Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 30
April 2012 its ten largest investments were as follows:

% of total assets

GDF Suez 6.6

ENAGAS 4.0

Veolia Environement 3.4

E.ON 3.2

National Grid 3.0

Duet Group 3.0

EDP - Energias de Portugal 3.0

Suez 2.9

RWE 2.9

EDF 2.9

At close of business on 30 April 2012 the total net assets of Premier Energy
and Water Trust PLC amounted to £59 million. The sector breakdown and
geographical allocation were as follows:

Sector Breakdown :

Electricity 51.8 %

Water 22.4 %

Gas 18.2 %

Infrastructure 5.1 %

Cash & Net Assets 2.5 %

Total 100.0 %

Geographical Allocation :

USA 17.6 %

China/Hong Kong 11.6 %

France 15.8 %

United Kingdom 11.4 %

Australia 6.8 %

Thailand 7.0 %

Spain 4.0 %

Italy 5.3 %

Brazil 3.3 %

Germany 6.1 %

Singapore 1.2 %

Czech Republic 2.2 %

Portugal 3.0 %

Indonesia 1.2 %

Malaysia 1.0 %

Cash & Net Assets 2.5 %

Total 100.0 %