-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 E2K+ferDerxE+rHke3aX9zJjklK0yc+Aa6jsJa+zfoBBnM4kUhO+WwP/TmLOBBZr
 svDC+c4vzjSbHKKAcJA2CA==

<SEC-DOCUMENT>0000908187-04-000002.txt : 20040301
<SEC-HEADER>0000908187-04-000002.hdr.sgml : 20040301
<ACCEPTANCE-DATETIME>20040301151944
ACCESSION NUMBER:		0000908187-04-000002
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040301
EFFECTIVENESS DATE:		20040301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO COMMERCIAL MORTGAGE SECURITIES TRUST INC
		CENTRAL INDEX KEY:			0000908187
		IRS NUMBER:				521834031
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07816
		FILM NUMBER:		04638957

	BUSINESS ADDRESS:	
		STREET 1:		840 NEWPORT CENTER DR
		STREET 2:		STE 360
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660
		BUSINESS PHONE:		714-760-48

	MAIL ADDRESS:	
		STREET 1:		840 NEWPORT CENTER DR
		STREET 2:		STE 360
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660
</SEC-HEADER>
<DOCUMENT>
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<SEQUENCE>1
<FILENAME>answer.fil
<TEXT>
<PAGE>      PAGE  1
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SIGNATURE   JOHN P. HARDAWAY
TITLE       TREASURER


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77E
<SEQUENCE>3
<FILENAME>r77e.txt
<TEXT>
77E                          Legal Proceedings


PIMCO Commercial Mortgage Securities Trust, Inc.

On February 17, 2004, the Attorney General of New Jersey filed a complaint
against Allianz Dresdner Asset Management of America L.P. ("ADAM"); PIMCO
Advisors Distributors LLC ("PAD"); PEA Capital LLC (formerly known as PIMCO
Equity Advisors LLC) ("PEA"); and Pacific Investment Management Company LLC
("PIMCO") in connection with its investigation into market timing and late
trading.  The complaint alleges, among other things, that inappropriate
trading by shareholders engaged in market timing activity took place in funds
in the PIMCO Funds: Multi-Manager Series ("MMS Funds") and the PIMCO Funds:
Pacific Investment Management Series ("PIMS Funds").  On February 17, 2004,
a putative class action lawsuit was filed in the United States District Court
for the District of Connecticut on behalf of certain shareholders of the PIMCO
Funds against ADAM, PEA, PIMCO, PIMS Funds, MMS Funds and certain other
defendants, alleging that the investment advisers to certain of the MMS Funds
and PIMS Funds inappropriately used fund assets to pay brokers to promote the
Funds by directing fund brokerage transactions to such brokers and did not
fully disclose such arrangements to shareholders. On February 20, 2004, a
putative class action lawsuit was filed in the United States District Court
for the District of New Jersey on behalf of certain shareholders of the PIMCO
Funds against ADAM, PAD, PIMCO, PEA, PIMS Funds, MMS Funds, PIMCO Variable
Insurance Trust, PIMCO Commercial Mortgage Securities Trust, Inc. and certain
other defendants, relating to the same facts that are the subject of the
regulatory proceedings discussed above. Both of the class action lawsuits
seek unspecified compensatory damages.  ADAM and the PIMCO-related entities
are conducting a thorough internal investigation into the matters raised in
the complaints.  The New Jersey Attorney General's complaint does not allege
any market timing activity took place in the Fund, and the class action
complaint filed in Connecticut does not name the Fund as a party.

These legal and regulatory developments do not relate to closed-end investment
companies such as the Fund.  Although it is not possible to predict what, if
any, effect the foregoing will have on the market for shares of the Fund,
PIMCO has notified the Fund that PIMCO does not believe that these
developments will have a material adverse effect on PIMCO's ability to
perform its advisory services to the Fund.





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B
<SEQUENCE>4
<FILENAME>r77b.txt
<TEXT>
77B     Accountant's Report on Internal Control


                      Report of Independent Accountants


To the Shareholders and Directors of the
PIMCO Commercial Mortgage Securities Trust, Inc.

In planning and performing our audit of the financial statements of the PIMCO
Commercial Mortgage Securities Trust, Inc. (the "Trust") for the year ended
December 31, 2003, we considered its internal control, including control
activities for safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR, not to provide
assurance on internal control.

The management of the Trust is responsible for establishing and maintaining
internal control.  In fulfilling this responsibility, estimates and judgments
by management are required to assess the expected benefits and related costs
of controls.  Generally, controls that are relevant to an audit pertain to
the entity's objective of preparing financial statements for external purposes
that are fairly presented in conformity with generally accepted accounting
principles.  Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.

Because of inherent limitations in internal control, errors or fraud may
occur and not be detected.  Also, projection of any evaluation of internal
control to future periods is subject to the risk that controls may become
inadequate because of changes in conditions or that the effectiveness of their
design and operation may deteriorate.

Our consideration of internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants.  A
material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions.  However, we noted no matters
involving internal control and its operation, including controls for
safeguarding securities, that we consider to be material weaknesses as
defined above as of December 31, 2003.

This report is intended solely for the information and use of the Board of
Directors, management and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other than these specified
parties.



February 26, 2004
/s/ PricewaterhouseCoopers  LLP

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
