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

Business Editors

NEW YORK--(BUSINESS WIRE)--April 1, 2004

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 May 3, 2004 to shareholders of record on April 16, 2004, with an ex-dividend date of April 14, 2004.

At March 31, 2004, the Funds' net assets(A) were approximately:

PIMCO Corporate Income Fund        $  853.5  mil.
PIMCO Corporate Opportunity Fund   $1,664.6  bil.
PIMCO High Income Fund             $2,665.0  bil.

(A) Net assets are inclusive of Preferred Shares of $300 million,
    $565 million and $900 million for the Corporate Income,
    Corporate Opportunity and High Income funds, respectively.

The Funds are closed-end management investment companies. The primary objective of the Corporate Income Fund is to seek high current income with secondary objectives of capital preservation and appreciation. The investment objective of the Corporate Opportunity Fund is to seek maximum total return through a combination of current income and capital appreciation. The High Income Fund's primary objective is to seek high current income with capital appreciation as a secondary objective.

PIMCO Advisors Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Dresdner Asset Management 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, a PIMCO Advisors Fund Management affiliate, serves as the Funds' sub-adviser. Allianz is a leading global financial services company.

The Funds' daily New York Stock Exchange closing prices, net asset values per share as well as other information are available at www.pimcoadvisors.com or by calling 1-800-331-1710.