Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 31 August 2011

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

Top Ten Equity Holdings                        %        
                                                        
Taiwan Semiconductor Manufacturing            5.1       
                                                        
DBS Group                                     4.8       
                                                        
Manila Water                                  4.6       
                                                        
Hong Kong & China Gas                         4.4       
                                                        
Singapore Telecommunications                  4.1       
                                                        
DGB Financial Group                           3.7       
                                                        
Samsung Fire & Marine Insurance               3.7       
                                                        
Kasikornbank                                  3.4       
                                                        
Singapore Post                                3.3       
                                                        
SMRT                                          3.1       
                                                        
Total                                        40.2       
                                                        
Geographical breakdown                         %        
                                                        
Singapore                                    17.3       
                                                        
Taiwan                                       17.0       
                                                        
Hong Kong                                    16.0       
                                                        
South Korea                                  12.8       
                                                        
India                                        11.8       
                                                        
Philippines                                   7.9       
                                                        
Thailand                                      6.9       
                                                        
Liquidity                                     5.9       
                                                        
China                                         2.0       
                                                        
Malaysia                                      1.4       
                                                        
Indonesia                                     0.5       
                                                        
Sri Lanka                                     0.5       
                                                        
Total                                        100.0      
                                                        
Actual Gearing                                0.0       

Note: All percentages are based on Gross Assets.

                                    - ENDS-                                    

13 September 2011

Frostrow Capital LLP

Secretary