Director Dealing

To:                  Company Announcements

Date:               24 December 2015

Company:        Standard Life Investments Property Income Trust Limited

Subject:           Director Dealing

Pursuant to Section 3.1 of the Disclosure and Transparency Rules, Standard Life Investments Property Income Trust Limited announces that the following beneficial holdings of ordinary shares were acquired by Mr Robert Peto, a Director of the Company, and Mr Dick Barfield, the Chairman of the Company, on 21^st December 2015.

Mr Peto purchased 30,000 ordinary shares at 82p representing 0.0079% of the Company’s issued share capital.

Mr Peto is the beneficial holder of a total of 25,537 ordinary shares representing 0.0067% of the Company’s issued share capital. Mrs Peto is the beneficial holder of a total of 31,898 shares.

Mr Barfield purchased 13,000 ordinary shares at 82p representing 0.0034% of the Company’s issued share capital. The shares are registered under Alliance Trust Savings.

Mr Barfield is the beneficial holder of 83,128 ordinary shares representing 0.0218% of the Company’s issued share capital.

All Enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
PO Box 255
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Sharon Williams
Tel:  [phone]
Fax: [phone]