API Abrdn Property Income Trust Limited

26 February 2015

            Standard Life Investments Property Income Trust Limited

                                Issue of Equity

Standard Life Investments Property Income Trust Limited (the "Company") has
issued 1,280,472 new ordinary shares of 1 penny each in the Company (the
"Ordinary Shares") at a price of 80.2 pence per New Share (the "Issue"). The
Company has now issued 16,070,000 Ordinary Shares pursuant its existing
disapplication of pre-emption rights authorities and no further issuance is
permitted without a renewal of such authorities.

Application will be made for the new Ordinary Shares to be admitted to the
premium segment of the Official List and to trading on the Main Market of the
London Stock Exchange. It is expected that dealings in the new Ordinary Shares
will commence at 8.00 a.m. on 4 March 2015.

The new Ordinary Shares will, when issued, be credited as fully paid and rank
paripassu with the existing Ordinary Shares, including the right to receive all
future dividends and distributions declared, made or paid.

The total number of Ordinary Shares in issue stands at 276,779,237 following
the Issue, and the total number of voting rights in the Company is 276,779,237.
There are no shares held in Treasury.

The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FCA's
Disclosure and Transparency Rules.


Enquiries:

Standard Life Investments
Gordon Humphries, Head of Investment Companies    +44 (0) 131 245 2735

Winterflood Investment Trusts
Graeme Caton                                      +44 (0) 20 3100 0268
Neil Langford                                     +44 (0) 20 3100 0160