Dividend Declaration

NEWS RELEASE

                                                                   3 April 2013

                           PACIFIC ASSETS TRUST plc                            

                            Proposed Final Dividend                            

The Board has recommended a proposed unchanged final dividend of 2.6p per share
in respect of the year ended 31 January 2013. The proposed dividend will be
ratified by shareholders at the Annual General Meeting to be held on 25 June
2013. Subject to shareholder approval, the dividend will be paid on 28 June
2013 to shareholders on the register on 31 May 2013.

The associated ex-dividend date is 29 May 2013.

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For further information please contact:

Mark Pope, Company Secretary

Frostrow Capital LLP

Telephone [phone]