Sale of Assets by SLIPIT

To: Company Announcements

Date: 12 June 2014

Company: Standard Life Investments Property Income Trust Limited

Subject: Sale of Assets by SLIPIT

Standard Life Investments Property Income Trust Limited is pleased to confirm it has sold a portfolio of three retail warehouses for a total of £11.89m. The Company has provided rental guarantees on the void unit, and a top up for rent free periods, and so the net receipt could be reduced to £11.22m.

The assets are a Halfords unit in Paisley, Poundstretcher in Wymondham, and Clough Road Retail Park in Hull. As a result of the sale the Company's void rate has fallen to under 1% and income at risk in 2015 from tenant lease breaks has been reduced.

All enquiries:

Jason Baggaley

Standard Life Investments Limited

Tel: 0131 245 2833