PIMCO Municipal Income Fund Reports Results for the Fiscal Quarter and Nine Months Ended January 31, 2005


NEW YORK, March 18, 2005 (PRIMEZONE) -- PIMCO Municipal Income Fund (the "Fund") (NYSE:PMF), a closed-end management investment company which seeks to provide current income exempt from federal income tax, today announced its results for the fiscal quarter and nine months ended January 31, 2005.


                                              At January 31,
                                              --------------
                                         2005               2004
                                         ----               ----
 Net Assets(a)                       $558,067,719       $551,397,790
 Shares Outstanding                    24,278,599         24,192,977
 Net Assets Value ("NAV")                  $14.75             $14.52
 Market Price                              $14.90             $14.54
 Premium to NAV                              1.02%              0.14%

 (a) Net assets are inclusive of Preferred Shares issuance
     of $200 million.

                                          Quarter ended January 31,
                                          -------------------------
                                         2005               2004
                                         ----               ----
 Net Investment Income                 $6,835,526         $6,989,561
 Per Share                                  $0.28              $0.30
 Net Realized and Unrealized Gain      $9,904,591        $15,739,534
 Per Share                                  $0.40              $0.65


                                        Nine months ended January 31,
                                        -----------------------------
                                        2005                  2004
                                        ----                  ----
 Net Investment Income                $20,861,677         $21,072,735
 Per Share                                  $0.86               $0.87
 Net Realized and Unrealized Gain     $14,358,102          $9,972,087
 Per Share                                  $0.59               $0.41


                           Top 5 State Positions at January 31, 2005
                                (as a percentage of investments)
                           -----------------------------------------
 Illinois                                    14.8%
 Texas                                        14.3
 Louisiana                                    6.9
 Michigan                                     4.9
 South Carolina                               4.4

PA Fund Management LLC, 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 (NYSE:AZ). Pacific Investment Management Company LLC, a PA Fund Management affiliate, serves as the Fund's sub-adviser. Allianz is a leading global financial services company.

The Fund's daily New York Stock Exchange closing price, net asset value per share as well as other information is available at www.pimcoadvisors.com or by calling the Fund's transfer agent at 1-800-331-1710.



            

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