TIDMSLI 
 
13 November 2014 
 
            Standard Life Investments Property Income Trust Limited 
 
                               Proposed Placing 
 
The Board of Standard Life Investments Property Income Trust Limited (the 
"Company") announces that,pursuant to the Placing Programme announced on 6 June 
2014,the Company is seeking to raise in excess of GBP12 million through a cash 
placing to institutional investors of new ordinary shares of 1 penny each in 
the Company (the "New Shares") (the "Placing"). 
 
The Placing is expected to close at 2.00 p.m. (London time) today but may close 
earlier or later at the absolute discretion of the Company. The issue price per 
New Share will be 75.5 pence, representing a 5 per cent. premium to the 
Company's net asset value per share as at 30 September 2014 (adjusted for the 
dividend payable on 28 November 2014 to which the New Shares will not be 
entitled). 
 
The net proceeds of the issue will be invested in acquisitions in accordance 
with the Company's investment policy. 
 
Institutional investors wishing to participate in the Placing should contact 
Winterflood Investment Trusts, the Company's corporate broker. 
 
Application will be made for the New Shares to be admitted to the premium 
segment of the Official List and to trading on the Main Market of the London 
Stock Exchange. It is expected that dealings in the New Shares will commence at 
8.00 a.m. on 19 November 2014. 
 
The New Shares will, when issued, be credited as fully paid and rank pari passu 
with the existing ordinary shares of no par value in the capital of the 
Company, including the right to receive all future dividends and distributions 
declared, made or paid save for the dividend payable on 28 November 2014 to 
shareholders on the register on 14 November 2014. 
 
Enquiries: 
 
Standard Life Investments                         +44 (0) 131 245 2735 
Gordon Humphries, Head of Investment Companies 
 
Winterflood Investment Trusts                     +44 (0) 20 3100 0268 
Graeme Caton                                      +44 (0) 20 3100 0258 
Darren Willis 
 
 
 
END
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