Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 28 February 2014

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

Pacific Assets Trust plc as at 28 February 2014

Top Ten Equity Holdings                        %        
                                                        
Tech Mahindra                                 5.5       
                                                        
Marico                                        5.2       
                                                        
Standard Foods                                3.9       
                                                        
Taiwan Semiconductor Manufacturing            3.8       
                                                        
Towngas China                                 3.8       
                                                        
Dabur India                                   3.5       
                                                        
Public Bank                                   3.3       
                                                        
Delta Electronics (Thailand)                  3.3       
                                                        
E.Sun Financial Holding                       3.1       
                                                        
Samsung Fire & Marine Insurance               3.0       
                                                        
Total                                        38.4       
                                                        
Geographical breakdown                         %        
                                                        
India                                        26.4       
                                                        
Taiwan                                       17.0       
                                                        
Singapore                                     9.8       
                                                        
South Korea                                   8.3       
                                                        
Philippines                                   7.2       
                                                        
Thailand                                      6.2       
                                                        
Hong Kong                                     5.6       
                                                        
Malaysia                                      5.0       
                                                        
China                                         4.5       
                                                        
Indonesia                                     1.8       
                                                        
Bangladesh                                    0.7       
                                                        
Sri Lanka                                     0.3       
                                                        
Liquidity                                     7.2       
                                                        
Total                                        100.0      
                                                        
Actual Gearing                                0.0       

Note: All percentages are based on total assets less current liabilities

                                    - ENDS-                                    

18 March 2014

Frostrow Capital LLP

Secretary