Portfolio Update

Premier Energy and Water Trust PLC announces that as at 31 March 2011 its ten
largest investments were as follows :

                            % of total assets

Snam Rete Gas                     3.93
Fortum                            3.06
Calpine                           3.00
GDF Suez                          2.70
Sound Global                      2.57
China Power New Energy            2.53
Huaneng Power                     2.43
China Resources Power             2.37
Entergy                           2.35
Williams Co's                     2.21

At 31 March 2011 the total net assets of Premier Energy and Water Trust PLC
amounted to £65.9 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                      48.6 %
Water                            26.0 %
Gas                              15.1 %
Infrastructure                    8.2 %
Cash & Net Assets                 2.1 %
Total                           100.0 %

Geographical Allocation :

USA                              29.3 %
China / Hong Kong                16.3 %
United Kingdom                    9.4 %
France                            8.6 %
Italy                             5.7 %
Thailand                          5.5 %
Canada                            5.0 %
Australia                         3.4 %
Finland                           3.1 %
Spain                             2.8 %
Singapore                         2.6 %
Czech Rep                         1.9 %
Germany                           1.2 %
Korea                             1.2 %
Malaysia                          1.1 %
Qatar                             0.8 %
Cash & Net Assets                 2.1 %
Total                           100.0 %