Picton Prop Regulatory News (PCTN)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Picton Property Income Limited

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

Investec Wealth & Investment Limited

4. Full name of shareholder(s)  (if different from 3.):iv

N/A

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

5th October 2011

6. Date on which issuer notified:

6th October 2011

7. Threshold(s) that is/are crossed orreached: vi, vii

7%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares

GB00B0LCW208

27,642,862

27,642,862

27,614,527

7.996%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

27,614,527

7.996%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Client holdings registered in the name of Nominee companies 100% owned by Investec Wealth & Investment Limited.

NB: On 31st May 2011 Rensburg Sheppards Investment Management Limited changed it's name to Investec Wealth & Investment Limited.

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

12. Date on which proxy holder will cease to holdvoting rights:

N/A

13. Additional information:

N/A

14. Contact name:

Phil Beardwell Chartered FCSI

Senior Compliance Manager

15. Contact telephone number:

020 7597 1356

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Investec Wealth & Investment Limited

Contact address

(registered office for legal entities)

2 Gresham Street

London

EC2V 7QP

Phone number & email

0113 236 4171

mike.rigby@investecwin.co.uk

Other useful information

(at least legal representative for legal persons)

Mike Rigby

(Head of Compliance)

B: Identity of the notifier, if applicable

Full name

Philip Martin Beardwell

Contact address

2 Gresham Street

London

EC2V 7QN

Phone number & email

020 7597 1356

phil.beardwell@investecwin.co.uk

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

Senior Compliance Manager

C: Additional information

For notes on how to complete form TR-1 please see the FSA website.