September 01, 2006 at 13:22 PM EDT
PIMCO Municipal Income Fund II, PIMCO California Municipal Income Fund II and PIMCO New York Municipal Income Fund II Declare Monthly Common Share Income Dividends

NEW YORK, N.Y., Sept. 1, 2006 (PRIMEZONE) -- The Boards of Trustees of PIMCO Municipal Income Fund II (NYSE:PML), PIMCO California Municipal Income Fund II (NYSE:PCK) and PIMCO New York Municipal Income Fund II (NYSE:PNI), (collectively, the "Funds") announced today that they have declared the following dividends on the Funds' common shares:


  PIMCO Municipal Income Fund II       $0.07       per common share
  PIMCO California Municipal 
   Income Fund II                      $0.07       per common share
  PIMCO New York Municipal 
   Income Fund II                      $0.06625    per common share

The dividends will be payable on October 2, 2006 to shareholders of record on September 11, 2006, with an ex-dividend date of September 7, 2006.

At August 31, 2006, the Funds' net assets(a) were approximately:


 PIMCO Municipal Income Fund II                   $1,379.7 mil.
 PIMCO California Municipal Income Fund II        $710.0 mil.
 PIMCO New York Municipal Income Fund II          $246.9 mil.

(a) Net assets are inclusive of Preferred Shares of $505 million, $260 million and $90 million for the Municipal Income II, California Municipal Income II and New York Municipal Income II funds, respectively.

The Funds are 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 II also seeks to provide current income exempt from California state income taxes. New York Municipal Income Fund II also seeks to provide income exempt from New York state and city income taxes.

Allianz Global Investors Fund Management LLC, 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 Allianz Global Investors Fund Management 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, including updated portfolio statistics and performance are available at www.allianzinvestors.com or by calling the Funds' shareholder servicing agent at 1-800-331-1710.

Statements made in this release that look forward in time involve risks and uncertainties and are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Funds' performance, a general downturn in the economy, competition from other companies, changes in government policy or regulation, inability to attract or retain key employees, inability to implement its operating strategy and/or acquisition strategy, and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.

CONTACT:  Christoph Hofmann
          (203) 352-4993
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