Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 28 February 2015

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 2015

Top Ten Equity Holdings                     %        
                                                     
Tech Mahindra                              6.0       
                                                     
Vitasoy International Holdings             4.7       
                                                     
Marico                                     4.5       
                                                     
Taiwan Semiconductor Manufacturing         4.3       
                                                     
Delta Electronics (Thailand)               3.5       
                                                     
Manila Water                               3.4       
                                                     
Standard Foods                             3.3       
                                                     
Kotak Mahindra Bank                        3.2       
                                                     
E.Sun Financial Holding                    3.1       
                                                     
Idea Cellular                              3.0       
                                                     
Total                                      39.0      
      
                                               
Geographical breakdown                      %        
                                                     
India                                      31.1      
                                                     
Taiwan                                     16.7      
                                                     
Philippines                                9.4       
                                                     
Singapore                                  6.2       
                                                     
Hong Kong                                  6.2       
                                                     
China                                      5.3       
                                                     
Thailand                                   4.9       
                                                     
Malaysia                                   3.1       
                                                     
Indonesia                                  2.9       
                                                     
South Korea                                2.7       
                                                     
Sri Lanka                                  1.5       
                                                     
Bangladesh                                 1.0       
                                                     
United States*                             0.6       
                                                     
Net Current Assets                         8.4       
                                                     
Total                                     100.0      
                                                     
Actual Gearing                             0.0       

*Represented by a company listed in the United States but whose economic
activities are predominantly within the Asia Pacific region.

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

                                    - ENDS-                                    

20 March 2015
Frostrow Capital LLP
Secretary