RNS Number : 5889U
  Standard Life Invs Property Inc Tst
  15 May 2008
   
    STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED
    15 May 2008



    Re: Lease Restructure


    The Standard Life Investments Property Income Trust has agreed a lease restructure on two retail warehouse units in Clough Road, Hull
with DSG. In return for a capital payment the tenant-only break clause in the two leases has been removed, giving security of income until
2021. The park was valued at £15.6m at 30 March 2008 and the rent from DSG represents approximately 44% of the income from the property. 

    Jason Baggaley, Fund Manager of SLIPIT says "At a time of low levels of demand for bulky goods retail park units I am delighted to have
secured this strong income stream until 2021. In the current economic cycle it is important for us to protect our future income stream. This
transaction, along with the recent sale of Wellington House, London, has protected the Fund from a potential significant fall in income in
2011 and gives us continued confidence in maintaining a high dividend cover".



    All Enquiries to

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

    Tel: 01481 745529
    Fax: 01481 745085


    Jason Baggaley
    Fund Manager, Standard Life Investments

    DD 013102452833
    M. 07801039463


    END

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