Portfolio Update

Premier Energy and Water Trust PLC announces that as at 31 January 2010 its ten
largest investments were as follows :

                          % of total assets

Northeast Utilities             3.95
Epure Int'l                     3.73
Entergy                         3.67
UIL Holdings                    3.65
GDF Suez                        3.47
E.ON                            3.18
Public Power                    3.14
Snam Rete Gas                   3.05
Aqua America                    3.02
EDF                             2.82

At 31 January 2010 the total net assets of Premier Energy and Water Trust PLC
amounted to £47.9 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                    56.7 %
Water                          20.5 %
Gas                            12.9 %
Infrastructure                  6.4 %
Cash & Net Assets               3.5 %
Total                         100.0 %

Geographical Allocation :

USA                            30.0 %
China / Hong Kong              14.3 %
United Kingdom                 11.3 %
France                         11.2 %
Italy                           6.7 %
Canada                          4.5 %
Thailand                        4.3 %
Singapore                       4.2 %
Germany                         3.2 %
Greece                          3.1 %
Spain                           1.8 %
India                           1.2 %
Malaysia                        0.7 %
Cash & Net Assets               3.5 %
Total                         100.0 %