Directorate Change

24 June 2014

                           PACIFIC ASSETS TRUST plc                            

                                (the "Company")                                

Notification of Board Changes and Directors' Details

The Company hereby announces that Mr Richard Horlick retired as a non-executive
Director of the Company on 24 June 2014.

There is no further information to be disclosed under Listing Rule 9.6.11R to
9.6.15G.

- ENDS-

For further information please contact:

Mark Pope                                                                      
Frostrow Capital LLP
020 3 008 4913