Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 31 July 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 July 2014

Top Ten Equity Holdings                     %        
                                                     
Marico                                     5.8       
                                                     
Tech Mahindra                              5.7       
                                                     
Taiwan Semiconductor Manufacturing         3.8       
                                                     
Dabur India                                3.8       
                                                     
Public Bank                                3.4       
                                                     
Standard Foods                             3.4       
                                                     
Delta Electronics (Thailand)               3.4       
                                                     
Idea Cellular                              3.3       
                                                     
Kasikornbank                               3.2       
                                                     
E.Sun Financial Holdings                   3.2       
                                                     
Total                                      39.0      
                                                     
Geographical breakdown                      %        
                                                     
India                                      31.7      
                                                     
Taiwan                                     17.1      
                                                     
Philippines                                7.3       
                                                     
Thailand                                   6.6       
                                                     
South Korea                                6.2       
                                                     
Singapore                                  6.0       
                                                     
Malaysia                                   5.2       
                                                     
Hong Kong                                  4.9       
                                                     
China                                      3.5       
                                                     
Indonesia                                  2.2       
                                                     
Bangladesh                                 0.7       
                                                     
Sri Lanka                                  0.3       
                                                     
Liquidity                                  8.3       
                                                     
Total                                     100.0      
                                                     
Actual Gearing                             0.0       

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

                                    - ENDS-                                    

21 August 2014

Frostrow Capital LLP

Secretary