Holding(s) in Company

TR-1: Notification of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached

Standard Life Investment Property Income Trust Plc

2. Reason for the notification (please tick the appropriate box or boxes)

An acquisition or disposal of voting rights

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An event changing the breakdown of voting rights 

Other (please specify): 

3. Full name of person(s) subject to the notification obligation

FIL Limited (FIL) 

4. Full name of shareholder(s) (if different from 3.)

See attached schedule

5. Date of the transaction (and date on which the threshold is crossed or reached if different) 

01 April 2009

6. Date on which issuer notified

02 April 2009

7. Threshold(s) that is/are crossed or reached:

5%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

If possible using the ISIN CODE

Situation previous to the Triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of Shares

Number of Voting Rights

% of Voting Rights

Direct

Direct

Indirect

Direct

Indirect

ISIN: GB0033875286 

5,396,719

5,396,719

5,096,719

5,096,719

4.90

B. Financial Instruments

Resulting situation after the triggering transaction

Type of Financial Instrument

Expiration Date

Exercise/Conversion Period/Date

Number of Voting Rights that may be acquired if the instrument is exercised/converted

% of Voting Rights

Total (A+B)

Number of Voting Rights

% of Voting Rights

5,096,719

4.90%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable

See attached schedule

Proxy Voting:

10. Name of the proxy holder:

FIL Limited (FIL) 

11. Number of voting rights proxy holder will cease to hold:

300,000 shares

12. Date on which proxy holder will cease to hold voting rights:

01 April 2009

13. Additional information:

None

14. Contact Name

Amanda Chana

15. Contact:

[email protected]