Portfolio Update

Premier Energy and Water Trust PLC announces that as at 31 May 2011 its ten
largest investments were as follows :

                        % of total assets

Snam Rete Gas                 4.07
Suez Environnement            3.42
Veolia                        3.41
Fortum                        2.96
Calpine                       2.95
Sound Global                  2.62
Guangdong Inv.                2.47
China Resources Power         2.44
GDF Suez                      2.40
Huaneng Power                 2.40

At 31 May 2011 the total net assets of Premier Energy and Water Trust PLC
amounted to £65.1 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                  44.7 %
Water                        31.7 %
Gas                          13.6 %
Infrastructure                7.7 %
Cash & Net Assets             2.3 %
Total                       100.0 %


Geographical Allocation :

USA                          22.9 %
China / Hong Kong            17.6 %
France                       11.3 %
United Kingdom               10.3 %
Italy                         6.0 %
Thailand                      5.5 %
Australia                     5.4 %
Canada                        4.8 %
Finland                       2.9 %
Singapore                     2.6 %
Czech Rep                     2.0 %
Spain                         1.4 %
Korea                         1.3 %
Germany                       1.0 %
Malaysia                      1.0 %
Qatar                         0.9 %
Austria                       0.8 %
Cash & Net Assets             2.3 %
Total                       100.0 %