Portfolio Update

Premier Energy and Water Trust PLC announces that as at 28 April 2011 its ten
largest investments were as follows :

                              % of total assets

Snam Rete Gas                       4.20
Calpine                             2.99
Fortum                              2.97
GDF Suez                            2.63
Sound Global                        2.59
China Power New Energy              2.29
Severn Trent                        2.21
Enbridge                            2.18
Huaneng Power                       2.15
China Resources Power               2.14

At 28 April 2011 the total net assets of Premier Energy and Water Trust PLC
amounted to £65.8 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                        44.6 %
Water                              26.0 %
Gas                                12.9 %
Infrastructure                      7.6 %
Cash & Net Assets                   8.9 %
Total                             100.0 %

Geographical Allocation :

USA                                21.5 %
China / Hong Kong                  15.3 %
United Kingdom                      9.9 %
France                              8.7 %
Italy                               6.2 %
Australia                           5.4 %
Thailand                            5.3 %
Canada                              4.6 %
Finland                             3.0 %
Singapore                           2.6 %
Czech Rep                           2.1 %
Spain                               1.5 %
Germany                             1.2 %
Korea                               1.1 %
Malaysia                            1.0 %
Qatar                               0.9 %
Austria                             0.8 %
Cash & Net Assets                   8.9 %
Total                             100.0 %