Net Asset Value(s)

The Net Asset Values per share (at bid-market values) of Premier Energy and
Water Trust PLC at close of business on 23 July 2008 are as follows :

Ordinary Shares - ex income  213.61p 

Ordinary Shares - cum income 217.59p

Zero Dividend Preference Shares - accrued capital entitlement 137.69p

The valuation of the Company's unlisted investments which make up 5.3% of total
net assets, is considered by the Board at each quarter end. In the event that
there is a significant change in valuation between these quarter end points,
this will be reflected in the normal weekly net asset value calculations.