Dividend Declaration

To: Company AnnouncementsDate: 29 April 2015Company: Standard Life Investments Property Income Trust Limited Subject: Dividend Declaration Interim Dividend The Directors of Standard Life Investments Property Income Trust Limited (the"Directors") have declared that a property income dividend be payable inrespect of the quarter ended 31 March 2015 as follows; Ex-Dividend Date - 7 May 2015 Record Date - 8 May 2015 Payment Date - 22 May 2015 Dividend per Share - 1.161p All Enquiries: The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedPO Box 255Trafalgar CourtLes BanquesSt PeterPortGuernseyGY1 3QL Sharon A WilliamsTel: 01481 745436Fax: 01481 745186