Portfolio Update

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

                            % of total assets

GDF Suez                          6.5
Fortum                            4.2
Energias de Portugal              4.1
E.ON                              4.0
Guangdong Inv.                    3.2
Suez Environnement                3.0
DUET Group                        2.7
Sound Global                      2.6
Enagas                            2.6
UIL Holdings                      2.5

At close of business on 31 August 2011 the total net assets of Premier Energy
and Water Trust PLC amounted to £59.5 million.The sector breakdown and
geographical allocation were as follows :

Sector Breakdown :

Electricity                      51.2 %
Water                            22.2 %
Gas                              18.5 %
Infrastructure                    5.3 %
Cash & Net Assets                 2.8 %
Total                           100.0 %

Geographical Allocation :

China / Hong Kong                16.8 %
USA                              16.6 %
France                           13.3 %
United Kingdom                    9.2 %
Australia                         8.4 %
Thailand                          5.8 %
Finland                           4.2 %
Portugal                          4.1 %
Germany                           4.0 %
Singapore                         2.6 %
Spain                             2.6 %
Canada                            2.1 %
Czech Rep                         1.9 %
Italy                             1.8 %
Korea                             1.1 %
Malaysia                          1.0 %
Qatar                             0.9 %
Austria                           0.8 %
Cash & Net Assets                 2.8 %
Total                           100.0 %