NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required by DR 3.1.2R.

 
(1)    An issuer making a notification in respect of a transaction relating to 
       the shares or debentures of the issuer should complete boxes 1 to 16, 23
       and 24.                                                                 
                                                                               
(2)    An issuer making a notification in respect of a derivative relating to  
       the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16,
       23 and 24.                                                              
                                                                               
(3)    An issuer making a notification in respect of options granted to a      
       director/person discharging managerial responsibilities should complete 
       boxes 1 to 3 and 17 to 24.                                              
                                                                               
(4)    An issuer making a notification in respect of a financial instrument    
       relating to the shares of the issuer (other than a debenture) should    
       complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.              
 

PLEASE COMPLETE ALL RELEVANT BOXES IN BLOCK CAPITAL LETTERS.

1. Name of the issuer:

PACIFIC ASSETS TRUST plc                                                     

2. State whether the notification relates to:

i. a transaction notified in accordance with DR 3.1.2 R;

ii. a disclosure made in accordance with LR 9.8.6R(1); or

(ii) a disclosure made in accordance with section 793 of the Companies Act 2006.

PERSON DISCHARGING MANAGERIAL RESPONSIBILITY

3. Name of person discharging managerial responsibilities/director:

MR MARTIN LAU                                                                  

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person:

AS IN 3 ABOVE                                                                  

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest:

AS IN 3 ABOVE (BENEFICIAL INTEREST)                                            

6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares:

ORDINARY 12.5p SHARES                                                          

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them:

NOT STATED                                                                     

8. State the nature of the transaction:

ACQUISITION                                                                    

9. Number of shares, debentures or financial instruments relating to shares acquired:

300,000 ORDINARY SHARES                                                        

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage):

0.26%                                                                          

11. Number of shares, debentures or financial instruments relating to shares disposed:

NOT APPLICABLE                                                                 

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage):

NOT APPLICABLE                                                                 

13. Price per share or value of transaction:

142.2472p PER ORDINARY SHARE                                                   

14. Date and place of transaction:

7 JANUARY 2013, LONDON                                                         
15. Total holding following notification and total percentage holding following
notification (any treasury shares should not be taken into account when
calculating percentage):
540,000 ORDINARY SHARES                                                        
                                                                               
0.46%                                                                          

16. Date issuer informed of transaction:

9 JANUARY 2013                                                                 

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17. Date of grant:

-                                                                              

18. Period during which or date on which it can be exercised:

-                                                                              

19. Total amount paid (if any) for grant of the option:

-                                                                              

20. Description of shares or debentures involved (class and number):

-                                                                              

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise:

-                                                                              

22. Total number of shares or debentures over which options held following notification:

-                                                                              

23. Any additional information:

24. Name of contact and telephone number for queries:

MARK POPE, FOR AND ON BEHALF OF FROSTROW CAPITAL LLP, COMPANY SECRETARY

TEL: 020 3 008 4913                                                            
Name and signature of duly authorised officer of issuer responsible for making
notification:
         MARK POPE                                                             
Date of notification:
9 JANUARY 2013                                                                 
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