Holding(s) in Company

RNS Number : 2729F

Standard Life Invs Property Inc Tst

07 October 2008

TR-1: notification of major interests in shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:	Standard Life Investments Property Income Trust Limited
2. Reason for the notification (please tick the appropriate box or boxes)
An acquisition or disposal of voting rights		X
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An event changing the breakdown of voting rights
Other (please specify):____Disclosure for purposes of transparency_______
3. Full name of person(s) subject to the notification obligation:	FIL Limited (FIL)
4. Full name of shareholder(s) (if different from 3.):	See 9
5. Date of the transaction (and date on which the threshold is crossed or reached if different):	03 October 2008
6. Date on which issuer notified:	06 October 2008
7. Threshold(s) that is/are crossed or reached:	5%
8. Notified details:

A: Voting rights attached to shares
Class/type of shares if possible using the ISIN CODE	Situation previous to the Triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights viii	Number of shares	Number of voting rights ix		% of voting rights
			Direct	Direct x	Indirect xi	Direct	Indirect
ISIN: GB0033875286	5,199,626	5,199,626	5,215,751	5,215,751		5.01%

B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of financial instrument	Expiration date xiii	Exercise/ Conversion Period/ Date xiv	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights

Total (A+B)
Number of voting rights	% of voting rights
5,215,751	5.01%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable xv:

Issuer Name: Standard Life Investments Property Income Fund

Current ownership percentage: 5.01%

Total shares held: 5,215,751

Issued share capital: 104,000,000

Shares Held	Nominee	Management Company
5,164,955	JP Morgan, Bournmouth	FIL
50,796	JP Morgan, Bournmouth	FISL

FIL Limited (FIL) is the parent holding company for the various direct and indirect subsidiaries, including FIL Fund Management Limited (FFML), FIL Investment Services Limited (FISL), FIL Gestion (FIGEST), FIL Asset Management (Korea) Limited (FIAKL), FIL Investments Mangement (Hong Kong) Limited (FIMHK), FIL Pension Management (FPM), Fidelity Investments Japan (FIJ), investment managers for various non-US investment companies and institutional clients.

Proxy Voting:
10. Name of the proxy holder:	FIL Limited (FIL)
11. Number of voting rights proxy holder will cease to hold:	16,125 shares
12. Date on which proxy holder will cease to hold voting rights:	03 October 2008