Completion of portfolio acquisition

To:          RNS

From:     Standard Life Investments Property Income Trust Limited

Date:      23 December 2015

STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED (the "Company")

Completion of portfolio acquisition

The Board is pleased to announce that the Company has completed the purchase of the portfolio of 22 UK real estate assets.  The Board believes that this purchase will diversify further the Company's existing property portfolio with properties which are complementary to the existing assets and will strengthen the Company's dividend cover.

Jason Baggaley, Fund Manager of the Company commented as follows:

"I am delighted with this acquisition as the portfolio has plenty of asset management potential."

For further information please contact:

Jason Baggaley Standard Life Investments
Tel: [phone]