Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 30 April 2015

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

Pacific Assets Trust plc as at 30 April 2015

Top Ten Equity Holdings                     %        
                                                     
Vitasoy International Holdings             5.7       
                                                     
Tech Mahindra                              5.0       
                                                     
Marico                                     4.8       
                                                     
Delta Electronics (Thailand)               4.2       
                                                     
Standard Foods                             3.4       
                                                     
E.Sun Financial Holding                    3.4       
                                                     
Idea Cellular                              3.3       
                                                     
Taiwan Semiconductor Manufacturing         3.2       
                                                     
Kotak Mahindra Bank                        3.1       
                                                     
Ayala                                      2.8       
                                                     
Total                                      38.9      
                                                  
   
Geographical breakdown                      %        
                                                     
India                                      29.4      
                                                     
Taiwan                                     16.0      
                                                     
Philippines                                8.3       
                                                     
Hong Kong                                  7.3       
                                                     
Thailand                                   5.5       
                                                     
China                                      5.1       
                                                     
Singapore                                  3.8       
                                                     
Malaysia                                   3.1       
                                                     
Indonesia                                  3.0       
                                                     
South Korea                                2.8       
                                                     
Sri Lanka                                  1.6       
                                                     
Bangladesh                                 1.1       
                                                     
United States*                             0.5       
                                                     
Net Current Assets                         12.5      
                                                     
Total                                     100.0      
                                                     
Actual Gearing                             0.0       

*Represented by a company listed in the United States but whose economic
activities are predominantly within the Asia Pacific region.

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

                                    - ENDS-                                    

20 May 2015
Frostrow Capital LLP
Secretary