Block Listing of Shares

Standard Life Invs Property Inc Tst
13 September 2006


Standard Life Investments Property Income Trust Limited ('SLIPIT')


To: Company Announcements
Date: 13 September 2006


Subject: Block Listing of Shares Issue


SLIPIT announces that application has been made to the UK Listing Authority and
the London Stock Exchange for the block listing of 9,990,000 ordinary shares of
1p each in the capital of the Company.


Subject to the applications being approved, the Company may, through its
brokers, Dresdner Kleinwort, issue any or all of these shares for cash from time
to time provided always that no such issue will be made at prices below the then
prevailing net asset value per share.


Dresdner Kleinwort Wasserstein Securities Limited ('Dresdner Kleinwort') which
is authorised and regulated by the Financial Services Authority, is acting for
Standard Life Investments Property Income Trust Limited ('SLIPIT')and for no-one
else in connection with the contents of this announcement and will not be
responsible to anyone other than SLIPIT for providing the protections afforded
to customers of Dresdner Kleinwort, or for affording advice in relation to the
contents of this announcement or any matters referred to herein.



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]
Fax: [phone]

Gordon Humphries
Head of Investment Companies
Standard Life Investment Companies

0131 245 2735

Robbie Robertson/Tom Harris
Dresdner Kleinwort
020 7623 8000




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