Portfolio Update

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

                        % of total assets

Entergy                       3.44
Sound Global                  3.16
Calpine                       3.15
Snam Rete Gas                 3.09
GDF Suez                      3.04
Severn Trent                  2.85
UIL Holdings                  2.68
Thai Tap Water                2.67
Electricity Generating PCL    2.63
China Power New Energy        2.62

At 30 November 2010 the total net assets of Premier Energy and Water Trust PLC
amounted to £49.2 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                  47.9 %
Water                        24.6 %
Gas                          13.2 %
Infrastructure                9.1 %
Waste Management              0.3 %
Cash & Net Assets             4.9 %
Total                       100.0 %

Geographical Allocation :

USA                          31.0 %
China / Hong Kong            12.3 %
France                        9.6 %
United Kingdom                9.5 %
Thailand                      7.3 %
Canada                        6.4 %
Italy                         5.0 %
Singapore                     3.1 %
Australia                     2.7 %
India                         2.1 %
Germany                       2.0 %
Finland                       1.6 %
Malaysia                      1.5 %
Ireland                       1.0 %
Cash & Net Assets             4.9 %
Total                       100.0 %