Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 31 July 2012

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

Pacific Assets Trust plc as at 31 July 2012                       
                                                                  
Top Ten Equity Holdings                              %            
                                                                  
Manila Water                                        6.0           
                                                                  
Taiwan Semiconductor Manufacturing                  5.9           
                                                                  
Marico                                              5.3           
                                                                  
AmorePacific                                        5.2           
                                                                  
DBS Group                                           4.9           
                                                                  
Kasikornbank                                        4.6           
                                                                  
Singapore Telecommunications                        4.1           
                                                                  
Towngas China                                       4.0           
                                                                  
Samsung Fire & Marine Insurance                     3.3           
                                                                  
Axiata Group                                        3.1           
                                                                  
Total                                               46.4          
                                                                  
Geographical breakdown                               %            
                                                                  
Singapore                                           16.6          
                                                                  
Taiwan                                              15.2          
                                                                  
India                                               14.4          
                                                                  
South Korea                                         13.1          
                                                                  
Hong Kong                                           11.4          
                                                                  
Philippines                                         10.3          
                                                                  
Thailand                                            6.1           
                                                                  
Malaysia                                            5.5           
                                                                  
Liquidity                                           4.5           
                                                                  
China                                               1.2           
                                                                  
Indonesia                                           0.7           
                                                                  
Japan                                               0.5           
                                                                  
Sri Lanka                                           0.3           
                                                                  
Bangladesh                                          0.2           
                                                                  
Total                                              100.0          
                                                                  
Actual Gearing                                      0.0           

Note: All percentages are based on Gross Assets.

                                    - ENDS-                                    

13 August 2012

Frostrow Capital LLP

Secretary