PACIFIC ASSETS TRUST PLC - Portfolio Update

PACIFIC ASSETS TRUST plc (the "Company")

All data as at 31 October 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 October 2014

Top Ten Equity Holdings                     %

Tech Mahindra                              6.5

Marico                                     5.0

Taiwan Semiconductor Manufacturing         4.0

Vitasoy International Holdings             3.5

Delta Electronics (Thailand)               3.4

Idea Cellular                              3.3

Standard Foods                             3.3

E.Sun Financial Holdings                   3.2

SembCorp Industries                        2.9

Kotak Mahindra Bank                        2.8

Total                                      37.9


Geographical breakdown                      %

India                                      30.2

Taiwan                                     16.3

Singapore                                  6.9

Philippines                                6.9

China                                      6.4

Thailand                                   4.9

Hong Kong                                  4.9

South Korea                                4.3

Malaysia                                   3.5

Indonesia                                  2.1

Bangladesh                                 0.9

Sri Lanka                                  0.5

Liquidity                                  12.2

Total                                     100.0

Actual Gearing                             0.0

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

                                    - ENDS-

27 November 2014
Frostrow Capital LLP
Secretary