SLIPIT Purchase

To: Company AnnouncementsDate: 19 September 2014Company: Standard Life Investments Property Income Trust Limited Subject: SLIPIT Purchase Standard Life Investments Property Holdings is pleased to announce it hasexchanged on the purchase of a logistics and industrial investment in Rotherhamfor £14.6million, reflecting a net initial yield of 7%. The investmentcomprises three units totalling 360,000sqft and let to Symphony Group PLC on anew 20 year lease with a tenant break in year 15. The initial rent is £1.08million p.a. and the lease has rent reviews every five years with the rentindexed to RPI capped at 4% p.a. As a result of the purchase the Company has invested most of the proceeds fromthe recent capital raise, with only approximately £7million available forinvestment. Jason Baggaley, Fund Manager for SLIPIT commented "We are delighted to haveexchanged on this purchase, which is due to complete on the 24th September.Following the recent purchase of a portfolio of three logistics units for £28million the Company is close to being fully invested. We have foundattractive assets that provide good quality income for the Company, supportingour objective of offering an attractive dividend yield that is fully covered,and without experiencing prolonged cash drag. We are actively looking at anumber of other opportunities as well. All enquiries: Jason BaggaleyStandard Life Investments LimitedTel: 0131 245 2833