SLIPIT Purchase

To: Company AnnouncementsDate: 9th March 2015Company: Standard Life Investments Property Income Trust Limited Subject: SLIPIT Purchase Standard Life Investments Property Income Trust is pleased to confirm that ithas completed the purchase of a retail warehouse investment in Preston for£15.9m, at a yield of 7%. The property is let to DSG for a further 16 years withfixed increases in the rent every five years. The unit is adjacent to thedominant park in the town and opposite a food store. The purchase takes theCompany's gross assets to just over £300m based on the December 2014 valuations. Jason Baggaley, Fund Manager at Standard Life Investments, said "The purchaseprovides the Company with an attractive income stream from a good qualitytenant and property. The purchase utilises the majority of the cash from therecent equity raise and is accretive to the revenue account." All enquiries: The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedPO Box 255Trafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QL Sharon Ann WilliamsTel: 01481 745436Fax: 01481 745085