Result of AGM

Standard Life Invs Property Inc Tst
29 June 2007


                                                                    28 June 2007


            STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED

                        Result of Annual General Meeting



At the Annual General Meeting held on 28 June 2007, the following Special
Resolutions were passed;


Resolution 6


IT WAS RESOLVED To authorise the Company, in accordance with Section 5 of the
Companies (Purchase of Own Shares) Ordinance 1998 ('the Ordinance'), to make
market purchases (within the meaning of Section 18 of the Ordinance) of ordinary
shares of 1p each ('Ordinary Shares') provided that;


a) the maximum number of Ordinary Shares hereby authorised to be purchased shall
be 14.99 per cent of the issued Ordinary Shares on the date on which this
resolution is passed;


b) the minimum price which may be paid for an Ordinary Share shall be 1p;


c) The maximum price (exclusive of expenses) which may be paid for an Ordinary
Share shall be 105 per cent of the average of the middle market quotations (as
derived from the Daily Official List) for the Ordinary Shares for the five
business days immediately preceding the date of purchase;


d) unless previously varied, revoked or renewed, the authority hereby conferred
shall expire on 28 September 2008 or, if earlier, at the conclusion of the
Annual General Meeting of the Company to be held in 2008, save that the Company
may, prior to such expiry, enter into a contract to purchase Ordinary Shares
under such authority and may make a purchase of Ordinary Shares pursuant to any
such contract.


Resolution 7


IT WAS FURTHER RESOLVED That the Company be authorised, in accordance with
section 1 of The Companies (Purchase of Own Shares) (Treasury Shares) Ordinance,
2006, to hold any shares, purchased by it in accordance with the Companies
(Purchase of Own Shares) Ordinance, 1998, and out of distributable profits, as
treasury shares, by way of an amendment to the company's articles of association
as set out in the proposed articles of association to be tabled at the AGM which
will replace the Company's existing articles of association.





All Enquiries:


The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL


Tel: [phone]



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