Portfolio Update

Premier Energy and Water Trust PLC announces that at close of business on 31 
January 2015 its ten largest investments were as follows:                    
                                                                             
                                                            % of total assets          
                                                                             
OPG Power Ventures                                                        8.8
                                                                             
China Power Intl. Develop                                                 5.8
                                                                             
Renewable Energy Generation                                               5.6
                                                                             
Huaneng Power International                                               4.7
                                                                             
Fortune Oil                                                               3.4
                                                                             
Ecofin Water & Power Conv 6.00%                                           3.3
                                                                             
GDF Suez                                                                  3.2
                                                                             
China Everbright Intl                                                     3.1
                                                                             
Enersis                                                                     3
                                                                             
SSE                                                                         3
              
                                                               
At close of business on 31 January 2015 the total net assets of Premier Energy   
and Water Trust PLC amounted to £80.3million.The sector breakdown and geographical
allocation were as follows:                                                  
                                                         
Sector Breakdown:                                                            
                                                                             
Electricity                                                             53.1%
                                                                             
Multi Utilities                                                         20.9%
                                                                             
Water & Waste                                                            5.5%
                                                                             
Gas                                                                      6.7%
                                                                             
Cash/Net Current Assets                                                  1.3%
                                                                             
Renewable Energy                                                        12.5%
                                                                             
Total                                                                  100.0%
            
                                                                 
Geographical Allocation:                                                     
                                                                             
Europe (excluding UK)                                                    5.9%
                                                                             
China                                                                   24.6%
                                                                             
North America                                                           12.7%
                                                                             
Global                                                                   6.5%
                                                                             
Asia (excluding China)                                                  16.9%
                                                                             
United Kingdom                                                          15.0%
                                                                             
Latin America                                                            7.9%
                                                                             
Cash/Net Current Assets                                                  1.3%
                                                                             
Australasia                                                              1.2%
                                                                             
Eastern Europe                                                           5.0%
                                                                             
Middle East                                                              3.0%