Interim Dividend

To: Company AnnouncementsDate: 27 January 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 an interim dividend be payable in respect ofthe quarter ended 31December 2014 as follows; Ex-Dividend Date - 5 February 2015 Record Date - 6 February 2015 Payment Date - 20 February 2015 Dividend per Share - 1.161p All Enquiries: The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedPO Box 255Trafalgar CourtLes BanquesSt PeterPortGuernseyGY1 3QL Claire Louise Cooke / Sharon A WilliamsTel: 01481 745417 / 745436Fax: 01481 745051 / 745186