Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 31 December 2013

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

Pacific Assets Trust plc as at 31 December 2013

Top Ten Equity Holdings                     %        
                                                     
Tech Mahindra                              6.4       
                                                     
Marico                                     5.0       
                                                     
Taiwan Semiconductor Manufacturing         3.7       
                                                     
Towngas China                              3.4       
                                                     
Dabur India                                3.4       
                                                     
Samsung Fire & Marine Insurance            3.3       
                                                     
Public Bank                                3.3       
                                                     
E.Sun Financial Holding                    3.3       
                                                     
Delta Electronics (Thailand)               3.2       
                                                     
Standard Foods                             3.2       
                                                     
Total                                      38.2      
                                                     
Geographical breakdown                      %        
                                                     
India                                      26.0      
                                                     
Taiwan                                     17.2      
                                                     
Singapore                                  10.3      
                                                     
South Korea                                8.4       
                                                     
Philippines                                6.9       
                                                     
Thailand                                   5.9       
                                                     
Hong Kong                                  5.3       
                                                     
Malaysia                                   5.2       
                                                     
China                                      4.6       
                                                     
Indonesia                                  1.4       
                                                     
Sri Lanka                                  0.7       
                                                     
Bangladesh                                 0.5       
                                                     
Liquidity                                  7.6       
                                                     
Total                                     100.0      
                                                     
Actual Gearing                             0.0       

Note: All percentages are based on total assets less current liabilities

                                    - ENDS-                                    

14 January 2014

Frostrow Capital LLP

Secretary