To:                      Company Announcements
    Date:                   17 January 2017
    Company:           Standard Life Investments Property Income Trust Limited

    Subject:              SLIPIT Sale

    Standard Life Investments Property Income Trust has completed the sale of The
    Quadrangle in Cheltenham for £11.075m. The 1970s office block extends to
    approximately 58,900sqft and was acquired in Dec 2015 as part of the Pearl
    portfolio for £10.05m including costs. The property was single let to RBS with
    a lease expiry in June 2018.  The sale proceeds are being used to reduce
    borrowings under the Revolving Credit Facility.   


    All enquiries:
    The Company Secretary
    Northern Trust International Fund Administration Services (Guernsey) Limited
    PO Box 255
    Trafalgar Court
    Les Banques
    St Peter Port
    Guernsey
    GY1 3QL

    Sharon Ann Williams
    Tel:        01481 745436
    Fax:        01481 745085