14 December 2015

               PEWT Securities PLC ("PEWT Securities" or the "Company")            

                       Results of Elections by ZDP Shareholders                    

    On 20 November 2015, PEWT Securities plc ("PEWT Securities"), a wholly owned
    subsidiary of Premier Energy and Water Trust plc, published a circular
    containing details of a scheme of reconstruction of PEWT Securities (the
    "Scheme") and proposals to, inter alia, offer the holders of Existing ZDP
    Shares in PEWT Securities the opportunity to elect to roll their investment
    into New ZDP Shares in PEWT Securities 2020 plc ("PEWT Securities 2020").

    The Board of PEWT Securities is pleased to announce the results of the
    Elections.

    Elections by ZDP Shareholders to participate in the Rollover Option exceeded
    the Maximum Issue Size, meaning that such Elections have been scaled back on a
    pro-rata basis. Each ZDP Shareholder who made a valid Election to receive New
    ZDP Shares will receive approximately 1,871 New ZDP Shares and £346.80 in cash
    for every 1,000 Existing ZDP Shares held on the Effective Date and for which
    they made a valid Election. Conditional on the Scheme becoming effective,
    24,073,337 New ZDP Shares will be issued by PEWT Securities 2020. As the
    Maximum Issue Size was reached through the Rollover Option, there will be no
    Placing of New ZDP Shares.

    Application will be made for the New ZDP Shares to be admitted to the Official
    List and to trading on the London Stock Exchange and dealings are expected to
    commence at 8.00 a.m. on 4 January 2016. It is anticipated that CREST accounts
    will be credited (where applicable) on the same day and the New ZDP Shares will
    trade using the ticker PEZ and under the ISIN GB00BYP98L62. New share
    certificates in respect of the New ZDP Shares will be issued as soon as
    practicable following admission.

    Expected timetable of principal events

    Announcement of the results of Rollover Offer                  14 December 2015
                                                                                   
    Date from which dealings in Existing ZDP Shares should         21 December 2015
    only be for cash settlement and immediate delivery of                          
    documents of title                                                             
                                                                                   
    Announcement of the results of the First General               21 December 2015
    Meeting of PEWT Securities                                                     
                                                                                   
    Reclassification of Existing ZDP Shares into                    8.00 a.m. on 30
    Reclassified Shares* - A Shares (with rights to receive           December 2015
    New ZDP Shares) and B Shares (with rights to receive                           
    cash)                                                                          
                                                                                   
    Dealings in Reclassified Shares suspended                       7.30 a.m. on 31
                                                                      December 2015
                                                                                   
    Announcement of the results of the Second General              31 December 2015
    Meeting of PEWT Securities                                                     
                                                                                   
    Publication of the results of the Scheme                       31 December 2015
                                                                                   
    If the Scheme becomes unconditional:                                           
                                                                                   
    Cancellation of the Existing ZDP Shares from the         8.00 a.m. on 4 January
    Official List                                                              2016
                                                                                   
    Admission and commencement of dealings in New ZDP        8.00 a.m. on 4 January
    Shares of PEWT Securities 2020 (ISIN: GB00BYP98L62)                        2016
                                                                                   
    CREST stock accounts expected to be credited in respect  As soon as practicable
    of New ZDP Shares                                          after 8.00 a.m. on 4
                                                                      January  2016
                                                                                   
    Despatch of share certificates in respect of New ZDP             8 January 2016
    Shares                                                                         
                                                                                   
    Consideration expected to be despatched to ZDP                   8 January 2016
    Shareholders who elect or are deemed to elect for the                          
    Cash Option                                                                    

    Capitalised terms used but not defined in this announcement have the meanings
    set out in the circular of PEWT Securities dated 20 November 2015.

    *Reclassified Shares are a technical requirement of the Scheme and will be
    created if the Resolution to be proposed at the First General Meeting is passed
    and becomes effective.

                                      -The End -                                   

    Enquiries:

    Premier Fund Managers Limited          + 44 (0) 1483 30 60 90                
    Nigel Sidebottom                                                             
    James Smith                                                                  
    Claire Long                                                                  
                                                                                 
    N+1 Singer                             + 44 (0) 20 7496 3000                 
    James Maxwell                                                                
    Liz Yong                                                                     
    Tom Smale