Portfolio Update

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

                           % of total assets

Snam Rete Gas                    2.80
Fortum                           2.79
China Power New Energy           2.78
Calpine                          2.72
GDF Suez                         2.65
Entergy                          2.55
EDF                              2.28
Sound Global                     2.22
Exelon                           2.19
Thai Tap Water                   2.14

At 31 January 2011 the total net assets of Premier Energy and Water Trust PLC
amounted to £65.5 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                     48.3 %
Water                           20.0 %
Gas                             13.6 %
Infrastructure                   8.7 %
Cash & Net Assets                9.4 %
Total                          100.0 %

Geographical Allocation :

USA                             27.9 %
China / Hong Kong               14.6 %
France                           8.4 %
United Kingdom                   7.6 %
Canada                           5.8 %
Thailand                         5.7 %
Italy                            4.5 %
Australia                        3.0 %
Finland                          2.8 %
Singapore                        2.2 %
Germany                          1.8 %
Portugal                         1.2 %
Korea                            1.2 %
Spain                            1.2 %
Malaysia                         1.1 %
India                            0.8 %
Qatar                            0.8 %
Cash & Net Assets                9.4 %
Total                          100.0 %