Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 30 September 2011

This data will be available on the Company's website, 
http://www.pacific-assets.co.uk from 13 October 2011.

Top Ten Equity Holdings                        %        
                                                        
Taiwan Semiconductor Manufacturing            5.5       
                                                        
Manila Water                                  4.9       
                                                        
Hong Kong & China Gas                         4.7       
                                                        
DBS Group                                     4.5       
                                                        
Singapore Telecommunications                  4.4       
                                                        
DGB Financial Group                           3.5       
                                                        
Samsung Fire & Marine Insurance               3.5       
                                                        
Kasikornbank                                  3.4       
                                                        
Singapore Post                                3.3       
                                                        
Towngas China                                 3.1       
                                                        
Total                                        40.8       
                                                        
Geographical breakdown                         %        
                                                        
Taiwan                                       16.8       
                                                        
Singapore                                    16.7       
                                                        
Hong Kong                                    16.0       
                                                        
India                                        12.9       
                                                        
South Korea                                  11.9       
                                                        
Philippines                                   8.1       
                                                        
Thailand                                      6.7       
                                                        
Liquidity                                     6.3       
                                                        
Malaysia                                      2.4       
                                                        
China                                         1.1       
                                                        
Indonesia                                     0.6       
                                                        
Sri Lanka                                     0.5       
                                                        
Total                                        100.0      
                                                        
Actual Gearing                                0.0       

Note: All percentages are based on Gross Assets.

                                    - ENDS-                                    

13 October 2011

Frostrow Capital LLP

Secretary