Portfolio Update

Premier Energy and Water Trust PLC announces that as at 30 January 2009 its ten
largest investments were as follows :

                          % of total assets

ENEL                            5.02

FPL Group                       4.80

Scottish & Southern Energy      4.70

EDF                             4.17

United Utilities                3.94

E.ON                            3.83

First Energy                    3.73

Veolia                          2.95

Northeast Utilities             2.95

Guangdong                       2.63


At 30 January 2009 the total net assets of Premier Energy and Water Trust PLC
amounted to £55.8 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                    50.2 %

Water                          17.3 %

Infrastructure                  6.1 %

Gas                             5.5 %

Telecoms                        4.4 %

Cash & Net Assets              16.5 %

Total                         100.0 %


Geographical Allocation :

United Kingdom                 21.1 %

USA                            16.5 %

France                          9.4 %

Italy                           7.6 %

China / Hong Kong               6.1 %

Thailand                        5.4 %

Spain                           5.1 %

Germany                         3.8 %

Malaysia                        2.6 %

Japan                           2.3 %

India                           1.8 %

Singapore                       1.8 %

Cash & Net Assets              16.5 %

Total                         100.0 %