Portfolio Update

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

                       % of total assets

E.ON                         5.56
Northeast Utilities          3.89
GDF Suez                     3.81
Entergy                      3.81
UIL Holdings                 3.64
Snam Rete Gas                3.11
Aqua America                 3.08
Public Power                 3.05
EDF                          3.00
Guangdong Inv                2.93

At 31 December 2009 the total net assets of Premier Energy and Water Trust PLC
amounted to £49.2 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                 56.4 %
Water                       20.6 %
Gas                         13.2 %
Infrastructure               5.6 %
Cash & Net Assets            4.2 %
Total                      100.0 %

Geographical Allocation :

USA                         30.4 %
China / Hong Kong           12.8 %
France                      11.6 %
United Kingdom              10.7 %
Italy                        6.9 %
Germany                      5.5 %
Thailand                     4.2 %
Singapore                    3.9 %
Canada                       3.8 %
Greece                       3.0 %
Spain                        1.9 %
Malaysia                     1.1 %
Cash & Net Assets            4.2 %
Total                      100.0 %