Directorate Change

29 July 2015

PACIFIC ASSETS TRUST plc (the “Company”)

Board of Directors

The Board of Pacific Assets Trust plc is pleased to announce the appointment of Ms Sian Hansen as an independent Non-Executive Director of the Company, with effect from Monday, 3 August 2015.

Sian Hansen is currently the Executive Director of the Legatum Institute, a global public policy think tank and educational charity. Legatum Institute’s mission is to promote prosperity through individual liberty, free enterprise and entrepreneurship, character and values. Previously Sian spent seven years as the Managing Director of the UK think tank Policy Exchange; an educational charity promoting research and discourse on public policy. Sian is a Non-Executive Director of the JP Morgan Income and Capital Trust plc and has recently been appointed to the Advisory Board of Cerno Capital PLC.  She also sits on the Board of the Centre for Entrepreneurs and is a Commissioner of The Women's Refugee Commission (USA). She was formerly Head of Sales for Asian Equities at Société Générale. Prior to this she was an equity analyst and broker with Enskilda Securities in Europe.

A resolution proposing the election of Ms Hansen as a Non-Executive Director will be considered by shareholders at the Annual General Meeting of the Company to be held on 29 June 2016.

Ms Hansen currently holds no ordinary shares in the Company.

There is no further information to be disclosed under Listing Rule 9.6.13R(2) to (6).

- ENDS-

For further information please contact:

Mark Pope

Frostrow Capital LLP

020 3 008 4913