Portfolio Update

Premier Energy and Water Trust PLC announces that as at 30 April 2010 its ten
largest investments were as follows :

                         % of total assets

E.ON                          4.95
China Power New Energy        4.46
Aqua America                  4.18
Entergy                       3.81
UIL Holdings                  3.79
National Grid                 3.66
Calpine                       3.46
Sound Global                  3.35
GDF Suez                      3.16
Snam Rete Gas                 3.01


At 30 April 2010 the total net assets of Premier Energy and Water Trust PLC
amounted to £51.5 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                  59.3 %
Water                        23.1 %
Gas                           8.4 %
Infrastructure                6.8 %
Cash & Net Assets             2.4 %

Total                       100.0 %

Geographical Allocation :

USA                          27.9 %
China / Hong Kong            18.9 %
United Kingdom               12.0 %
France                        9.5 %
Italy                         7.1 %
Germany                       5.7 %
Thailand                      4.2 %
Singapore                     3.3 %
Greece                        2.7 %
India                         2.4 %
Spain                         1.5 %
Finland                       1.5 %
Canada                        0.9 %
Cash & Net Assets             2.4 %

Total                       100.0 %