SLI.L Regulatory News (SLI)

For filings with the FCA include the annex For filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES 1. Identity of the issuer or the underlying issuer Standard Lifeof existing shares to which voting rights are Investmentsattached:ii Property Income Trust Ltd2 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 resultin the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect toqualifying financial instruments An event changing the breakdown of voting rights X Other (please specify): 3. Full name of person(s) subject to the Brewin Dolphin Limitednotification obligation:iii 4. Full name of shareholder(s) (if different from 3.):iv 5. Date of the transaction and date onwhich the threshold is crossed or 19th November 2014reached:v 6. Date on which issuer notified: 20th November 2014 7. Threshold(s) that is/are crossed or 15%reached: vi, vii 8. Notified details: A: Voting rights attached to sharesviii, ix Class/type Situation previous Resulting situation after the triggering transactionof to the triggeringshares transaction if possible Number Number Number Number of voting % of voting rightsxusing of of of shares rightsthe ISIN Shares VotingCODE Rights Direct Directxi Indirectxii Direct Indirect 33,604,527 33,604,527 N/A N/A 33,613,387 N/A 13.7637%ORD GBP0.01GB0033875286 B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of Expiration Exercise/ Number of voting % of votingfinancial datexiii Conversion Periodxiv rights that may be rightsinstrument acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying FinancialInstrumentsxv, xvi Resulting situation after the triggering transaction Type of Exercise Expiration Exercise/ Number of voting rights % of votingfinancial price datexvii Conversion instrument refers to rightsxix, xxinstrument periodxviii Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 33,613,387 13.7637% 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable:xxi Indirect - Brewin Nominees (Channel Islands) Limited - 200,360 0.0821 %Indirect - Brewin Nominees Limited - Individual Designations 64,000 0.0262 %Indirect - Brewin Nominees Limited A/c NOM 9,186,757 3.7617 %Indirect - Brewin Nominees Limited A/c ISA 10,310,115 4.2217 %Indirect - Brewin Nominees Limited A/c GROSS 6,110,890 2.5022 %Indirect - Brewin Nominees Limited A/c CHARITY 7,741,265 3.1698 % GRAND TOTAL 33,613,387 13.7637 % Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will ceaseto hold: 12. Date on which proxy holder will cease to holdvoting rights: Figures based on shares in issue of 244,216,165.13. Additional information: The indirect voting rights under (9) relate to shares held in client portfolios, managed by those firms, under discretionary investment management agreements. 14. Contact name: Graham Brabbs 15. Contact telephone number: 0191 230 7190