Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 30 June 2011

This data will be available on the Company's website, http://www.pacific-assets.co.uk from 13 July 2011.

Top Ten Equity Holdings                     %        
                                                     
Taiwan Semiconductor Manufacturing         5.2       
                                                     
DBS Group                                  4.9       
                                                     
Manila Water                               4.2       
                                                     
Singapore Telecommunications               3.9       
                                                     
Hong Kong & China Gas                      3.8       
                                                     
Samsung Fire & Marine Insurance            3.8       
                                                     
DGB Financial Group                        3.6       
                                                     
E.Sun Financial Holding                    3.5       
                                                     
Singapore Post                             3.4       
                                                     
Kasikornbank                               3.2       
                                                     
Total                                      39.5      
                                                     
Geographical breakdown                      %        
                                                     
Taiwan                                     17.3      
                                                     
Singapore                                  17.3      
                                                     
Hong Kong                                  16.0      
                                                     
South Korea                                12.7      
                                                     
India                                      11.4      
                                                     
Thailand                                   7.2       
                                                     
Philippines                                7.2       
                                                     
Liquidity                                  6.3       
                                                     
China                                      2.6       
                                                     
Malaysia                                   1.0       
                                                     
Indonesia                                  0.5       
                                                     
Sri Lanka                                  0.5       
                                                     
Total                                     100.0      
                                                     
Actual Gearing                             Nil       

Note: All percentages are based on Gross Assets.

                                    - ENDS-                                    

13 July 2011

Frostrow Capital LLP

Secretary