Director Changes

Standard Life Investments Property Income Trust Limited (the “Company”)
(an authorised closed-ended investment company incorporated in Guernsey with registration number 41352)

Director Declaration
11 March 2016

In accordance with requirements of the London Stock Exchange Listing Rule 9.6.11, the Company announces the appointment of Mike Balfour as a non-executive Director of the Company with effect from 10 March 2016.

Mr Balfour is a member of the Institute of Chartered Accountannts of Scotland and recently stepped down as CEO of Thomas Miller Investment, an investment management company headquartered in London. Prior to that Mr Balfour was the CEO of Glasgow Investment Managers until 2007 and before that was the Chief Investment Officer of Edinburgh Fund Managers.

Mr Balfour is also a Director of Martin Currie Global Portfolio Trust plc, and Murray Income Trust plc.

There is no additional information regarding Mike Balfour that is required to be disclosed pursuant to Listing Rule 9.6.13.

Enquiries:
Northern Trust International Fund Administration Services (Guernsey) Limited

Tel: [phone]