Block Listing Application

Standard Life Investments Property Income Trust Limited

14 March 2014

Block listing application

Standard Life Investments Property Income Trust Limited (the "Company") has made an application to the UK Listing Authority for a block listing for general business purposes of 2,930,000 ordinary shares of 1 pence each (the "Shares") to be admitted to the Official List of the UKLA and to the London Stock Exchange for the Shares to be admitted to trading on its main market.

Shares will be issued under the block listing to satisfy continuing market demand for the Shares and the block listing is expected to become effective at 8:00 a.m. on 18 March 2014.

For further details please contact:

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Claire Cooke

Tel: 01481 745417

Fax: 01481 745051