TIDMIPI 
 
Invesco Property Income Trust Limited 
 
HEADLINE: Property Valuation 
 
The Directors announce the valuation of the Company's property portfolio as at 
31 March 2010. 
 
  * UK portfolio: GBP103.9 million (31 December 2009: GBP103.1 million, excluding 
    Preston, now sold) 
 
  * European portfolio: EUR151.1 million (30 December 2009: EUR154.8 million) 
 
In Sterling terms the total valuation was GBP238.7 million. Despite a third 
successive increase in the UK assets, declines in the European portfolio and a 
weaker Euro resulted in a like for like decrease of 2.4% for the quarter. 
 
Set out below is an analysis, taking into account transactions, of the 
portfolio's vacancy rates, weighted average gross yields and unexpired lease 
terms at 31 March 2010 (31 December 2009). 
 
                             Portfolio at 31 March 2010 (31 December 20091) 
 
                                UK              European          Aggregate 
 
Vacancy rate 1            10.0% (12.9%)       4.4% (3.3%)        7.2% (8.2%) 
 
Average gross yield        9.9% (9.9%)        9.2% (9.2%)        9.5% (9.5%) 
 
Weighted average        5.4 yrs (5.1 yrs)  3.1 yrs (2.9 yrs)  4.2 yrs (4.0 yrs) 
unexpired lease term2 
 
Notes: 
 
1 Based on income, excluding the Hounslow property now held as a development 
site. 
 
2 To earlier of next break or lease maturity. 
 
As at 31 March 2010 the Sterling value of the Company's bank borrowings was GBP 
227.6 million (31 December 2009: GBP228.6 million). GBP2.1 million of sterling 
borrowings were repaid during the period following the sale of Preston. 
 
The loan to value ratio as at 31 March was 95.3 per cent. (31 December 2009: 
93.5 per cent.), which exceeds the maximum of 65 per cent. permitted under the 
Company's bank facility. The Company's interest cover stood at 158.8 per cent. 
as at 31 March (31 December 2009: 156.2 per cent.), compared with the 
covenanted minimum of 145 per cent. 
 
The Company's discussions with its lending bank regarding its future financing 
arrangements are continuing and the Board continues to consider and explore 
possible alternative strategies for the Company with third parties, including 
proposals which may lead to an offer for the Company. There is no certainty as 
to the outcome of these discussions or that any offer will be forthcoming. 
 
The Net Asset Value and the Adjusted Net Asset Value per share as at 31 March 
2010 will be announced in due course with the Company's results for the year 
ended 31 March 2010. 
 
15 April 2010 
 
Enquiries: 
 
Angus Pottinger 020 7065 4000 
 
Invesco Asset Management 
 
Rory Morrison 020 7543 3500 
 
Invesco Real Estate 
 
Sue Inglis 020 7050 6500 
 
Canaccord Adams 
 
 
 
END
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