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 31 December 2009 are as follows:

Ordinary Shares - ex income   186.48p 

Ordinary Shares - cum income  193.03p

Zero Dividend Preference Shares - accrued capital entitlement 151.73p

The above Ordinary ex income and cum income net asset values are based on
13,103,065 Ordinary shares in issue.

The valuation of the Company's unlisted investments which make up 1.9% 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.