Notice of AGM

Standard Life Investments Property Income Trust Limited            

  (anauthorised closed-ended investment company incorporated in Guernsey with  
                          registration number 41352)                           
                                (the "Company")                                 

                                 20 April 2015                                 

                       NOTICE OF ANNUAL GENERAL MEETING                        

Notice is hereby given that the Eleventh Annual General Meeting of the Company
will be held at 30 St Mary Axe, London, EC3A 8EP on Wednesday 27 May 2015 at
11.30 a.m.

A copy of the Notice of Annual General Meeting and the Annual Report and
Financial Statements for the year ended 31 December 2014 has been posted to
shareholders and is available on the Company's website: 
http://www.standardlifeinvestments.com/its

In accordance with Listing Rule 9.6.3, the documents will shortly be available
for inspection on the National Storage Mechanism which is located at:
www.morningstar.co.uk/uk/NSM

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

Tel: [phone]
Fax: [phone]