Acquisition

Standard Life Invs Property Inc Tst
01 July 2005



STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST
ACQUIRES PLOT 4, WINGATES INDUSTRIAL ESTATE, BOLTON


The Standard Life Investments Property Income Trust on 29 June 2005 acquired a
distribution unit at Plot 4, Wingates Industrial Estate, Bolton for £2.662m
representing a net initial yield of 6.5%.

The investment comprises a brand new distribution unit of 35,500 sq.ft. let to
Grattan plc on a full repairing and insuring lease for a term of 15 years with 5
yearly upwards only rent reviews at £182,825 p.a.

The property has been valued at £2.75m 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]

Guernsey International Fund Managers Limited
Company Secretary
1 July 2005



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