

The financial information contained herein is solely based upon the data
available at the time of publication of this press release, and there is no
assurance that any future results will be the same or similar to what is
reported herein. Information that was obtained from third party sources we
believe to be reliable is not guaranteed as to its accuracy or completeness.
This press release contains no recommendations to buy or sell any specific
securities and should not be considered investment advice of any kind. Past
performance is no guarantee of future results and the investment returns
generated by the Funds will fluctuate. There can be no assurance that the Funds
will meet their stated objective. The Funds' 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. In making any investment decision, individuals should utilize other
information sources and the advice of their own professional adviser.

For Information on PIMCO Closed-End Funds:
Financial Advisors: (800) 628-1237
Shareholders: (800) 285-4086
Media Relations: (212) 739-3501

Copyright Business Wire 2009