Contact: Christoph Hofmann

(800) 285-4086

PIMCO Municipal Income Fund II

PIMCO California Municipal Income Fund II

PIMCO New York Municipal Income Fund II

Declare Monthly Common Share Income Dividends

NEW YORK, Dec. 3, 2007 (PRIME NEWSWIRE) -- 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:

The dividends will be payable on December 31, 2007 to shareholders of record on December 13, 2007, with an ex-dividend date of December 11, 2007.

At November 30, 2007, the Funds' net assets (a) were approximately:

(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 (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.