Results of the Annual General Meeting

PACIFIC ASSETS TRUST plc                            

                                (the "Company")                                

                     Results of the Annual General Meeting                     

At the Annual General Meeting of Pacific Assets Trust plc held on Tuesday, 19
June 2012, all resolutions were duly passed. Details of the proxy votes
received can be found on the Company's website www.pacific-assets.co.uk

A copy of the full text of the special resolutions passed at the Annual General
Meeting has been lodged with the National Storage Mechanism and will shortly be
available for viewing at www.hemscott.com/nsm.do

The special resolutions passed were as follows:

 1. To authorise the Directors to disapply pre-emption rights on the allotment
    of equity securities up to nominal amount of £1,460,605
   
 2. To authorise the Company to buy back shares up to a maximum of 17,515,573
   
 3. To authorise the Directors to convene any general meeting of the Company
    (other than the Annual General Meeting) by notice of at least 14 clear days
    notice
   
The final dividend for the year was approved as 2.60 pence per ordinary share
and will be paid on 29 June 2012 to shareholders on the register on 1 June
2012.

- ENDS-

19 June 2012

For further information please contact

Mark Pope

Frostrow Capital LLP

Company Secretary

Telephone [phone]