Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 31 May 2014

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

Pacific Assets Trust plc as at 31 May 2014

Top Ten Equity Holdings                        %        
                                                        
Marico                                        6.0       
                                                        
Tech Mahindra                                 5.6       
                                                        
Taiwan Semiconductor Manufacturing            4.0       
                                                        
Dabur India                                   3.7       
                                                        
Public Bank                                   3.6       
                                                        
Standard Foods                                3.4       
                                                        
AmorePacific                                  3.4       
                                                        
E. Sun Financial Holding                      3.3       
                                                        
Samsung Fire & Marine Insurance               3.3       
                                                        
Delta Electronics (Thailand)                  3.2       
                                                        
Total                                        39.5       
                                                        
Geographical breakdown                         %        
                                                        
India                                        28.6       
                                                        
Taiwan                                       17.0       
                                                        
South Korea                                   9.1       
                                                        
Singapore                                     8.5       
                                                        
Philippines                                   7.0       
                                                        
Thailand                                      6.2       
                                                        
Malaysia                                      5.5       
                                                        
Hong Kong                                     5.0       
                                                        
China                                         3.4       
                                                        
Indonesia                                     2.4       
                                                        
Bangladesh                                    0.8       
                                                        
Sri Lanka                                     0.3       
                                                        
Liquidity                                     6.2       
                                                        
Total                                        100.0      
                                                        
Actual Gearing                                0.0       

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

                                    - ENDS-                                    

20 June 2014

Frostrow Capital LLP

Secretary