Portfolio Update

Premier Energy and Water Trust PLC announces that as at 31 December 2010 its
ten largest investments were as follows :

                              % of total assets

Fortum                              2.75
China Power New Energy              2.61
Calpine                             2.56
Entergy                             2.51
Sound Global                        2.42
GDF Suez                            2.42
Snam Rete Gas                       2.39
Thai Tap Water                      2.28
Exelon                              2.16
Severn Trent                        2.15

At 31 December 2010 the total net assets of Premier Energy and Water Trust PLC
amounted to £66.6 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                        50.2 %
Water                              20.4 %
Gas                                10.8 %
Infrastructure                      9.8 %
Waste Management                    0.3 %
Cash & Net Assets                   8.5 %
Total                             100.0 %

Geographical Allocation :

USA                                28.5 %
China / Hong Kong                  14.9 %
United Kingdom                      8.1 %
France                              8.0 %
Canada                              6.3 %
Thailand                            6.0 %
Italy                               3.9 %
Australia                           3.1 %
Finland                             2.8 %
Singapore                           2.4 %
Germany                             1.7 %
India                               1.6 %
Portugal                            1.2 %
Malaysia                            1.1 %
Spain                               1.1 %
Ireland                             0.8 %
Cash & Net Assets                   8.5 %
Total                             100.0 %