Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 31 August 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 August 2014

Top Ten Equity Holdings                %                
                                                        
Tech Mahindra                          6.1              
                                                        
Marico                                 5.9              
                                                        
Taiwan Semiconductor Manufacturing     3.8              
                                                        
Standard Foods                         3.6              
                                                        
Delta Electronics (Thailand)           3.4              
                                                        
E.Sun Financial Holdings               3.3              
                                                        
Idea Cellular                          3.3              
                                                        
Dabur India                            3.2              
                                                        
SembCorp Industries                    2.8              
                                                        
Towngas China                          2.7              
                                                        
Total                                  38.1             
                        
                                
Geographical breakdown                 %                
                                                        
India                                  31.4             
                                                        
Taiwan                                 17.6             
                                                        
Philippines                            8.0              
                                                        
Singapore                              6.9              
                                                        
China                                  6.1              
                                                        
Thailand                               5.5              
                                                        
South Korea                            5.5              
                                                        
Malaysia                               3.7              
                                                        
Indonesia                              2.4              
                                                        
Hong Kong                              1.7              
                                                        
Bangladesh                             0.8              
                                                        
Sri Lanka                              0.3              
                                                        
Liquidity                              10.1             
                                                        
Total                                  100.0            
                                                        
Actual Gearing                         0.0              

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

                                    - ENDS-                                    

19 September 2014
Frostrow Capital LLP
Secretary