Stmnt re Terminal Asset Value

Premier Utilities Trust PLC
5 November 2003

                   Premier Utilities Trust Plc (the 'Company')

Further to the announcement made by LeggMason Investors International Utilities
Trust PLC on 3 November 2003, zero coupon preference ('zcp') shareholders
electing to receive securities in the Company received 38.8095 per cent. in the
form of Ordinary Shares of 1p each and 61.1905 per cent in the form of Zero
Dividend Preference Shares of 1p each. All entitlements were rounded down to the
nearest whole share after applying the 248p entitlement of each zcp share and
again after applying the percentages above. All fractions were sold for the
benefit of the Company.




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