Notice of AGM

24 July 2012

PICTON PROPERTY INCOME LIMITED

("Picton" or the "Company")

Notice of Annual General Meeting

Posting of Annual Report & Consolidated Financial Statements

for the 15 month period ended 31 March 2012

Notice is hereby given that the Annual General Meeting of the Shareholders of Picton will be held at Trafalgar Court, Les Banques, St Peter Port, Guernsey, Channel Islands on Friday, 24 August 2012 at 10.30am.

Copies of the Annual Report & Consolidated Financial Statements and Notice of Annual General Meeting will be posted to shareholders today and have been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.morningstar.co.uk/uk/nsm.

ENDS

All Enquiries:

Company Secretary

David Sauvarin

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Tel: 01481 745529

Fax: 01481 745085