Portfolio Update

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

                              % of total assets

E.ON                                5.10
GDF Suez                            4.45
Snam Rete Gas                       4.29
FPL Group                           4.16
Veolia                              4.04
UIL Holdings                        3.49
National Grid                       3.15
Aqua America                        3.01
Public Power                        2.90
Northeast Utilities                 2.86

At 30 September 2009 the total net assets of Premier Energy and Water Trust PLC
amounted to £62.2 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                        59.7 %
Water                              19.0 %
Gas                                11.8 %
Infrastructure                      6.3 %
Cash & Net Assets                   3.2 %
Total                             100.0 %

Geographical Allocation :

USA                                24.1 %
United Kingdom                     17.8 %
France                             12.3 %
China / Hong Kong                   9.2 %
Italy                               8.2 %
Germany                             5.1 %
Thailand                            3.6 %
Singapore                           3.3 %
Greece                              2.9 %
Portugal                            1.8 %
Canada                              1.8 %
Japan                               1.6 %
India                               1.6 %
Malaysia                            1.5 %
Brazil                              1.1 %
Spain                               0.9 %
Cash & Net Assets                   3.2 %
Total                             100.0 %