Pacific Assets Trust plc

    Allotment of Ordinary Shares

    On 3 January 2017 Pacific Assets Trust plc (the "Company") allotted from its
    block listing authority of 5 August 2015 100,000 new Ordinary shares of 12.5p
    each at a price of 240.75 pence per share; these shares rank pari passu with
    the existing Ordinary shares in issue. The issue price equates to a premium to
    the cum income net asset value per share at the time of the transaction of
    1.33%.

    Following this issue, the Company has the ability to issue a further 9,259,838
    ordinary shares under its block listing facility.

    As a result of this allotment, the total number of ordinary shares in issue now
    stands at 119,548,386 and the total number of voting rights in the Company is
    119,548,386. There are no shares held in treasury.

    The above figure of 119,548,386 may be used by shareholders as the denominator
    for the calculation by which they may determine if they are required to notify
    their interest in, or change to their interest in, the Company under the FCA's
    Disclosure and Transparency Rules.

    Enquiries:

    Mark Pope     

    Frostrow Capital LLP             

    Tel: 0203 008 4913