REIT Conversion

UK COMMERCIAL PROPERTY REIT LIMITED (THE "COMPANY")

2 JULY 2018

REIT CONVERSION

Further to the announcement made by the Company on 3 May 2018 and the Extraordinary General Meeting that was held on 29 May 2018, the Company announces that it has entered the UK REIT regime with effect from 1 July 2018.

The Company also announces that with effect from 1 July 2018 the Company's name has been changed to UK Commercial Property REIT Limited.

For further information please contact:

Will Fulton, Standard Life Investments
Tel: [phone]

Graeme McDonald, Standard Life Investments
Tel: [phone]