Holding(s) in Company

For filings with the FSA include the                                           
annex                                                                          
                                                                               
For filings with issuer exclude the                                            
annex                                                                          
                                                                               
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                                
                                                                               
1. Identity of the issuer or the underlying Pacific Assets Trust plc           
issuer                                                                         
of existing shares to which voting rights                                      
are                                                                            
attached: ii                                                                   
                                                                               
2 Reason for the notification (please tick the appropriate box or boxes):      
                                                                               
An acquisition or disposal of voting rights                               x    
                                                                               
An acquisition or disposal of qualifying financial instruments which           
may result in the acquisition of shares already issued to which voting         
rights are attached                                                            
                                                                               
An acquisition or disposal of instruments with similar economic effect         
to qualifying financial instruments                                            
                                                                               
An event changing the breakdown of voting rights                               
                                                                               
Other (please                                                                  
specify):                                                                      
                                                                               
3. Full name of person(s) subject to Brewin Dolphin Limited                    
the                                                                            
notification obligation: iii                                                   
                                                                               
4. Full name of shareholder(s)                                                 
(if different from 3.):iv                                                      
                                                                               
5. Date of the transaction and date  16 January 2012                           
on                                                                             
which the threshold is crossed or                                              
reached: v                                                                     
                                                                               
6. Date on which issuer notified:    17 January 2012                           
                                                                               
7. Threshold(s) that is/are crossed  5%                                        
or                                                                             
reached: vi, vii                                                               

5,852,2795,852,279

8. Notified details:                                                              
                                                                                  
A: Voting rights attached to shares viii, ix                                      
                                                                                  
Class/type   Situation previous    Resulting situation after the triggering       
of           to the triggering     transaction                                    
shares       transaction                                                          
                                                                                  
             Number    Number      Number    Number of voting  % of voting rights 
if possible  of        of          of shares rights            x                  
using        Shares    Voting                                                     
the ISIN               Rights      Direct    Direct  Indirect  Direct    Indirect 
CODE                                         xi      xii                          
                                                                                  
ORD GBP                            N/A       N/A     5,795,455 N/A       4.9598%  
0.125                                                                             
                                                                                  
GB0006674385                                                                      
                                                                                  
B: Qualifying Financial Instruments                                               
                                                                                  
Resulting situation after the triggering transaction                              
                                                                                  
Type of financial Expiration Exercise/           Number of voting  % of voting    
instrument        date xiii  Conversion Period   rights that may   rights         
                             xiv                 be                               
                                                 acquired if the                  
                                                 instrument is                    
                                                 exercised/                       
                                                 converted.                       
                                                                                  
C: Financial Instruments with similar economic effect to Qualifying Financial     
Instruments xv, xvi                                                               
                                                                                  
Resulting situation after the triggering transaction                              
                                                                                  
Type of       Exercise Expiration Exercise/  Number of voting    % of voting      
financial     price    date xvii  Conversion rights instrument   rights xix, xx   
instrument                        period     refers to                            
                                  xviii                                           
                                                                                  
                                                                 Nominal    Delta 
                                                                                  
Total (A+B+C)                                                                     
                                                                                  
Number of voting rights                 Percentage of voting rights               
                                                                                  
5,795,455                               4.9598%                                   

9. Chain of controlled undertakings through which the voting rights and/or the 
financial instruments are effectively held, if applicable: xxi                 
                                                                               
Indirect - Brewin Nominees Limited - 907,539 -0.7767%                          
                                                                               
Indrect - Brewin Nominees (Channel Islands) Limited - 121,430 - 0.1039%        
                                                                               
Indirect - Giltspur Nominees Limited - 3,059,365 - 2.6182%                     
                                                                               
Indirect - Brewin Nominees Limited - 1,144,171 - 0.9792%                       
                                                                               
Indirect - Brewin Nominees Limited A/c Charity - 164,050 - 0.1404%             
                                                                               
Indirect - Brewin Nominees Limited A/c Offbond - 398,900 - 0.3414%             
                                                                               
Proxy Voting:                                                                  
                                                                               
10. Name of the proxy holder:                     N/A                          
                                                                               
11. Number of voting rights proxy holder will                                  
cease                                                                          
to hold:                                                                       
                                                                               
12. Date on which proxy holder will cease to hold                              
voting rights:                                                                 
                                                                               
                                       Figures based on shares in issue of     
13. Additional information:            116,848,386. The indirect voting rights 
                                       under (9) relate to shares held in      
                                       client portfolios, managed by those     
                                       firms, under discretionary investment   
                                       management agreements.                  
                                                                               
14. Contact name:                      Gill Keppie                             
                                                                               
15. Contact telephone number:          0191 279 7605