Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 31 March 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 March 2014

Top Ten Equity Holdings                        %        
                                                        
Tech Mahindra                                 5.4       
                                                        
Marico                                        5.3       
                                                        
Taiwan Semiconductor Manufacturing            4.1       
                                                        
Dabur India                                   3.7       
                                                        
Standard Foods                                3.6       
                                                        
Towngas China                                 3.6       
                                                        
Delta Electronics (Thailand)                  3.5       
                                                        
Public Bank                                   3.3       
                                                        
Kasikornbank                                  3.2       
                                                        
Samsung Fire & Marine Insurance               3.0       
                                                        
Total                                        38.7       
                                                        
Geographical breakdown                         %        
                                                        
India                                        27.0       
                                                        
Taiwan                                       16.9       
                                                        
Singapore                                     9.6       
                                                        
South Korea                                   8.0       
                                                        
Philippines                                   6.9       
                                                        
Thailand                                      6.7       
                                                        
Hong Kong                                     5.5       
                                                        
Malaysia                                      5.1       
                                                        
China                                         4.2       
                                                        
Indonesia                                     2.0       
                                                        
Bangladesh                                    0.8       
                                                        
Sri Lanka                                     0.3       
                                                        
Liquidity                                     7.0       
                                                        
Total                                        100.0      
                                                        
Actual Gearing                                0.0       

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

                                    - ENDS-                                    

22 April 2014

Frostrow Capital LLP
Secretary