Portfolio Update

Premier Energy and Water Trust PLC announces that as at 27 February 2009 its
ten largest investments were as follows :

                              % of total assets

Scottish & Southern Energy           4.80

ENEL                                 4.80

FPL Group                            4.52

United Utilities                     3.91

EDF                                  3.58

First Energy                         3.39

E.ON                                 3.29

Guangdong                            3.07

Veolia                               3.04

Northeast Utilities                  2.91


At 27 February 2009 the total net assets of Premier Energy and Water Trust PLC
amounted to £52.7 million. The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                        50.8 %
Water                              16.3 %
Infrastructure                      7.2 %
Gas                                 5.4 %
Telecoms                            4.7 %
Cash & Net Assets                  15.6 %
Total                             100.0 %

Geographical Allocation :

United Kingdom                     20.7 %
USA                                18.6 %
France                              8.7 %
China / Hong Kong                   8.7 %
Italy                               7.4 %
Spain                               5.2 %
Thailand                            5.0 %
Germany                             3.3 %
Japan                               2.2 %
India                               1.9 %
Singapore                           1.7 %
Malaysia                            1.0 %
Cash & Net Assets                  15.6 %
Total                             100.0 %