PCM Fund, Inc. Reports Results for the Fiscal Quarter and Nine Months Ended

pan>)--PCM Fund, Inc. (the Fund) (NYSE: PCM), a non-diversified, closed-end
management investment company, which seeks high current income as a
primary objective and capital gain from the disposition of investments
as a secondary objective, today announced its results for the fiscal
quarter and nine months ended September 30, 2012.

At September 30,
2012

2011
Net Assets
$129,533,565
$110,644,076
Shares Outstanding
11,490,711
11,468,136
Net Asset Value (NAV)
$11.27
$9.65
Market Price
$12.41
$10.10
Premium to NAV
10.12%
4.66%
Undistributed Net Investment
Income Per Share (b)
$0.3189
$0.2375

Quarter ended September 30,
2012
2011
Net Investment Income (a)
$1,931,027
$2,255,880
Per Share (a)
$0.17
$0.19
Net Realized and Change in Unrealized Gain (Loss) (a)
$12,514,100
$(6,615,087)
Per Share (a)
$1.08
$(0.57)

Nine Months ended September 30,
2012
2011
Net Investment Income (a)
$8,055,899
$8,776,057
Per Share (a)
$0.70
$0.76
Net Realized and Change in Unrealized Gain (Loss) (a)
$20,757,100
$(3,145,858)
Per Share (a)
$1.81
$(0.27)
(a) The information provided is in accordance with generally
accepted accounting principles (GAAP), which requires the Fund
to treat amounts accrued by the Fund under swap agreements as net
realized and unrealized gain (loss). However, these amounts are
treated as net income (loss) for federal income tax purposes. By
using GAAP, Net Investment Income for the fiscal quarter and nine
months ended September 30, 2012 was $82,486 ($0.01 per share) and
$238,622 ($0.02 per share) lower, respectively, and Net Realized
and Change in Unrealized Gain correspondingly higher than those
figures would have been if swap amounts were treated as net
investment income. By using GAAP, Net Investment Income for the
fiscal quarter and nine months ended September 30, 2011 was
$86,862 ($0.01 per share) and $224,396 ($0.02 per share) lower,
respectively, and Net Realized and Change in Unrealized Loss
correspondingly lower than those figures would have been if swap
amounts were treated as net investment income.

(b) Since the Funds net earning rates fluctuate from month to
month, there will be periods when the Fund may over-earn or
under-earn its monthly dividend rate. This fluctuation will have
the effect of adding to or subtracting from the Funds
undistributed net investment income balance. Fund management
analyzes the current and projected net earning rates prior to
recommending dividend amounts to the Funds Board of Directors for
declaration. There can be no assurance that the monthly dividend
rate will remain at its current level or that the undistributed
net investment income balance will be sufficient to cover any
shortfall in earnings to meet the current dividend rate. The
undistributed net investment income balance is inclusive of swap
income (loss) and paydown gains in accordance with federal income
tax treatment of these items.
Allianz Global Investors Fund Management LLC (AGIFM), an indirect,
wholly-owned subsidiary of Allianz Asset Management of America L.P.,
serves as the Funds investment manager and is a member of Munich-based
Allianz Group. Pacific Investment Management Company LLC, an AGIFM
affiliate, serves as the Funds sub-adviser.
The Funds daily New York Stock Exchange closing market price, NAV, 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 Fund will fluctuate. There
can be no assurance the Fund will meet its stated objective. In making
any investment decision, individuals should utilize other information
sources and the advice of their own professional adviser.

Information Source: Business Wire

December 1st, 2012 @ 05:30pm