Portfolio Update

Premier Energy and Water Trust PLC announces that as at 30 November 2009 its
ten largest investments were as follows :

                       % of total assets

E.ON                         4.68
Snam Rete Gas                4.35
GDF Suez                     4.12
FPL Group                    3.85
UIL Holdings                 3.51
Veolia                       3.51
National Grid                3.47
China Power New Energy Dev   3.12
Guangdong Inv                3.02
Northeast Utilities          2.85

At 30 November 2009 the total net assets of Premier Energy and Water Trust PLC
amounted to £61.8 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                56.9 %
Water                      19.1 %
Gas                        12.3 %
Infrastructure              4.8 %
Cash & Net Assets           6.9 %
Total                     100.0 %

Geographical Allocation :

USA                        27.8 %
China / Hong Kong          11.9 %
United Kingdom             11.8 %
France                     11.8 %
Italy                       8.0 %
Germany                     4.7 %
Thailand                    4.6 %
Singapore                   3.4 %
Greece                      2.6 %
Spain                       2.0 %
Canada                      1.9 %
Portugal                    1.8 %
Malaysia                    0.8 %
Cash & Net Assets           6.9 %
Total                     100.0 %