ECWO.L Regulatory News (ECWO)

ECOFIN WATER & POWER OPPORTUNITIES PLC

It is announced that at the close of business on 7 July 2010, the un-audited Net Asset Values

per Ordinary Share and ZDP Shares of the above investment trust company were:-

Share Class

NAV (p)

Increase / (Decrease)

Absolute movement

(inc. undistributed revenue)

 %

 (p)

Ordinary Shares

158.87

0.52

0.82

Ordinary Shares (dilutive)*

158.87

0.52

0.82

ZDP Shares

106.56

0.12

0.13

\* The Company's Subscription Shares and 6% Convertible Unsecured Loan Stock 2016 in issue may, but

not necessarily will, dilute the Ordinary Shares Net Asset Value.

Where no dilution of Net Asset Value takes place the value box on this line will indicate "not applicable".

The diluted NAV assumes that the subscription shares rights have been exercised at 172p, being the exercise price for the period 1 June 2010 to 31 May 2011 (both dates inclusive) and that the 6% Convertible Unsecured Loan Stock has been converted at the conversion price of 172.6445p.

Fund Values (rounded)

£ '000

£ '000

Total Assets (less cash at bank)

513,385

Cash at Bank

7,881

Total Assets

521,266

Borrowings:

Prime Brokerage

43,153

6% CULS 2016

79,998

ZDP Shares

63,939

187,089

Net Assets (Ordinary Shareholders Funds)

334,177

Gearing (net debt/net assets)

53.6%

NB: The assets of the company include approximately £55.8m in bonds, and put options representing

approximately £4.4m on a delta adjusted basis. Adjusted for these two components, the total equity

exposure of the Company is 135.61% of net assets.

Phoenix Administration Services Limited

Company Secretary