Portfolio Update

Premier Energy & Water Trust PLC (formerly Premier Utilities Trust PLC)
announces that as at 31 August 2008 its ten largest investments were as follows :

                            % of total assets

E.ON                              5.84

ENEL                              5.48

Scottish & Southern Energy        4.78

Centrica                          4.77

Veolia                            4.67

EDF                               4.43

Gaz de France                     3.65

RWE                               3.12

BT Group                          3.04

Pennon Group                      2.76

At 31 August 2008 the total net assets of Premier Energy & Water Trust PLC
amounted to £66.5 million.The sector breakdown and geographical breakdown were
as follows :

Sector Breakdown :

Electricity                       48.6 %
Water                             16.3 %
Telecoms                          10.6 %
Gas                               10.0 %
Infrastructure                     9.5 %
Cash & Net Assets                  5.0 %
Total                            100.0 %

Geographical Allocation :

United Kingdom                    32.3 %
France                            13.2 %
Germany                            9.0 %
USA                                7.7 %
Italy                              6.9 %
China / Hong Kong                  5.5 %
Spain                              4.7 %
Thailand                           4.4 %
Singapore                          3.4 %
Malaysia                           3.4 %
Australia                          1.7 %
India                              1.5 %
Japan                              1.3 %
Cash & Net Assets                  5.0 %
Total                            100.0 %