Interim Management Statement

PREMIER ENERGY AND WATER TRUST PLC

Interim Management Statement for the Quarter ended 31 March 2013

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.

Financial Highlights

Share price and NAV returns

                                    31 March 2013   31 December 2012     % change
                                                                           
                                                                         In quarter
                                                                             
Zero Dividend Preference share NAV        186.24p        183.45p        +1.5%
*                                                                            
                                                                             
Mid price                                 190.75p        186.50p        +2.3%
                                                                             
Ordinary share NAV*                       150.37p        112.59p        +33.6%
                                                                             
Mid price                                 130.25p         99.00p        +31.6%
                                                                             

* Calculated in accordance with the Articles of Association

Total return performance

                                                          % change           
                                                                             
                                                          Quarter ended      
                                                                             
                                                          31 March 2013      
                                                                             
Total Assets *                                            +13.09%            
                                                                             
Bloomberg World Utilities Index (£)                       +11.38%            
                                                                             
FTSE All World Index (£)                                  +13.85%            
                                                                             
FTSE All Share Index                                      +10.44%            

* Total return performance, adjusted for any dividends distributed and
declared.

Material Events and Transactions

Annual Report for the year ended 31 December 2012

On 12 March 2013, the annual report for the year ended 31 December 2012 was
announced on a regulated news service. The annual report was mailed to
shareholders on 20 March 2013.

Dividends

On 17 February 2013, the Company declared a fourth and final interim dividend
of 4.2p per Ordinary share for the year ending 31 December 2012 which was paid
on 28 March 2013 to Ordinary shareholders on the register on 8 March 2013. The
Ordinary shares were marked ex-dividend on 6 March 2013 (total dividends paid in
respect of the year ended 31 December 2012 are therefore 9.30p per Ordinary share).

On 23 April 2013, the Company declared a first quarterly dividend for the year
ending 31 December 2013 of 1.7p per Ordinary share and will be paid on 28 June
2013 to members on the register at the close of business on 31 May 2013. The
Ordinary shares will be marked ex-dividend on 29 May 2013 (the first interim 
dividend for the year ended 31 December 2012 was 1.6p per Ordinary share).

Annual General Meeting

At the Annual General Meeting held on 23 April 2013, all the Ordinary and
Special Resolutions were passed.

The resolutions approved included resolutions to authorise the Directors to
allot new shares, allow the Directors to allot Ordinary shares for cash at a
discount to net asset value, allow the disapplication of pre-emption rights on
the allotment of new Ordinary shares and to allow the Company to make market
purchases of its own shares.

Ten Largest Holdings at 31 March 2013 (% of Gross Assets)

Company                             Country        Valuation %  
                                                   of total     
                                                                
China Everbright Intl               China          6.1%         
                                                                
China Suntien Green Energy          China          5.5%         
                                                                
Essar Energy Invest*                India          5.5%         
                                                                
OPG Power Ventures                  India          4.9%         
                                                                
Enersis                             Chile          4.7%         
                                                                
Ecofin Water & Power**              UK             4.0%         
                                                                
National Grid                       UK             3.9%         
                                                                
Qatar Electricity and Water Co.     Qatar          3.6%         
                                                                
GDF Suez                            France         3.4%         
                                                                
Centrica PLC                        UK             3.4%         

* Holding in convertible bonds and ordinary shares

** Holding in convertible bonds

The Board is not aware of any significant events or transactions which have
occurred since 31 March 2013 to the date of the publication of this statement
which would have a material impact on the financial position of the Company.

At 24 April 2013 the Zero Dividend Preference share NAV was 187.11p and the
Ordinary share NAV was 161.09p.

Further Information

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

29 April 2013