Interim Dividend

To:        Company Announcements
Date:      27 January 2015
Company:   Standard Life Investments Property Income Trust Limited

Subject:   Dividend Declaration


Interim Dividend

The Directors of Standard Life Investments Property Income Trust Limited(the
"Directors") have declared that an interim dividend be payable in respect of
the quarter ended 31December 2014 as follows;

Ex-Dividend Date -    5 February 2015

Record Date -         6 February 2015

Payment Date -        20 February 2015

Dividend per Share -  1.161p

All Enquiries:

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

Claire Louise Cooke / Sharon A Williams
Tel: [phone] / 745436
Fax: [phone] / 745186