Portfolio Update

Premier Energy & Water Trust PLC announces that as at 30 June 2008 its ten largest investments were as follows :

                          % of total assets

E.ON                            6.13

Centrica                        4.51

Suez                            4.11

Veolia                          3.60

BT Group                        3.53

ENEL                            3.37

RWE                             3.34

Embarq                          3.14

United Utilities                3.09

Williams Co.                    3.04


At 30 June 2008 the total net assets of Premier Energy & Water Trust PLC amounted 
to £66.6 million.The sector breakdown and geographical breakdown were as follows :

Sector Breakdown :

Electricity               41.8 %
Water                     16.4 %
Telecoms                  12.0 %
Infrastructure            10.2 %
Gas                        7.6 %
Cash & Net Assets         12.0 %
Total                    100.0 %


Geographical Allocation :

United Kingdom            26.6 %
USA                       14.0 %
France                    10.0 %
Germany                    9.5 %
China / Hong Kong          4.9 %
Italy                      4.7 %
Thailand                   4.0 %
Spain                      3.8 %
Malaysia                   3.5 %
Singapore                  3.0 %
India                      1.5 %
Australia                  1.4 %
Japan                      1.1 %
Cash & Net Assets         12.0 %
Total                    100.0 %