PIMCO Municipal Income Fund Reports Results for the Fiscal Quarter Ended July 31, 2009

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NEW YORK--(Business Wire)--
PIMCO Municipal Income Fund (the "Fund") (NYSE: PMF), a non-diversified
closed-end management investment company which seeks to provide current income
exempt from federal income tax, today announced its results for the fiscal
quarter ended July 31, 2009.

At July 31,
2009 2008
Net Assets (a) $ 435,535,147 $ 513,149,623
Common Shares Outstanding 24,934,641 24,817,141
Net Asset Value ("NAV") $ 9.85 $ 12.62
Market Price $ 12.38 $ 16.04
Premium to NAV 25.69 % 27.10 %
Undistributed (Overdistributed) Net Investment
Income Per Common Share (b) $ 0.0537 $ (0.0216 )

Quarter ended July 31,
2009 2008
Net Investment Income $ 7,668,180 $ 6,949,228
Per Common Share $ 0.31 $ 0.28
Net Realized and Change in Unrealized Gain (Loss) $ 10,281,644 $ (8,042,315 )
Per Common Share $ 0.41 $ (0.32 )

(a) Net assets are inclusive of market value of Preferred Shares of $190 million
and $200 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 Fund
may over-earn or under-earn its monthly dividend, which would have the effect of
adding to or subtracting from the Fund's undistributed (overdistributed) net
investment income balance. Fund management analyzes the current and projected
net earning rates prior to recommending dividend amounts to the Fund's Board of
Trustees for declaration. There can be no assurance that the current dividend
rate or the undistributed (overdistributed) net investment income balance will
remain constant.

Top 5 State Positions at July 31, 2009
(as a percentage of investments)
Texas 8.2%
Illinois 7.8
California 7.7
New York 6.4
Pennsylvania 5.7

Allianz Global Investors Fund Management LLC ("AGIFM"), an indirect,
wholly-owned subsidiary of Allianz Global Investors of America L.P., serves as
the Fund's investment manager and is a member of Munich-based Allianz Group
(NYSE: AZ). Pacific Investment Management Company LLC, an AGIFM affiliate,
serves as the Fund's sub-adviser.

The Fund's daily New York Stock Exchange closing price, net asset value per
share, as well as other information, is available at
http://www.allianzinvestors.com/closedendfunds or by calling the Fund's
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 Fund will fluctuate. There can be no assurance that the Fund
will meet its stated objective. The Fund's 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.

PIMCO Closed-End Funds:
Financial Advisors: 800-628-1237
Shareholders: 800-285-4086
Media Relations: 212-739-3501

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