PACIFIC ASSETS TRUST PLC - Holding(s) in Company

For filings with the FCA include the annex

For filings with issuer exclude the annex




TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer of existing shares    Pacific Assets
to which voting rights are attached:ii                                     Trust plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights                                          Yes

An acquisition or disposal of qualifying financial instruments which may result      No
in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to            No
qualifying financial instruments

An event changing the breakdown of voting rights                                     No

Other (please specify):                                                              No




3. Full name of person(s) subject to the notification        Lazard Asset Management LLC
obligation:iii

4. Full name of shareholder(s)  (if different from 3.):iv           MELLON TRUST
                                                            MORGAN STANLEY PRIME BROKERAGE
                                                                  NORTHERN TRUST CO
                                                            STATE STREET BANK - CUSTODY MASTER TST
                                                            STATE STREET BANK - MASTER TR-ETC
                                                            STATE STREET BANK - CUSTODIAN - ETC
                                                            BANK OF NEW YORK, INC - GLOBAL CUSTODY
                                                               JP MORGAN CHASE - SWIFT
                                                                     COMERCIA BANK

5. Date of the transaction and date on which the threshold        4 September 2014
is crossed or reached: v

6. Date on which issuer notified:                                 5 September 2014

7. Threshold(s) that is/are crossed or reached: vi, vii       Decrease From 19% to 18%


8. Notified details:
A: Voting rights attached to shares viii, ix



Class/type of      Situation previous             Resulting situation after
shares              to the triggering                   the triggering
                       transaction                       transaction

if possible using            Number                    Number            % of voting
the ISIN CODE      Number      of      Number            of                rights x
                     of      Voting      of            voting
                   Shares    Rights    shares          rights

                                       Direct Direct xi  Indirect xii  Direct Indirect

     Ordinary
                           22,255,971                     22,155,971           18.961%
GB0006674385




B: Qualifying Financial Instruments

Resulting situation after the triggering transaction




Type of financial  Expiration       Exercise/           Number of voting    % of voting
    instrument     date xiii  Conversion Period xiv    rights that may be      rights
                                                        acquired if the
                                                         instrument is
                                                     exercised/ converted.






C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments xv, xvi

Resulting situation after the triggering transaction




Type of financial  Exercise Expiration    Exercise/    Number of voting    % of voting
    instrument      price    date xvii   Conversion   rights instrument  rights xix, xx
                                        period xviii      refers to



                                                                         Nominal  Delta






Total (A+B+C)




        Number of voting rights                    Percentage of voting rights

                 22,155,971                                  18.961%





9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi

Lazard Asset Management LLC controls all the voting rights held of this issuer.






Proxy Voting:

10. Name of the proxy holder:                                                       n/a

11. Number of voting rights proxy holder will cease to hold:                        n/a

12. Date on which proxy holder will cease to hold voting rights:                    n/a




13. Additional information:                                      n/a

14. Contact name:                                   Legal & Compliance Department

15. Contact telephone number:                               020 7 448 2119