TIDMIPI 
 
TO BE SENT TO CISX 
 
                     Invesco Property Income Trust Limited 
 
HEADLINE: Property Valuation and update on third party discussions 
 
The Directors announce the valuation of the Company's property portfolio as at 
30 September 2010. 
 
  * UK portfolio: GBP96.8 million (30 June 2010: GBP97.4 million, excluding Fleet 
    House, Peterborough, now sold) 
 
  * European portfolio: EUR145.3 million (30 June 2010: EUR146.5 million) 
 
In Sterling terms the total valuation was GBP221.9 million, up 2.7% on a like for 
like basis. The change reflects a slight decline in values in both the UK 
(-0.6%) and Europe (-0.8%) but a 5.9% increase in the Euro exchange rate. 
 
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 30 September 2010 (30 June 2010). 
 
                             Portfolio at 30 September 2010 (30 June 20101) 
 
                                UK              European          Aggregate 
 
Vacancy rate 2             4.1% (6.9%)        8.5% (2.8%)        6.4% (4.9%) 
 
Average gross yield        9.7% (10.0%)       9.0% (9.4%)        9.2% (9.6%) 
 
Weighted average        5.2 yrs (5.0 yrs)  3.7 yrs (2.9 yrs)  4.4 yrs (4.0 yrs) 
unexpired lease term3 
 
Notes: 
 
1 Like for like, excluding disposals 
 
2 Based on income, excluding the Hounslow property now held as a development 
site. 
 
3 To earlier of next break or lease maturity. 
 
As at 30 September 2010 the Sterling value of the Company's bank borrowings was 
GBP217.2 million (30 June 2010: GBP216.0 million). The change reflects currency 
movements and GBP6.0 million of sterling borrowings being repaid during the 
period following the sale of Fleet House, Peterborough. 
 
The loan to value ratio was 97.9 per cent. (30 June 2010: 97.4 per cent.), 
which exceeds the maximum of 65 per cent. permitted under the Company's bank 
facility. The Company's interest cover stands at 139.2 per cent. (30 June 2010: 
151.5 per cent.) compared with the covenanted minimum of 145 per cent. The 
reduction in interest cover has arisen partly as a result of rent free periods 
offered as incentives to tenants which have temporarily reduced cashflow and 
partly from increased vacancy rates in France. 
 
It has not proved possible to negotiate mutually agreeable terms between third 
parties, the lending bank and the Company. Such discussions are now at an end. 
Nevertheless, the Company remains in an offer period for the purposes of the 
City Code on Takeovers and Mergers. The Company remains in bilateral 
discussions with its lending bank regarding its future financing arrangements. 
 
The Net Asset Value and the Adjusted Net Asset Value per share as at 30 
September 2010 will be announced in due course. 
 
13 October 2010 
 
Enquiries: 
 
Angus Pottinger 020 7065 4000 
 
Invesco Asset Management 
 
Rory Morrison 020 7543 3500 
 
Invesco Real Estate 
 
Sue Inglis 020 7050 6500 
 
Canaccord Genuity 
 
 
 
END
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