PIMCO Corporate Income Fund, PIMCO Corporate Opportunity Fund and PIMCO High Income Fund Declare Monthly Common Share Income Dividends

NEW YORK, Sept. 1, 2006 (PRIMEZONE) -- The Boards of Trustees of PIMCO Corporate Income Fund (NYSE:PCN), PIMCO Corporate Opportunity Fund (NYSE:PTY) and PIMCO High Income Fund (NYSE:PHK) (collectively, the "Funds") announced today that they have declared the following dividends on the Funds' common shares:

 PIMCO Corporate Income Fund         $0.10625   per common share
 PIMCO Corporate Opportunity Fund    $0.1375    per common share
 PIMCO High Income Fund              $0.121875  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(see Note) were approximately:

 PIMCO Corporate Income Fund         $825.7 mil.
 PIMCO Corporate Opportunity Fund    $1,563.1 mil.
 PIMCO High Income Fund              $2,592.8 mil.

Note: Net assets are inclusive of market value of Preferred Shares of $300 million, $565 million and $900 million for PCN, PTY and PHK, respectively.

The Funds are closed-end management investment companies. The primary objective of PCN is to seek high current income with secondary objectives of capital preservation and appreciation. The investment objective of PTY is to seek maximum total return through a combination of current income and capital appreciation. PHK's primary objective is to seek high current income with capital appreciation as a secondary objective. There can be no assurance the Funds will meet their objectives.

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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