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UPDATE: PIMCO Global Income Opportunities Fund Completes $600 Million Initial Public Offering

Not for Distribution to United States Newswire Services or for Dissemination in the United States

TORONTO, ON -- (Marketwired) -- 03/21/14 -- PIMCO Canada Corp. (the "Manager") is pleased to announce the closing of the initial public offering of PIMCO Global Income Opportunities Fund (TSX: PGI.UN) (the "Fund"). Pursuant to the offering, the Fund issued an aggregate 60 million Class A Units (the "Class A Units") at a price of $10 per Class A Unit for gross proceeds of $600 million. The Class A Units are listed on the Toronto Stock Exchange under the symbol PGI.UN.

The Fund has been created to invest in an actively managed portfolio (the "Portfolio") comprised primarily of fixed-income securities selected from multiple global fixed-income sectors. The Manager has retained Pacific Investment Management Company, LLC ("PIMCO") to provide investment management services to the Fund.

The Fund's investment objectives are to:

(a) provide unitholders with monthly cash distributions;
(b) maximize total return to unitholders through distributions and capital appreciation; and
(c) preserve capital.

The Fund will not have a fixed monthly distribution amount but intends to make cash distributions monthly. The Fund's monthly distributions are initially targeted to be 6.5% per annum on the original subscription price (or $0.05417 per Class A Unit per month or $0.65 per annum).

The syndicate of Agents was co-led by RBC Capital Markets, CIBC, TD Securities and National Bank Financial, and includes Scotiabank, BMO Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., Manulife Securities Inc., Raymond James Ltd., Desjardins Securities, and Mackie Research Capital Corp.

The Fund has granted the Agents an over-allotment option to acquire additional Class A Units at $10.00 per Class A Unit at any time during the next 30 days.

The Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States or in reliance on an exemption from such registration requirements. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the Fund's securities referred to herein in the United States.

About PIMCO

PIMCO is a leading global investment management firm, with offices in 12 countries throughout the Americas, Europe and Asia. PIMCO had approximately U.S. $1.9 trillion in assets under management as of December 31, 2013. Founded in 1971, PIMCO offers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.

The offering of Class A Units is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from a registered representative of any of the Dealers listed in the prospectus. Investors should read the prospectus before making an investment decision. Commissions, management fees and expenses all may be associated with an investment in the Class A Units. The Class A Units are not guaranteed, their value may change frequently and past performance may not be repeated.

Contact:
Agnes Crane
PIMCO
Media Relations
Phone: +212 739.4212

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