Property Valuation

Standard Life Invs Property Inc Tst
19 December 2007


19 December 2007


Standard Life Investment Property Income Trust Limited

Re: News release



Property Valuation


The Company will announce its property valuation in respect of the quarter
ending 31 December 2007 on Monday 21 January 2007.


Cash Position


The Company's cash position at 30 November 2007, after payment of the interim
dividend, was £33.5m. Cash as a percentage of debt was therefore 39.7% (£33.5m/
£84.4m).


Borrowings


      (i)            Loan To Value

As at 30 September 2007, the LTV was 27.5% (calculated as debt less cash/market
value of properties).


    (ii)            Gearing

As at 30 September 2007, gearing was 30.3% (calculated as debt plus zero
dividend preference shares less cash/market value of properties).


Dividend Cover


The Company's historic dividend cover ratio for the last financial year, ended
31 December 2006 was:


Profit for the year £6,929,192

Total Dividends (cash basis): £6,500,000

Total Dividends (accruals basis): £6,830,200

Dividend Cover: 106.6 (IFRS)

Dividend Cover: 101.4 (UK GAAP)


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]


END




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