PABI Prem. Abs.

    Premier Absolute Growth & Income Trust PLC

NAV PER SHARE (BID) AS AT 31 October 2007

Premier Absolute Growth & Income Ordinary Income Shares       0.0p

Premier Absolute Growth & Income Preferred Income Shares      6.2p

PAGIT Securities Zero Dividend Preference Shares            182.5p


Consolidated Total Assets                                   �15.8m

The above figures are net of a provision of �200,000 for the costs of the
reconstruction and winding up proposals announced on 9th October 2007.
They do not reflect the retention to be made by the liquidators.

HMRC has recently announced that it will not continue to defend the JPMorgan
Claverhouse Investment Trust case and HMRC is expected to issue a public
statement to confirm their position shortly. There should therefore be an
exemption for investment trusts for VAT on their management expenses and it is
expected that investment trusts will be able to recover some or all of the VAT
previously charged on management fees. Premier Absolute Growth & Income Trust
PLC has paid approximately �315,000 of VAT on its management fees since January
2001. This potential recovery of VAT has not been recognised in the above NAV
calculation.



END

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