RNS Number : 2916X
  Standard Life Invs Property Inc Tst
  23 June 2008
   

    Standard Life Investments Property Income Trust Limited

    Statement re SLIPIT change of fees on Cash

    23 June 2008
    The Board and Manager of the Standard Life Investments Property Income Trust are pleased to announce a revised fee for the management of
cash holdings in the Company, with effect from 1st July 2008. 

    The revised fee will be calculated as 20bps of cash holdings above 10% of total assets at the relevant quarter end date. The fee
reduction was proposed by the Manager to reflect the difficult times that the sector and UK commercial property have faced, and the prudence
of holding cash in the current cycle.

    The Company currently holds circa �48m in a Triple A cash account, representing approximately 23% of the investment portfolio at end
March 2008. The high level of cash follows the successful sale of a portfolio in July 2007 and a central London office in January 2008, both
of which have proved timely given subsequent market falls.

    The Manager continues to focus on securing a strong future income stream and is keeping a close eye on opportunities to re-invest the
cash. Its current view is that the commercial property market in the UK will show further capital falls in 2008, with the best buying
opportunities not being for several months yet.

    Enquiries:

    Jason Baggaley          - Fund Manager                              0131 245 2833
    Gordon Humphries    - Head of Investment Companies     0131 245 2735
    Euan Baird                - Client Fund Manager                    0131 245 6114


    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

    END

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