TIDMIPI 
 
TO BE SENT TO CISX 
 
                     Invesco Property Income Trust Limited 
 
HEADLINE: Property Valuation 
 
The Directors announce the valuation of the Company's property portfolio as at 
31 March 2011. 
 
  * UK portfolio: GBP90.6 million (31 December 2010: GBP88.8 million, excluding 
    assets sold) 
 
  * European portfolio: EUR140.1 million (31 December 2010: EUR141.9 million) 
 
In Sterling terms the total valuation was GBP213.8 million, up 1.6% on a like for 
like basis. The 2.0% rise in the UK values and positive currency movements were 
slightly offset by a decline in European values. 
 
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 2011 (31 December 2010). 
 
                             Portfolio at 31 March 2011 (31 December 2010) 
 
                                UK              European          Aggregate 
 
Vacancy rate               7.3% (4.5%)       18.1% (14.5%)       13.0% (9.7%) 
 
Average gross yield        9.8% (9.8%)        7.9% (8.5%)        8.7% (9.0%) 
 
Weighted average        6.0 yrs (5.6 yrs)  2.9 yrs (3.0 yrs)  4.4 yrs (4.3 yrs) 
unexpired lease term1 
 
Notes: 
 
1 To earlier of next break or lease maturity. 
 
As at 31 March 2011 the Sterling value of the Company's bank borrowings was GBP 
208.6 million (31 December 2010: GBP217.2 million). The loan to value ratio was 
97.6 per cent. (31 December 2010: 97.8 per cent.), which exceeds the maximum of 
65 per cent. permitted under the Company's bank facility. The Company's 
interest cover stands at 132.8 per cent. (31 December 2010: 132.3 per cent.) 
compared with the covenanted minimum of 145 per cent. 
 
As announced on 24 March 2011, the Company has agreed in principle with its 
lending bank terms for a restructuring of its loan facility. A further 
announcement regarding the restructuring will be made as soon as practicable 
 
The Net Asset Value and the Adjusted Net Asset Value per share as at 31 March 
2011 will be announced in due course with the audited results for the year. 
 
11 April 2011 
 
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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