Portfolio Update

Premier Energy and Water Trust PLC announces that as at 30 June 2010 its ten
largest investments were as follows :

                             % of total assets

National Grid                      4.71
Aqua America                       4.52
E.ON                               4.09
China Power New Energy             3.84
Entergy                            3.77
Calpine                            3.62
PG & E Corp                        2.92
GDF Suez                           2.87
Huaneng Power                      2.86
Snam Rete Gas                      2.85

At 30 June 2010 the total net assets of Premier Energy and Water Trust PLC
amounted to £47.0 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                        61.0 %
Water                              24.2 %
Gas                                 8.2 %
Infrastructure                      4.8 %
Cash & Net Assets                   1.8 %
Total                             100.0 %

Geographical Allocation :

USA                                32.5 %
China / Hong Kong                  17.2 %
United Kingdom                     13.9 %
France                              8.2 %
Italy                               4.9 %
Germany                             4.9 %
Thailand                            4.8 %
Greece                              2.7 %
India                               2.6 %
Singapore                           2.4 %
Spain                               1.7 %
Finland                             1.4 %
Canada                              1.0 %
Cash & Net Assets                   1.8 %
Total                             100.0 %