Publication of Supplementary Prospectus

To: RNS From: Standard Life Investments Property Income Trust Limited Date: 22 September 2014 Standard Life Investments Property Income Trust Limited Publication of Supplementary Prospectus Standard Life Investments Property Income Trust Limited (the "Company") hastoday published a supplementary prospectus approved by the UK ListingAuthority. The publication of the supplementary prospectus is a regulatoryrequirement under the Prospectus Rules following the publication of theCompany's interim financial report for the six months to 30 June 2014. The supplementary prospectus is supplemental to, and should be read inconjunction with, the prospectus published by the Company on1 July 2014 inrelation to the issue of up to 100 million new shares including an initialplacing and offer for subscription and a placing programme. Copies of the supplementary prospectus will shortly be available for inspectionat www.hemscott.com/nsm.do. Copies of the supplementary prospectus are also available in electronic form onthe Company's website at www.standardlifeinvestments.com/its and are availablefor collection during normal business hours on any day (Saturday, Sunday andpublic holidays excepted) from the offices of DicksonMinto W.S., BroadgateTower, 20 Primrose Street, London EC2A 2EW. For further information please contact: Gordon HumphriesInvestment DirectorStandard Life InvestmentsTel: 0131 245 2735