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PIMCO CALIFORNIA MUNICIPAL INCOME FUND

PIMCO NEW YORK MUNICIPAL INCOME FUND

REPORT RESULTS FOR THE FISCAL QUARTER AND YEAR ENDED APRIL 30, 2009

NEW YORK, July 1, 2009 -- PIMCO California Municipal Income Fund (NYSE: PCQ) and PIMCO New York Municipal Income Fund (NYSE: PNF) (the "Funds") today announced their results for the fiscal quarter and year ended April 30, 2009. The Funds are non-diversified 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 also seeks to provide current income exempt from California state income taxes. New York Municipal Income Fund also seeks to provide current income exempt from New York state and city income taxes.

 (a) California Municipal Income Fund's net assets are inclusive of market value of Preferred Shares of $150 million. New York Municipal Income Fund's net assets are inclusive of market value of Preferred Shares of $47 million and $63 million at April 30, 2009 and April 30, 2008, respectively.

(b) 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 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 year ended April 30, 2009 was $(23,877) ($(0.003) per common share) higher and (Net Realized and Change in Unrealized Loss correspondingly higher) than those figures would have been if swap amounts were treated as net income (loss) in accordance with federal income tax treatment.

(c) Note that generally there is a close correlation between what the Funds earn (net of expenses) and what they pay in monthly dividends. However, since net earning rates fluctuate from month to month while monthly dividends have remained relatively stable, there will be periods when the Funds may over-earn or under-earn their monthly dividends, which would have the effect of adding to or subtracting from the Funds' overdistributed net investment income balances. The Funds' management analyzes current and projected net earning rates prior to recommending dividend amounts to the Board of Trustees for declaration. There can be no assurance that the current dividend rates or the overdistributed net investment income balances will remain constant. In accordance with federal income tax treatment, inclusive of amounts accrued under swap agreements.

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, 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 Funds will fluctuate. There can be no assurance that the Funds will meet their stated objective. The Funds' 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.