Result of AGM

26 May 2011

ING UK Real Estate Income Trust Limited (IRET)

Result of AGM

Approval to change the Company's name to Picton Property Income Limited

ING UK Real Estate Income Trust Limited (the "Company"), announces that at its Annual General Meeting held earlier today, all Resolutions on the Form of Proxy were passed, including the Special and Extraordinary Resolutions. As a result of the passing of Special Resolution 1, on or around the 1st June 2011, the Company's name will be changed to Picton Property Income Limited ("Picton"), reflecting the planned internalised structure of the business.

Commenting, Nick Thompson, Chairman of the Company, said:

"The approval by shareholders today to rename the Company is a further milestone in the internalisation process, which is anticipated to complete by the end of this year. Once fully in-place, the new management team led by Michael Morris as Chief Executive of Picton Capital Limited, will be directly aligned with the interests of shareholders. The new structure will deliver significant benefits and will support the enhancement of the Company's dividend cover. We also expect that Picton will attract a wider base of investors, particularly from those who are attracted to an internalised management structure.

"We look forward to making further progress during this transition phase and delivering value for our shareholders under our new name."

For further information:

All Enquiries

David Sauvarin

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Tel: 01481 745529

Fax: 01481 745085

ING Real Estate Investment Management (UK) Limited

Helen Stott, 020 7767 5648 [email protected]

Financial Dynamics

Dido Laurimore, 020 7831 3113, [email protected] 

Laurence Jones, 020 7831 3113, [email protected]

Picton Capital Limited

Michael Morris, 020 7628 4800, [email protected]