Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 30 September 2012

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

Pacific Assets Trust plc as at 30 September 2012

Top Ten Equity Holdings                     %        
                                                     
Taiwan Semiconductor Manufacturing         6.5       
                                                     
AmorePacific                               6.2       
                                                     
Marico                                     5.5       
                                                     
DBS Group                                  4.7       
                                                     
Manila Water                               4.2       
                                                     
Satyam Computer Services                   4.2       
                                                     
Towngas China                              4.1       
                                                     
Samsung Fire & Marine Insurance            3.6       
                                                     
Singapore Telecommunications               3.6       
                                                     
Axiata Group                               3.4       
                                                     
Total                                      46.0      
                                                     
Geographical breakdown                      %        
                                                     
Singapore                                  16.0      
                                                     
India                                      15.5      
                                                     
Taiwan                                     15.2      
                                                     
South Korea                                13.9      
                                                     
Liquidity                                  9.2       
                                                     
Hong Kong                                  8.4       
                                                     
Philippines                                8.0       
                                                     
Malaysia                                   6.0       
                                                     
Thailand                                   4.6       
                                                     
China                                      1.5       
                                                     
Indonesia                                  0.7       
                                                     
Japan                                      0.4       
                                                     
Sri Lanka                                  0.4       
                                                     
Bangladesh                                 0.2       
                                                     
Total                                     100.0      
                                                     
Actual Gearing                             0.0       

Note: All percentages are based on Gross Assets.

                                    - ENDS-                                    

17 October 2012

Frostrow Capital LLP

Secretary