ECWO.L Regulatory News (ECWO)

ECOFIN WATER & POWER OPPORTUNITIES PLC

It is announced that at the close of business on 24 March 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

182.29

(1.90)

(3.53)

Ordinary Shares (dilutive)*

178.78

(1.37)

(2.49)

ZDP Shares

104.51

0.13

0.14

\* 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 168p (closing strike

price up to 31 May 2010) 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)

559,345

Cash at Bank

5,266

Total Assets

564,611

Borrowings:

Prime Brokerage

38,495

6% CULS 2016

79,998

ZDP Shares

62,706

181,199

Net Assets (Ordinary Shareholders Funds)

383,412

Gearing (net debt/net assets)

45.9%

NB: The assets of the company include approximately £42.7m in bonds, and put options representing

approximately £4.6m on a delta adjusted basis. Adjusted for these two components, the total equity

exposure of the Company is 133.55% of net assets.

Phoenix Administration Services Limited

Company Secretary