10 January 2017

                            PICTON PROPERTY INCOME LIMITED                         
                       ("Picton", the "Company" or the "Group")                    

         PICTON SECURES FIRST NEW OCCUPIER AT 50 FARRINGDON ROAD, LONDON, EC1      

    Picton (LSE:PCTN), the property investment company, announces that it has
    secured its first new occupier at 50 Farringdon Road in Clerkenwell, EC1.

    It has let 7,800 sq ft of office space to the leading multidisciplinary
    engineering contractor Volker Wessels. They will occupy the larger wing of the
    first floor on a ten year lease, subject to break, at an annual rent of £0.42
    million, in line with ERV. 

    The second floor and one small suite on the first floor remain available to let
    and there is good interest.  The property is situated a short walk from
    Farringdon station and with Crossrail due to open in 2019, the connectivity of
    this location will further improve.

    Picton has implemented a strategy to meet occupational demand by subdividing
    the space whilst retaining the previous high quality fit out, saving
    significant capital expenditure. On a pro rata basis the new rent is over 60%
    higher than the previous rent.

    Michael Morris, Chief Executive of Picton Capital Limited, commented: "This
    letting confirms our strategy to provide a 'plug and play' solution is
    attractive to occupiers. It is also encouraging that we have good interest in
    the remaining space."

                                         ENDS                                      


    For further information:

    Tavistock
    Jeremy Carey/James Verstringhe, 020 7920 3150, jverstringhe@tavistock.co.uk


    Picton Capital Limited
    Michael Morris, 020 7011 9980, michael.morris@picton.co.uk


    Note to Editors
    Picton is an income focused property investment company listed on the London
    Stock Exchange. Picton can invest both directly and indirectly in commercial
    property across the United Kingdom.

    With Net Assets of £423.9 million at 30 September 2016, the Company´s objective
    is to provide shareholders with an attractive level of income, together with
    the potential for capital growth by investing in the principal commercial
    property sectors.  www.picton.co.uk