Extension of the offer

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION IN PARTICULAR THE UNITED STATES, CANADA, AUSTRALIA AND JAPAN

This announcement is for information purposes only and shall not constitute an offer to sell or issue or the solicitation of an offer to buy, subscribe for or otherwise acquire any ordinary shares of Standard Life Investments Property Income Trust Limited in any jurisdiction in which any such offer or solicitation would be unlawful.

To:       RNS

From:  Standard Life Investments Property Income Trust Limited (the "Company")

Date:   8 December 2015

Amended closing date for Offer for Subscription

The Board announces that, in accordance with the terms and conditions of the Offer for Subscription as set out in the Prospectus, the Company is extending the closing date for the Offer for Subscription to 3 p.m. on 10 December 2015, the same closing date as the Initial Placing.  The closing date for the Initial Placing will currently remain 3p.m. 10 December 2015.

Words and expressions that are defined in the Prospectus shall have the same meanings where they are used in this announcement.

For further information please contact:

Jason Baggaley/Gordon Humphries, Standard Life Investments
Tel: [phone] 245 2735

Graeme Caton, Winterflood Investment Trusts
Tel: [phone]

Douglas Armstrong, Dickson Minto W.S.
Tel:  [phone]