CISE de-listing

17th February 2014

PICTON PROPERTY INCOME LIMITED ('Picton')

CISE DE-LISTING

Picton currently operates with a dual listing on both the London Stock Exchange and The Channel Islands Stock Exchange 'CISE'.

The Board of Picton, having consulted with its advisors, has resolved to seek the cancellation of its secondary listing on the CISE in order to achieve further operational and financial efficiencies.

Picton will retain its premium listing on the London Stock Exchange.

In accordance with the procedures of the CISE, the Board anticipates the cancellation of listing to complete 20 days following the issue of this announcement.

All Enquiries:

Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Tel: 01481 745001