Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 31
January 2012 its ten largest investments were as follows :

% of total assets

GDF Suez 5.9

Enagas 4.8

E.ON 3.1

DUET Group 3.1

National Grid 2.9

Huang Power Int 2.9

China Res.Power 2.8

Veolia Environment 2.7

UIL Holdings 2.6

Terna Rete Electrtrica 2.6

At close of business on 31 January 2012 the total net assets of Premier Energy
and Water Trust PLC amounted to £57 million. The sector breakdown and
geographical allocation were as follows :

Sector Breakdown :

Electricity 50.7 %

Water 22.5 %

Gas 17.8 %

Infrastructure 3.9 %

Cash & Net Assets 5.1 %

Total 100.0 %

Geographical Allocation :

USA 17.5 %

China/Hong Kong 15.6 %

France 11.3 %

United Kingdom 8.7 %

Australia 7.1 %

Thailand 6.3 %

Spain 4.9 %

Italy 4.5 %

Brazil 3.4 %

Finland 1.8 %

Czech Rep 2.4 %

Singapore 2.7 %

Malaysia 1.2 %

Germany 3.2 %

Portugal 1.3 %

Canada 1.3 %

Qatar 1.0 %

Austria 0.7 %

Cash & Net Assets 5.1 %

Total 100.0 %