PIMCO Foundation to Support Orange County Seniors

NEWPORT BEACH, CA--(Marketwire - June 15, 2007) - The PIMCO Foundation, the charitable organization of the Newport Beach-based fixed income manager firm PIMCO, will partner with local non-profit, South County Senior Services (SCSS) to sponsor "Thanksgiving in June" on Wednesday, June 20, 2007.

The PIMCO Foundation's generous funding and support will feed over 1,800 seniors/frail elderly on June 20th throughout South Orange County. The meals will be delivered to homebound seniors and served at local senior centers, helping seniors maintain their independence and quality of life.

South County Senior Services serve 1,800+ seniors/frail elderly daily, meeting their educational, nutritional, recreational, social, or human service needs at various senior centers within a 400-square mile service area in South Orange County.

When asked how the idea to do "Thanksgiving in June" got started, Mark Porterfield, Executive Director of The PIMCO Foundation states, "I don't know anyone who doesn't like Thanksgiving. We wanted to spread a little joy to those who are often overlooked."

Because the senior population of South Orange County presently constitutes "the oldest of the old" with a steadily increasing population over the age of 85, many of South County Senior Services' clients are the frail, homebound, low-income, isolated elderly, who are underinsured or uninsured. There are 39,695 elderly over the age of 85 who are aging in place with multiple chronic conditions and health problems. By 2010, this population is projected to grow to 54,011.

Due to its mission, SCSS continues to take the lead in Orange County by addressing the needs of this often forgotten group. The non-profit organization served 425,707 Meals on Wheels and 104,920 Congregate Meals last year alone.

About The PIMCO Foundation

The PIMCO Foundation was established in 2001 and seeks to improve the quality of life in the community by supporting organizations that promote education, health, or youth-related issues -- all of which will help people in need to lead more rewarding and responsible lives. For more information, click on the Foundation link at www.pimco.com

About South County Senior Services

SCSS is a non-profit, public benefit 501 (C)(3) organization located in Laguna Woods, California. Since 1975, we have been providing critical services, resources, and programs to the low-income seniors of South Orange County.

Our community-based services emphasize a continuum of care and include the following network of services: Adult Day Health Care and Alzheimer's Social Day Care; home-delivered and congregate meals with nutritional and administrative staff at 13 sites in South Orange County; case management; in-home support; transportation; and health and wellness programs. Go to www.southcountyseniors.org for more information.

Contact Information: Contacts: Mark Porterfield The PIMCO Foundation Executive Director (949) 723-GIVE Becky Lomaka South County Senior Services Director of Fund Development (949) 855-8033