Net Asset Value(s)

PACIFIC ASSETS TRUST PLC NET ASSET VALUE The estimated un-audited net asset value, calculated in accordance with the guidelines of the Association of Investment Companies, for Pacific Assets Trust plc at the close of business on 6 September 2013 was 156.58p (ex income) 158.93p (cum income). For and on behalf of the Board Frostrow Capital LLP Secretary 9 September 2013
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