Portfolio Update

Premier Energy and Water Trust PLC announces that as at 31 March 2010 its ten
largest investments were as follows :

                         % of total assets

E.ON                           4.90
China Power New Energy         4.03
Entergy                        3.78
Epure Int'l                    3.73
UIL Holdings                   3.56
GDF Suez                       3.40
Snam Rete Gas                  3.18
Aqua America                   3.09
Calpine                        2.99
Public Power                   2.87

At 31 March 2010 the total net assets of Premier Energy and Water Trust PLC
amounted to £52.5 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                    54.4 %
Water                          21.4 %
Gas                            13.9 %
Infrastructure                  6.6 %
Cash & Net Assets               3.7 %
Total                         100.0 %

Geographical Allocation :

USA                            24.3 %
China / Hong Kong              17.3 %
United Kingdom                 10.3 %
France                         10.0 %
Italy                           7.4 %
Canada                          7.2 %
Germany                         5.7 %
Thailand                        4.3 %
Singapore                       4.2 %
Greece                          2.9 %
Spain                           1.6 %
India                           1.1 %
Cash & Net Assets               3.7 %
Total                         100.0 %