Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 30
September 2011 its ten largest investments were as follows :

                         % of total assets

GDF Suez                       6.7

E.ON                           4.3

Energias de Portugal           4.2

Fortum                         4.0

Veolia                         3.3

Suez Environnement             2.7

Terna Rete                     2.7

DUET Group                     2.6

UIL Holdings                   2.6

PPL Corp                       2.6

At close of business on 31 September 2011 the total net assets of Premier
Energy and Water Trust PLC amounted to £57.4 million. The sector breakdown and
geographical allocation were as follows :

Sector Breakdown :

Electricity                  48.9 %

Water                        22.6 %

Gas                          18.7 %

Infrastructure                7.9 %

Cash & Net Assets             1.9 %

Total                       100.0 %

Geographical Allocation :

USA                          17.3 %

China / Hong Kong            15.1 %

France                       14.7 %

United Kingdom               10.2 %

Australia                     5.9 %

Thailand                      5.8 %

Italy                         4.7 %

Germany                       4.3 %

Portugal                      4.2 %

Finland                       4.0 %

Spain                         2.5 %

Singapore                     2.2 %

Canada                        1.9 %

Czech Rep                     1.7 %

Korea                         1.0 %

Qatar                         1.0 %

Malaysia                      0.9 %

Austria                       0.7 %

Cash & Net Assets             1.9 %

Total                       100.0 %

4 October 2011