Publication of Supplementary Prospectus

11 March 2015 PICTON PROPERTY INCOME LIMITED ("Picton" or the "Company") Publication of Supplementary Prospectus Picton has published a supplementary prospectus approved by the UK ListingAuthority. The publication of the supplementary prospectus is a regulatoryrequirement under the Prospectus Rules following the novation of all of OrielSecurities Limited's rights and obligations under the Placing Agreement (asdetailed in the Company's 1 May 2014 Prospectus) to Stifel Nicolaus EuropeLimited. The supplementary prospectus is supplemental to, and should be readin conjunction with, the Prospectus published by the Company on 1 May 2014 andthe supplementary prospectuses published by the Company on 14 July 2014,4 August 2014, 29 October 2014, 21 November 2014 and 21 January 2015respectively, all in relation to the Placing Programme. Copies of the supplementary prospectus will shortly be available forinspectionat www.hemscott.com/nsm.do and on the Company's website atwww.pictonproperty.co.uk ENDS For further information: Northern Trust International Fund Telephone: +44 1481 745 529Administration Services (Guernsey) Limited David SauvarinThe Company SecretaryTrafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QL Picton Capital Limited Telephone: +44 20 7628 4800Michael Morris J.P. Morgan Cazenove Telephone: +44 20 7742 4000William Simmonds Oriel Securities Limited Telephone: +44 20 7710 7600Roger Clarke Tavistock Telephone: +44 20 7920 3150Jeremy Carey, James Verstringhe Note to Editors Picton Property Income Limited ('Picton') is an income focused,property investment company listed on the London Stock Exchange. It wasestablished in 2005 to invest both directly and indirectly in commercialproperty across the United Kingdom. With Net Assets of £315.7 million at 31December 2014, the Company's objectiveis to provide shareholders with an attractive level of income, together withthe potential for capital growth by investing in the principal commercialproperty sectors.