Director Declaration

Pacific Assets Trust plc

2 March 2018

Director Declaration

In accordance with LR 9.6.14(R), Pacific Assets Trust plc announces that Sian Hansen, a non-executive director of Pacific Assets Trust plc, has resigned as a director of JPMorgan Income & Capital Trust plc with effect from 28 February 2018 following the company being placed into members' voluntary liquidation and has been appointed as a non-executive director of JPMorgan Multi-Asset Trust plc which became listed on the Official List of the UK Listing Authority and traded on the Main Market of the London Stock Exchange with effect from today, 2 March 2018.

                                    - END -

Frostrow Capital LLP

Company Secretary

Tel: [phone]