Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 30 April 2014

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 2014

Top Ten Equity Holdings                     %        
                                                     
Tech Mahindra                              5.3       
                                                     
Marico                                     5.0       
                                                     
Taiwan Semiconductor Manufacturing         4.0       
                                                     
Dabur India                                3.6       
                                                     
Standard Foods                             3.5       
                                                     
Public Bank                                3.4       
                                                     
Delta Electronics (Thailand)               3.3       
                                                     
Kasikornbank                               3.3       
                                                     
Towngas China                              3.3       
                                                     
Samsung Fire & Marine Insurance            3.1       
                                                     
Total                                      37.8      
                                                     
Geographical breakdown                      %        
                                                     
India                                      26.0      
                                                     
Taiwan                                     16.9      
                                                     
Singapore                                  9.7       
                                                     
South Korea                                8.3       
                                                     
Philippines                                7.2       
                                                     
Thailand                                   6.6       
                                                     
Malaysia                                   5.2       
                                                     
Hong Kong                                  5.1       
                                                     
China                                      4.2       
                                                     
Indonesia                                  2.4       
                                                     
Bangladesh                                 0.9       
                                                     
Sri Lanka                                  0.3       
                                                     
Liquidity                                  7.2       
                                                     
Total                                     100.0      
                                                     
Actual Gearing                             0.0       

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

                                    - ENDS-                                    

19 May 2014

Frostrow Capital LLP

Secretary