Portfolio Update

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

                         % of total assets

E.ON                           4.68
Snam Rete Gas                  4.35
GDF Suez                       4.29
FPL Group                      3.75
Veolia                         3.52
UIL Holdings                   3.46
National Grid                  3.31
Guangdong Inv                  2.97
Northeast Utilities            2.82
Jiangsu Expressway             2.75

At 31 October 2009 the total net assets of Premier Energy and Water Trust PLC
amounted to £59.5 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                   60.6 %
Water                         19.6 %
Gas                           13.4 %
Infrastructure                 5.4 %
Cash & Net Assets              1.0 %
Total                        100.0 %

Geographical Allocation :

USA                           26.7 %
United Kingdom                12.8 %
France                        11.5 %
China / Hong Kong             10.2 %
Italy                          8.1 %
Germany                        4.7 %
Thailand                       4.5 %
India                          4.2 %
Singapore                      3.4 %
Greece                         2.7 %
Spain                          2.3 %
Canada                         1.9 %
Portugal                       1.8 %
Malaysia                       1.5 %
Japan                          1.5 %
Brazil                         1.2 %
Cash & Net Assets              1.0 %
Total                        100.0 %