Acquisition

Standard Life Invs Property Inc Tst
08 September 2005


8 SEPTEMBER 2005


STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED
ACQUIRES CHANCELLORS PLACE, 62 - 66 BROOMFIELD ROAD CHELMSFORD

The Standard Life Investments Property Income Trust on 7 September 2005 acquired
an office investment on Broomfield Road, Chelmsford for £7.7m representing a net
initial yield of 6.83%.

The investment comprises three modern self-contained office buildings totalling
25,457 sq. ft. Two of the buildings were constructed in 1990 and the third is a
converted barristers' chambers.

The property is let to Halifax Equitable Limited, BDO Stoy Hayward and Mowlem
Plc on effective FRI leases with 90% of the income expiring on 24 December 2015
and the remainder on 21 June 2008.

The property has been valued at £7.7m by DTZ Debenham Tie Leung on an open
market basis in accordance with the RICS appraisal and valuation standards.

Press enquiries:

Richard England
Standard Life Investments Press Office
Telephone: [phone]


Northern Trust International Fund Administration Services (Guernsey) Limited
Company Secretary

END







                      This information is provided by RNS
            The company news service from the London Stock Exchange
                   R