Publication of Supplementary Prospectus

4 August 2014 PICTON PROPERTY INCOME LIMITED ("Picton" or the "Company") Publication of Supplementary Prospectus Picton Property Income Limited (the "Company") has published a supplementaryprospectus approved by the UK Listing Authority. The publication of thesupplementary prospectus is a regulatory requirement under the Prospectus Rulesfollowing the publication of the Company's Net Asset Value for the quarterended 30 June 2014. The supplementary prospectus is supplemental to, and should be read inconjunction with, the Prospectus published by the Company on 1 May 2014 and thesupplementary prospectus published by the Company on 14 July 2014, both inrelation to the Placing Programme. Copies of the supplementary prospectus will shortly be available for inspectionat www.hemscott.com/nsm.do and on the Company's website at www.pictonproperty.co.uk ENDS For further information: Northern Trust International Fund Administration Services (Guernsey) LimitedDavid SauvarinThe Company SecretaryTrafalgar Court Telephone: +44 1481 745 529Les BanquesSt Peter PortGuernseyGY1 3QL Picton Capital LimitedMichael Morris Telephone: +44 20 7628 4800 J.P. Morgan CazenoveWilliam Simmonds Telephone: +44 20 7742 4000 Oriel Securities LimitedRoger Clarke Telephone: +44 20 7710 7600 Tavistock CommunicationsJeremy Carey, James Verstringhe Telephone: +44 20 7920 3150 Note to Editors Picton Property Income Limited ('Picton') is an income focused, propertyinvestment company listed on the London Stock Exchange. It was established in2005 to invest both directly and indirectly in commercial property across theUnited Kingdom. With Net Assets of £258.9 million at 30 June 2014, the Company's objective isto provide shareholders with an attractive level of income, together with thepotential for capital growth by investing in the principal commercial propertysectors.