Pimco Global StocksPLUS(R) & Income Fund Reports Results for the Fiscal Quarter and Year Ended March 31, 2010

NEW YORK, Jun 01, 2010 (BUSINESS WIRE) -- PIMCO Global StocksPLUS(R) & Income Fund (the "Fund") /quotes/comstock/13*!pgp/quotes/nls/pgp  (PGP  17.08, +0.12, +0.71%) , a non-diversified, closed-end management investment company which seeks total return comprised of current income, current gains and long-term capital appreciation, today announced its results for the fiscal quarter and year ended March 31, 2010.

(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 year ended March 31, 2010 was $1,341,817 ($0.13 per share) and $4,044,629 ($0.40 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 income in accordance with federal income tax treatment. By using GAAP, Net Investment Income for the fiscal quarter and year ended March 31, 2009 was $2,420,935 ($0.20 per share) and $13,581,050 ($1.39 per share) lower, respectively and Net Realized and Change in Net Unrealized Loss correspondingly lower than those figures would have been if swap amounts were treated as net income in accordance with federal income tax treatment.

(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 Fund's 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. In accordance with federal income tax treatment, inclusive of swap income (loss), foreign currency gain (loss) and paydown gains.

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. Pacific Investment Management Company LLC, an affiliate of AGIFM, 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 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. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.

SOURCE: PIMCO Closed-End Funds

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




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From MARKET WATCH published on June 1, 2010, 4:00 p.m. EDT