SLIPIT Purchase

To: Company Announcements

Date: 12 November 2014

Company: Standard Life Investments Property Income Trust Limited


Subject: SLIPIT Purchase

Standard Life Investments Property Income Trust is pleased to confirm it has
completed the purchase of a mixed use retail and leisure investment in Glossop
for £10.15m.

The purchase price reflects an initial yield of 6.1% and an equivalent yield of
7.5%. The property has two vacant units, one of which is in solicitors hands
and the other has good interest. On letting these the income yield will go to
7.3%.

The investment has 10 tenants, the largest being M&S Simply foods in a purpose
built unit constructed in 2012 and let on a 15 year lease. Other significant
tenants include Travelodge, Weatherspoons and Peacocks.

Jason Baggaley, fund manager of SLIPIT said "The investment provides SLIPIT
with a diverse income stream with opportunity for asset management in an
engaging development in Glossop. The scheme has become the focus for leisure
provision in the town centre and we look forward to letting the vacant space to
further improve vibrancy. The purchase will be funded out of existing cash
resources and leaves the Company effectively fully invested".

All enquiries:

Jason Baggaley
Standard Life Investments Limited
Tel: [phone]