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 19 January 2011 are as follows:

Ordinary Shares - ex income   185.66p 

Ordinary Shares - cum income  186.13p

Zero Dividend Preference Shares - accrued capital entitlement 162.17p

The valuation of the Company's unlisted investments which make up 2.2% 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. On 19
January 2011 the Board decided to write down the value of one of the unlisted
investments by £350,000 which has been reflected in the Net Asset Value for the
close of business on 19 January 2011.