Holding(s) in Company

RNS Number : 6782F

Pacific Assets Trust PLC

13 October 2008

TR-1: notification of major interests in shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:	Pacific Assets Trust PLC
2. Reason for the notification (please tick the appropriate box or boxes)
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An event changing the breakdown of voting rights
Other (please specify):___________________________________________
3. Full name of person(s) subject to the notification obligation:	Lazard Asset Management LLC
4. Full name of shareholder(s) (if different from 3.):	Bank One Mellon Trust Northern Trust Co PFPC Trust Co State Street Bank - Custodian - ETC State Street Bank - Custody Master Trust
5. Date of the transaction (and date on which the threshold is crossed or reached if different):	10 October 2008
6. Date on which issuer notified:	13 October 2008
7. Threshold(s) that is/are crossed or reached:	13%
8. Notified details:

A: Voting rights attached to shares
Class/type of shares if possible using the ISIN CODE	Situation previous to the Triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights viii	Number of shares	Number of voting rights ix		% of voting rights
			Direct	Direct x	Indirect xi	Direct	Indirect
GB0006674385		15,316,700			15,466,700		13.069%

B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of financial instrument	Expiration date xiii	Exercise/ Conversion Period/ Date xiv	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable xv:

Lazard Asset Management controls all the voting rights for this issuer

Proxy Voting:
10. Name of the proxy holder:		N/a
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:
13. Additional information:
14. Contact name:
15. Contact telephone number:

Annex Notification Of Major Interests In Shares xvi

A: Identity of the person or legal entity subject to the notification obligation
Full name (including legal form for legal entities)	Lazard Asset Management LLC
Contact address (registered office for legal entities)	30 Rockefeller Plaza 57th Floor New York NY, 10112 - 6300
Phone number	0207 448 2666
Other useful information (at least legal representative for legal persons)	Reporting for UK issuers is undertaken on behalf of Lazard Asset Management companies by Lazard Asset Management Limited in London

B: Identity of the notifier, if applicable xvii
Full name	Lazard Asset Management Limited
Contact address	50 Stratton Street London W1J 8LL
Phone number	0207 448 2666
Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)