Portfolio Update

Premier Energy and Water Trust PLC announces that as at 29 May 2009 its ten
largest investments were as follows :

                                % of total assets

Scottish & Southern Energy            5.75
E.ON                                  5.63
FPL Group                             4.64
GDF Suez                              4.30
Snam Rete Gas                         4.18
EDF                                   3.92
Pennon                                3.73
Public Power                          3.72
Veolia                                3.35
China Power New Energy                3.19


At 29 May 2009 the total net assets of Premier Energy and Water Trust PLC
amounted to £56.7 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                           62.5 %
Water                                 21.4 %
Gas                                   10.1 %
Infrastructure                         5.3 %
Cash & Net Assets                      0.7 %

Total                                100.0 %


Geographical Allocation :

United Kingdom                        26.0 %
USA                                   19.2 %
France                                12.6 %
China / Hong Kong                      9.4 %
Italy                                  7.9 %
Germany                                5.6 %
Greece                                 3.7 %
Thailand                               3.2 %
Spain                                  2.8 %
Singapore                              1.8 %
India                                  1.8 %
Portugal                               1.8 %
Japan                                  1.6 %
Brazil                                 1.0 %
Malaysia                               0.9 %
Cash & Net Assets                      0.7 %

Total                                100.0 %