Top Ten Holdings Disclosure

PACIFIC ASSETS TRUST plc (the "Company")                    

All data as at 30 June 2012

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

Pacific Assets Trust plc as at 30 June 2012                       
                                                                  
Top Ten Equity Holdings                              %            
                                                                  
Taiwan Semiconductor Manufacturing                  6.2           
                                                                  
Manila Water                                        5.8           
                                                                  
AmorePacific                                        4.9           
                                                                  
Marico                                              4.7           
                                                                  
DBS Group                                           4.7           
                                                                  
Kasikornbank                                        4.3           
                                                                  
Towngas China                                       4.3           
                                                                  
Singapore Telecommunications                        3.8           
                                                                  
Samsung Fire & Marine Insurance                     3.5           
                                                                  
Philippine Long Distance Telephone                  3.5           
                                                                  
Total                                               45.7          
                                                                  
Geographical breakdown                               %            
                                                                  
Singapore                                           16.0          
                                                                  
Taiwan                                              15.3          
                                                                  
India                                               13.6          
                                                                  
South Korea                                         13.2          
                                                                  
Hong Kong                                           12.5          
                                                                  
Philippines                                         11.8          
                                                                  
Thailand                                            6.0           
                                                                  
Malaysia                                            5.3           
                                                                  
Liquidity                                           4.3           
                                                                  
China                                               1.0           
                                                                  
Indonesia                                           0.7           
                                                                  
Sri Lanka                                           0.3           
                                                                  
Total                                              100.0          
                                                                  
Actual Gearing                                      0.0           

Note: All percentages are based on Gross Assets.

                                    - ENDS-                                    

17 July 2012

Frostrow Capital LLP

Secretary