Portfolio Update

Premier Energy and Water Trust PLC announces that as at 31 March 2009 its ten
largest investments were as follows :

                              % of total assets

FPL Group                           4.95

Scottish & Southern Energy          4.55

ENEL                                4.50

EDF                                 3.49

E.ON                                3.47

Pennon                              3.41

First Energy                        3.02

Guangdong                           2.91

Veolia                              2.86

Northeast Utilities                 2.81


At 31 March 2009 the total net assets of Premier Energy and Water Trust PLC amounted 
to £53.5 million.The sector breakdown and geographical allocation were as follows :

Sector Breakdown :

Electricity                        50.6 %
Water                              15.8 %
Infrastructure                      6.1 %
Gas                                 5.7 %
Telecoms                            5.0 %
Cash & Net Assets                  16.8 %

Total                             100.0 %


Geographical Allocation :

United Kingdom                     19.3 %
USA                                19.1 %
China / Hong Kong                   8.6 %
France                              8.5 %
Italy                               7.3 %
Spain                               5.4 %
Thailand                            4.8 %
Germany                             3.5 %
Japan                               2.0 %
India                               1.9 %
Singapore                           1.8 %
Malaysia                            1.0 %
Cash & Net Assets                  16.8 %

Total                             100.0 %