Publication of Supplementary Prospectus

4 August 2014

                        PICTON PROPERTY INCOME LIMITED                         
                          ("Picton" or the "Company")                          

                    Publication of Supplementary Prospectus                    

Picton Property Income Limited (the "Company") has published a supplementary
prospectus approved by the UK Listing Authority. The publication of the
supplementary prospectus is a regulatory requirement under the Prospectus Rules
following the publication of the Company's Net Asset Value for the quarter
ended 30 June 2014.

The supplementary prospectus is supplemental to, and should be read in
conjunction with, the Prospectus published by the Company on 1 May 2014 and the
supplementary prospectus published by the Company on 14 July 2014, both in
relation to the Placing Programme.

Copies of the supplementary prospectus will shortly be available for inspection
at www.hemscott.com/nsm.do and on the Company's website at www.pictonproperty.co.uk

ENDS

For further information:

Northern Trust International Fund Administration Services (Guernsey) Limited
David Sauvarin                        
The Company Secretary
Trafalgar Court                       Telephone: [phone]
Les Banques
St Peter Port
Guernsey
GY1 3QL

Picton Capital Limited
Michael Morris                        Telephone: [phone]

J.P. Morgan Cazenove
William Simmonds                      Telephone: [phone]

Oriel Securities Limited
Roger Clarke                          Telephone: [phone]

Tavistock Communications
Jeremy Carey, James Verstringhe       Telephone: [phone]



Note to Editors

Picton Property Income Limited ('Picton') is an income focused, property
investment company listed on the London Stock Exchange. It was established in
2005 to invest both directly and indirectly in commercial property across the
United Kingdom.

With Net Assets of £258.9 million at 30 June 2014, the Company's objective is
to provide shareholders with an attractive level of income, together with the
potential for capital growth by investing in the principal commercial property
sectors.