Directorate Change

PACIFIC ASSETS TRUST plc (the “Company”)

Notification of Board Changes

The Company hereby announces that Mr Nigel Rich has retired as a non-executive Director of the Company on 29 June 2016.

It is further announced that Ms Charlotta Ginman has taken over from Mr Nigel Rich as the Senior Independent Director.

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