Dividend Declaration

To: Company Announcements

Date: 4 November 2013

Company: 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 an interim dividend be payable in respect of the quarter ended 30 September 2013 as follows;

Ex-Dividend Date - 13 November 2013

Record Date - 15 November 2013

Payment Date - 29 November 2013

Dividend per Share - 1.133 p

All Enquiries:

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Claire Cooke

Tel: 01481 745417

Fax: 01481 745051