SLIPIT Purchase

To: Company Announcements
Date: 19 September 2014
Company: Standard Life Investments Property Income Trust Limited

Subject: SLIPIT Purchase

Standard Life Investments Property Holdings is pleased to announce it has
exchanged on the purchase of a logistics and industrial investment in Rotherham
for £14.6million, reflecting a net initial yield of 7%. The investment
comprises three units totalling 360,000sqft and let to Symphony Group PLC on a
new 20 year lease with a tenant break in year 15. The initial rent is £
1.08million p.a. and the lease has rent reviews every five years with the rent
indexed to RPI capped at 4% p.a.

As a result of the purchase the Company has invested most of the proceeds from
the recent capital raise, with only approximately £7million available for
investment.

Jason Baggaley, Fund Manager for SLIPIT commented "We are delighted to have
exchanged on this purchase, which is due to complete on the 24th September.
Following the recent purchase of a portfolio of three logistics units for £
28million the Company is close to being fully invested. We have found
attractive assets that provide good quality income for the Company, supporting
our objective of offering an attractive dividend yield that is fully covered,
and without experiencing prolonged cash drag. We are actively looking at a
number of other opportunities as well.

All enquiries:

Jason Baggaley
Standard Life Investments Limited
Tel: [phone]