API Abrdn Property Income Trust Limited

To:       Company Announcements
Date:     24^th June 2015
Company:  Standard Life Investments Property Income Trust Limited

Subject:  SLIPIT Purchase

Standard Life Investments Property Income Trust is pleased to announce that it has completed the purchase of Interplex 16 Bristol for £4.6m – two industrial units located close to the junction of the M4 and M5.  The larger of the two units is currently vacant and will be refurbished by the Company, whilst the second is let on a short lease, and the Company will seek to extend the term. The anticipated income yield after this asset management is just over 8%. The Company has also exchanged contracts to sell a small office in Swansea for £1.3m (completion due 29 June) and a small industrial unit in Stockton on Tees for £1.3m (completion due 14 August). The Company is progressing in the latter stages of several other purchases to invest the proceeds of the recent equity raise.

Jason Baggaley, fund manager of SLIPIT said “We are pleased to have been able to redeploy cash into assets that give us the potential for higher returns. Our low void level gives us the opportunity to invest in properties that are not currently let so that we can enhance the revenue return through active asset management.”

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