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 30 September 2008 are as follows :

  Ordinary Shares - ex income   180.85p 

  Ordinary Shares - cum income  185.26p

  Zero Dividend Preference Shares - accrued capital entitlement 139.46p

The valuation of the Company's unlisted investments which make up 5.1% 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.