PACIFIC SHIPPING TRUST: NOTICE OF A CHANGE IN THE PERCENTAGE LEVEL OF A SUBSTANTIAL SHAREHOLDER'S INTEREST

Notice of Interest/Change in Interest
* Asterisks denote mandatory information
Name of Announcer *	PACIFIC SHIPPING TRUST
Company Registration No.	200602579M
Announcement submitted on behalf of	PACIFIC SHIPPING TRUST
Announcement is submitted with respect to *	PACIFIC SHIPPING TRUST
Announcement is submitted by *	IVY LIM FAYE YIK
Designation *	CHIEF FINANCIAL OFFICER
Date & Time of Broacast	13-Nov-2007 17:44:09
Announcement No.	00116
Price Sensitivity	Yes

>> Announcement Details

The details of the announcement start here ...

>> Part I
1. Date of notice to issuer *	13/11/2007
2. Name of Substantial Shareholder *	Pacific International Lines (Private) Limited
3. Please tick one or more appropriate box(es): *
- Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]

>> Part II
1. Date of change of [Select Option]
2. Name of Registered Holder
3. Circumstance(s) giving rise to the interest or change in interest
# Please specify details
4. Information relating to shares held in the name of the Registered Holder
No. of N.A. held before the change
As a percentage of issued share capital
No. of N.A. which are subject of this notice
As a percentage of issued share capital
Amount of consideration (excluding brokerage and stamp duties) per share paid or received
No. of N.A. held after the change
As a percentage of issued share capital

>> Part III
1. Date of change of Interest	12/11/2007
2. The change in the percentage level	From 34.5033 % to 34.5089 %
3. Circumstance(s) giving rise to the interest or change in interest	Open Market Purchase
# Please specify details
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions	The change in the percentage level is the result of a series of transactions.

>> Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest:
	Direct	Deemed
No. of shares held before the change	116,056,000	220,000
As a percentage of issued share capital	34.4380 %	0.0653 %
No. of shares held after the change	116,075,000	220,000
As a percentage of issued share capital	34.4436 %	0.0653 %

Footnotes

DBS Bank is the financial adviser, underwriter and bookrunner for the initial public offering of Pacific Shipping Trust.