Holding(s) in Company

TR–1:        Notifications of Major Interests in Shares

1: Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Standard Life Investment Property Income Trust Limited

2:    Reason for notification (yes/no)
An acquisition or disposal of voting rights		no
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached		no
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments		no
An event changing the breakdown of voting rights		yes
Other (please specify):		no

3. Full name of person(s) subject to the notification                          obligation:	Standard Life Investments (Holdings) Limited (Parent Company) -7.713% comprised of: Standard Life Investments Limited - 7.713% Ignis Investment Services Limited - 0%
4. Full name of shareholder(s) (if different from 3.):	Vidacos Nominees\HSBC
5. Date of the transaction (and date on which the threshold       is crossed or reached):	24/06/2015
6. Date on which issuer notified:	25/06/2015
7. Threshold(s) that is/are crossed or reached:	8%

8:    Notified Details
Voting rights attached to shares
Class/type of share  If possible use ISIN code		GB0033875286
Situation previous to the triggering transaction
Number of shares		Number of voting rights
22,244,001		22,244,001
Resulting situation after the triggering transaction
Number of shares	Number of voting rights		Percentage of voting rights
	Direct	Indirect	Direct	Indirect
22,244,001	22,244,001		7.713	0

Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date	Exercise/ conversion period/date	No. of voting rights that may be acquired (if the instrument exercised/converted)	Percentage of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price	Expiration date	Exercise/ Conversion period	Number of voting rights instrument refers to	% of voting rights
					Nominal	Delta

Total (A+B+C)
Number of voting rights	Percentage of voting rights
22,244,001	7.713

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

Standard Life Investments (Holdings) Limited (Parent Company) -7.713% comprised of: Standard Life Investments Limited - 7.713% Ignis Investment Services Limited - 0%

Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:
14. Contact name:	[e-mail] Standard Life Investments Ltd
15. Contact telephone number:	[phone]