Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 31
October 2014 its ten largest investments were as follows:

                             % of total assets

OPG Power Ventures                         9.8

Renewable Energy Generation                6.3

China Power Intl. Develop                  4.4

Huaneng Power International                4.0

SSE                                        3.5

Ecofin Water & Power Conv 6.00%            3.4

GDF Suez                                   3.3

Enersis                                    3.1

National Grid                              2.9

China Everbright International             2.9

At close of business on 31 October 2014 the total net assets of Premier Energy
and Water Trust PLC amounted to £77 million. The sector breakdown and
geographical allocation were as follows:

Sector Breakdown:

Electricity                             52.8 %

Multi Utilities                         21.9 %

Water & Waste                            5.5 %

Gas                                      6.2 %

Cash/Net Current Assets                  1.0 %

Renewable Energy                        12.6 %

Total                                  100.0 %

Geographical Allocation:

Europe (excluding UK)                    5.6 %

China                                   21.9 %

North America                           12.1 %

Global                                   8.0 %

Asia (excluding China)                  17.4 %

United Kingdom                          17.0 %

Latin America                            8.5 %

Cash/Net Current Assets                  1.0 %

Australasia                              1.3 %

Eastern Europe                           4.4 %

Middle East                              2.8 %