Interim Management Statement

PREMIER ENERGY AND WATER TRUST PLC

Interim Management Statement for the Quarter ended 30 September 2009

Investment Objective

The Company's investment objectives are to achieve a high income from its
portfolio and to realise long-term growth in the capital value of the
portfolio. The Company will seek to achieve these objectives by investing
principally in the equity and equity related securities of companies operating
primarily in the energy and water sectors, as well as other infrastructure
investments. In seeking to achieve its investment objectives, the Company may
invest up to 15% in other investment companies provided they themselves invest
in the same sectors, and up to 15% of its gross assets in unquoted securities.

Financial Highlights

                                     30 September        30 June     % change
                                             2009                            
                                                            2009             
                                                                             
Zero Dividend Preference share NAV        149.22p        146.70p        +1.7%
                                                                             
Mid price                                 153.25p        152.75p        +0.3%
                                                                             
Ordinary share NAV                        190.75p        157.37p       +21.2%
                                                                             
Mid price                                 156.50p        139.25p       +12.4%
                                                                             
Total Assets                              £63.17m        £58.63m        +7.7%
                                                                             
FTSE Global Utilities (£)                 4847.90        4187.74       +15.8%
                                                                             
FTSE All World (£)                         215.83         177.32       +21.7%
                                                                             
FTSE 100                                  3223.93        2644.74       +21.9%

Material Events and Transactions

Half Year Report

The half year report to 30 June 2009 was published on 10 August 2009.

Dividend

On 28 July 2009, the Company declared a second interim dividend of 1.5p per
Ordinary share for the year ending 31 December 2009 which was paid on 30
September 2009 to Ordinary shareholders on the register on 4 September 2009.

LargestHoldings(% of Gross Assets)

Company                                       Country    Valuation
                                                                  
                                                        % of total
                                                                  
E.ON                                          Germany         5.1%
                                                                  
GDF Suez                                       France         4.5%
                                                                  
Snam Rete Gas                                   Italy         4.3%
                                                                  
FPL Group                                         USA         4.2%
                                                                  
Veolia Environnement                           France         4.0%
                                                                  
UIL Holdings                                      USA         3.5%
                                                                  
National Grid                                      UK         3.1%
                                                                  
Aqua America                                      USA         3.0%
                                                                  
Public Power Corporation                       Greece         2.9%
                                                                  
Northeast Utilities                               USA         2.9%

At 14 October 2009 the Zero Dividend Preference share NAV was 149.61p and the
Ordinary share NAV was 189.61p.

The Board is not aware of any significant events or transactions which have
occurred since 30 September 2009 and the date of the publication of this
statement which would have a material impact on the financial position of the
Company.

Further Information

Daily prices, Company announcements, Report and Accounts and monthly fact
sheets are available via www.premierassetmanagement.co.uk.

20 October 2009