Blocklisting Application

15 January 2018

Standard Life Investments Property Income Trust Limited

Blocklisting application

Standard Life Investments Property Income Trust Limited (the “Company”) has made an application to the UK Listing Authority for a blocklisting of 20,000,000 ordinary shares of 1p each in the Company (the “Shares”) to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange.

The Company continues to see strong demand for its Shares which has been reflected in the Shares trading at an average premium to net asset value of 7.7% over the last three months. The Company therefore intends to continue its issuance programme through its corporate broker, Winterflood Securities Limited, with a view to managing the Company’s premium to net asset value. Any Shares issued under the issuance programme will only be issued at a premium to net asset value (plus costs) and will be accretive to existing shareholders.

The net proceeds from the issue of new Shares will be used to reduce the Company's borrowings and/or invested in accordance with the Company's investment policy.

The blocklisting is expected to become effective at 8:00 a.m. on 16 January 2018.

For further details please contact:

Standard Life Investments Graeme McDonald	0131 245 3151
Winterflood Investment Trusts Graeme Caton Neil Langford	020 3100 0000