Dividend Declaration

NEWS RELEASE

                                                                  14 April 2014

                           PACIFIC ASSETS TRUST plc                            

                            Proposed Final Dividend                            

The Board has recommended a proposed final dividend of 2.6p per share in
respect of the year ended 31 January 2014 (2013: 2.6p per share). The proposed
dividend will be ratified by shareholders at the Annual General Meeting to be
held on 24 June 2014. Subject to shareholder approval, the dividend will be
paid on 27 June 2014 to shareholders on the register on 30 May 2014.

The associated ex-dividend date is 28 May 2014.

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For further information please contact:

Mark Pope, Company Secretary
Frostrow Capital LLP
Telephone [phone]