ECWO.L Regulatory News (ECWO)

ECOFIN WATER & POWER OPPORTUNITIES PLC

It is announced that at the close of business on 30 September 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

167.51

1.53

2.52

Ordinary Shares (dilutive)*

n/a

n/a

n/a

ZDP Shares

106.91

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 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)

542,512

Cash at Bank

864

Total Assets

543,376

Borrowings:

Prime Brokerage

48,000

6% CULS 2016

78,882

ZDP Shares

64,143

191,025

Net Assets (Ordinary Shareholders Funds)

352,351

Gearing (net debt/net assets) *

54.0%

* The total assets of the Company include an equity investment of £20.2 million in EIH Cyprus Group

which is a joint venture between the Company and other funds managed by the Investment Manager,

Ecofin Limited. 88.2% of the assets of EIH Cyprus are in cash which represents the proceeds of the

sale of one of the Company's investments, Solel Limited. If the above cash at bank figure was adjusted

for this, the Company's gearing would decline from 54.0% to 48.9%.

Net debt is bank debt, the Convertible Unsecured Loan Stock and the Zero Dividend Preference Shares,

less cash at bank.

NB: The assets of the company include approximately £51.4m in bonds, and put options representing

approximately £3.9m on a delta adjusted basis. Adjusted for these two components, the total equity

exposure of the Company is 138.27% of net assets.

Phoenix Administration Services Limited

Company Secretary