Publication of Supplementary Prospectus

29 October 2014 PICTON PROPERTY INCOME LIMITED ("Picton" or the "Company") Publication of Supplementary Prospectus Picton Property Income Limited (the "Company") has published asupplementary prospectus approved by the UK Listing Authority. The publicationof the supplementary prospectus is a regulatory requirement under the ProspectusRulesfollowing the publication of the Company's Net Asset Value for thequarter ended 30 September 2014. The supplementary prospectus is supplemental to, and should be readin conjunction with, the Prospectus published by the Company on 1 May 2014 andthesupplementary prospectuses published by the Company on 14 July 2014 and 4August 2014, all inrelation to the Placing Programme. Copies of the supplementary prospectus will shortly be available forinspection at 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 Communications Telephone: +44 20 7920 3150Jeremy Carey, James Verstringhe Note to Editors Picton Property Income Limited ('Picton') is an income focused,propertyinvestment 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 £273.7 million at 30 September 2014, the Company's objectiveisto provide shareholders with an attractive level of income, together withthepotential for capital growth by investing in the principal commercialproperty sectors.