Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 31
October 2011 its ten largest investments were as follows :

% of total assets

GDF Suez             6.4

Enagas               4.8

Energias de Portugal 4.3

Fortum               4.1

EDF                  3.9

Veolia               3.2

Suez Environnement   3.1

National Grid        3.0

DUET Group           2.9

Tern Rete            2.8

At close of business on 31 October 2011 the total net assets of Premier Energy
and Water Trust PLC amounted to £55.7 million. The sector breakdown and
geographical allocation were as follows :

Sector Breakdown :

Electricity       50.0 %

Water             23.2 %

Gas               14.0 %

Infrastructure     8.9 %

Cash & Net Assets  3.9 %

Total            100.0 %

Geographical Allocation :

China / Hong Kong 12.8 %

USA               17.3 %

France            15.9 %

United Kingdom     7.8 %

Australia          6.6 %

Thailand           5.5 %

Finland            4.0 %

Portugal           4.1 %

Germany            2.5 %

Singapore          2.5 %

Spain              4.7 %

Canada             2.0 %

Czech Rep          2.4 %

Italy              4.6 %

Korea              1.2 %

Malaysia           1.0 %

Qatar              1.0 %

Austris            0.6 %

Cash & Net Assets  3.5 %

Total            100.0 %