Portfolio Update

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

                                  % of total assets

National Grid                           5.12
Aqua America                            4.83
China Power New Energy                  4.11
Entergy                                 3.94
Calpine                                 3.43
PG & E Corp                             3.15
Snam Rete Gas                           3.13
GDF Suez                                2.93
Thai Tap Water                          2.83
Huaneng Power                           2.76

At 31 August 2010 the total net assets of Premier Energy and Water Trust PLC
amounted to £48.2 million.The sector breakdown and geographical allocation were
as follows :

Sector Breakdown :

Electricity                            54.8%
Water                                  22.3%
Gas                                     8.7 %
Infrastructure                          6.6 %
Cash & Net Assets                       7.6 %
Total                                 100.0 %

Geographical Allocation :

USA                                    31.3 %
China / Hong Kong                      14.4 %
United Kingdom                         13.7 %
France                                  8.2 %
Thailand                                7.4 %
Italy                                   5.2 %
Germany                                 2.5 %
India                                   2.3 %
Singapore                               2.1 %
Spain                                   1.6 %
Finland                                 1.4 %
Canada                                  1.3 %
Malaysia                                1.0 %
Cash & Net Assets                       7.6 %
Total                                 100.0 %