Dividend Declaration

Standard Life Invs Property Inc Tst
11 August 2005


11 August 2005

Standard Life Investments Property Income Trust Limited

Re: Dividend Announcement

The Directors of Standard Life Investments Property Income Trust Limited ('the
Directors') have declared that an interim dividend be payable in respect of the
quarter ended 30 June 2005 as follows:-

     Ex Date                 17 August 2005
     Record Date             19 August 2005
     Pay Date                31 August 2005
     Dividend per Share      1.625p


All Enquiries:

The Company Secretary
Guernsey International Fund Managers Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Tel: [phone]
Fax: [phone]

END



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