Acquisition

To: Company Announcements

Date: 21 July 2011

Company: Standard Life Investment Property Income Trust Limited

"Standard Life Investments Property Income Trust is pleased to announce it has completed the purchase of 1 Dorset St Southampton, a multi let office building built in 2007 and let to Grant Thornton, Santander and Michael Page for £6.1m reflecting a yield of 7.9%"

All enquiries:

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Renee McIver

Tel: 01481 745529

Fax: 01481 745324