Portfolio Update

Premier Energy and Water Trust PLC announces that as at 28 February 2011 its
ten largest investments were as follows :

                               % of total assets

Snam Rete Gas                        2.91
Calpine                              2.88
Fortum                               2.80
GDF Suez                             2.70
China Power New Energy               2.58
Entergy                              2.51
EDF                                  2.30
Sound Global                         2.28
Severn Trent                         2.23
Thai Tap Water                       2.18

At 28 February 2011 the total net assets of Premier Energy and Water Trust PLC
amounted to £64.6 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                          50.1 %
Water                                23.2 %
Gas                                  14.0 %
Infrastructure                        8.8 %
Cash & Net Assets                     3.9 %
Total                               100.0 %

Geographical Allocation :

USA                                  28.8 %
China / Hong Kong                    14.0 %
United Kingdom                       10.5 %
France                                9.0 %
Canada                                5.8 %
Thailand                              5.6 %
Italy                                 4.7 %
Singapore                             4.0 %
Australia                             3.5 %
Finland                               2.8 %
Portugal                              1.3 %
Germany                               1.2 %
Korea                                 1.2 %
Spain                                 1.1 %
Malaysia                              1.1 %
India                                 0.8 %
Qatar                                 0.7 %
Cash & Net Assets                     3.9 %
Total                               100.0 %