Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 31 January 2014

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

Pacific Assets Trust plc as at 31 January 2014

Top Ten Equity Holdings                     %        
                                                     
Tech Mahindra                              6.3       
                                                     
Marico                                     5.3       
                                                     
Standard Foods                             4.0       
                                                     
Taiwan Semiconductor Manufacturing         3.8       
                                                     
Towngas China                              3.5       
                                                     
Dabur India                                3.5       
                                                     
Public Bank                                3.3       
                                                     
Samsung Fire & Marine Insurance            3.3       
                                                     
Delta Electronics (Thailand)               3.2       
                                                     
E.Sun Financial Holding                    3.1       
                                                     
Total                                      39.3      
                                                     
Geographical breakdown                      %        
                                                     
India                                      26.8      
                                                     
Taiwan                                     18.0      
                                                     
Singapore                                  9.8       
                                                     
South Korea                                8.5       
                                                     
Philippines                                7.0       
                                                     
Thailand                                   6.2       
                                                     
Hong Kong                                  5.3       
                                                     
Malaysia                                   5.1       
                                                     
China                                      4.4       
                                                     
Indonesia                                  1.7       
                                                     
Sri Lanka                                  0.8       
                                                     
Bangladesh                                 0.6       
                                                     
Liquidity                                  5.8       
                                                     
Total                                     100.0      
                                                     
Actual Gearing                             0.0       

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

                                    - ENDS-                                    

21 February 2014

Frostrow Capital LLP
Secretary