Disposal

To: Company Announcements

Date: 14 June 2010

Company: Standard Life Investments Property Income Trust Limited

Subject: Disposal

Standard Life Investments Property Income Trust Limited is pleased to announce that it has exchanged contracts for the sale of 2-4 Bucknall St. London for £8.6m. The sale is due to complete on 29th September 2010.

The sale price reflects a premium of 11% above the March 30 valuation.

All Enquiries:

Jason Baggaley

Fund Manager

Standard Life Investments

Tel 0131 2452 833

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Tel: 01481 745324

Fax: 01481 745085