Director Declaration

13 March 2012

                           PACIFIC ASSETS TRUST plc                            

                                (the "Company")                                

             Notification of Board changes and Directors' details              

Announcement is made in respect of paragraph 9.6.14R of the Listing Rules on
behalf of Nigel Rich, non executive Director.

The Company hereby announces that Nigel Rich, non-executive Director, was
appointed as a non-executive Director of British Empire Securities and General
Trust plc with effect from 5 March 2012.

                                    - END -                                    

Contact information:

Mark Pope - 020 3 008 4913
Frostrow Capital LLP
Company Secretary