Director/PDMR Shareholding

To:                   Company Announcements

Date:               9 December 2016

Company:       Standard Life Investments Property Income Trust Limited

Subject:           Director Dealing

In accordance with Article 19(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse (The Market Abuse Regulation), Standard Life Investments Property Income Trust Limited announces that, following a dividend reinvestment on 2 December 2016, Mr Michael Balfour, a Director of the Company received 260 ordinary shares at 85.75p representing 0.000068% of the Company’s issued share capital.

Mr Balfour is currently the beneficial holder of a total of 24,260 ordinary shares representing 0.0064% 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 A Williams
Tel:  [phone]
Fax: [phone]