Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 29 February 2012

This data will be available on the Company's website, http://
www.pacific-assets.co.uk from 15 March 2012.

Pacific Assets Trust plc as at 29 February 2012                   

Top Ten Equity Holdings                          %      
                                                        
Taiwan Semiconductor Manufacturing              6.4     
                                                        
Manila Water                                    5.2     
                                                        
Hongkong & China Gas                           5.1     
                                                        
DBS Group                                       5.0     
                                                        
Singapore Telecommunications                    4.4     
                                                        
Kasikornbank                                    4.2     
                                                        
Towngas China                                   4.0     
                                                        
Philippine Long Distance Telephone              3.7     
                                                        
Samsung Fire & Marine Insurance                 3.4     
                                                        
Marico                                          3.2     
                                                        
Total                                          44.6     
                                                        
Geographical breakdown                           %      
                                                        
Hong Kong                                      17.5     
                                                        
Singapore                                      17.3     
                                                        
Taiwan                                         15.2     
                                                        
Philippines                                    10.8     
                                                        
South Korea                                     9.6     
                                                        
India                                           9.2     
                                                        
Liquidity                                       7.9     
                                                        
Thailand                                        6.4     
                                                        
Malaysia                                        3.6     
                                                        
China                                           1.5     
                                                        
Indonesia                                       0.6     
                                                        
Sri Lanka                                       0.4     
                                                        
Total                                          100.0    
                                                        
Actual Gearing                                  0.0     
                                                        

Note: All percentages are based on Gross Assets.

                                    - ENDS-                                    

15 March 2012

Frostrow Capital LLP

Secretary


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