Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 29
February 2012 its ten largest investments were as follows:

                       % of total assets

GDF Suez                      5.4

ENAGAS                        4.6

E.ON                          3.2

RWE                           3.0

Suez                          3.0

Duet Group                    2.9

Huaneng Power International   2.9

Snam Rete Gas                 2.8

National Grid                 2.8

Veolia Environment            2.8

At close of business on 29 February 2012 the total net assets of Premier Energy
and Water Trust PLC amounted to £60 million. The sector breakdown and
geographical allocation were as follows:

Sector Breakdown :

Electricity                   49.8 %

Water                         23.8 %

Gas                           16.2 %

Infrastructure                4.8 %

Cash & Net Assets             5.4 %

Total                       100.0 %

Geographical Allocation :

USA                          16.7 %

China/Hong Kong              13.3 %

France                       11.1 %

United Kingdom                9.9 %

Australia                     6.6 %

Thailand                      6.1 %

Spain                         4.6 %

Italy                         5.4 %

Brazil                        3.4 %

Finland                       1.9 %

Czech Rep                     2.4 %

Singapore                     2.6 %

Malaysia                      1.1 %

Germany                       6.2 %

Portugal                      1.2 %

Qatar                         1.0 %

Indonesia                      1.0%

Cash & Net Assets             5.5 %

Total                       100.0 %