Manager Profile This general information is provided by and used with the permission of this manager. It may not contain information about the Pacific Select Fund portfolios managed by this manager. Pacific Select Fund portfolios are available only through variable products. Pacific Investment Management Company LLC (PIMCO) Established in 1971; led by William Gross, noted bond manager More than $667.8 billion in assets under management as of 12/31/06 PIMCO manages portfolios and funds to produce maximum total return (income plus capital appreciation). The process includes meeting with leading outside experts to develop a three- to five-year outlook for the economy and interest rates. Quarterly economic forums help to determine how the outlook applies to upcoming months and to forecast specific influencing factors. Investment decisions are made based on this information. PIMCO uses innovative proprietary programs to identify investment opportunities and measure risk. Value Added Strategies PIMCO adds value through a variety of techniques to maximize return and minimize volatility: cost effective trading; proprietary quantitative analysis; credit analysis; issue selection; and sector rotation. Bios Mihir P. Worah Executive Vice President, Portfolio Manager Mr. Worah has managed the PL Inflation Fund since 2008. He is a member of PIMCO’s government and derivatives desk. Mr. Worah has been a portfolio manager at PIMCO since 2003 and is responsible for the day-to-day management of the fund’s assets. He has more than eight years of investment experience. Mr. Worah has a B.S. from Lafayette College and a PhD from the University of Chicago. William H. Gross, CFA Managing Director and Chief Investment Officer Mr. Gross was a founding partner of PIMCO in 1971. Mr. Gross is the author of Bill Gross on Investing. He has an M.B.A. from the UCLA Graduate School of Business. Inflation Managed Objectives and Investments Maximize total return consistent with prudent investment management through investment in fixed income securities of varying maturities with a focus on inflation-indexed bonds and forward contracts and derivatives relating to such securities. Benchmark    LBGR TIPS The Lehman Brothers Global Real: U.S. TIPS Index, (formerly called the Lehman Brothers Inflation Linked Treasury Index) is an index of all outstanding treasury inflation protected securities issued by the U.S. government, and is the portfolio's primary benchmark index. Results include reinvested dividends. The Lehman Brothers Government Bond Index is an index of fixed income securities issued by the U.S. government and its agencies. Results include reinvested dividends. Investment Style    Inflation-protected bond Based on information from Morningstar, Inc., 2008. Managed Bond Objectives and Investments Maximize total return consistent with prudent investment management through investment in medium and high-quality fixed income securities with varying terms to maturity and derivatives relating to such securities or related indices. Benchmark    Lehman Brothers Aggregate Bond Index Lehman Brothers Aggregate Bond Index is an index made up of the Lehman Brothers Government/Corporate Bond Index, Mortgage-Backed Securities Index, and Asset-Backed Securities Index, including securities that are of investment-grade quality or better, have at least one year to maturity and have an outstanding par value of at least $100 million. Results include reinvested dividends. Investment Style    Intermediate-term bond Based on information from Morningstar, Inc., 2008.

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