Disposal

Standard Life Invs Property Inc Tst
18 October 2005




STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST
DISPOSES OF TALBOT CLOSE, GREEN LANE, WALSALL

Standard Life Investments Property Income Trust ('SLIPIT') on 12 October 2005
disposed of an industrial investment at Green Lane, Walsall, for £8.5m
representing a net initial yield of 6.5%.

The investment comprises two 1970s portal frame warehouse units of 110,000 sq.
ft and 53,000 sq. ft respectively. Both units are let to PRG Powerhouse Ltd on
full repairing and insuring leases subject to 5 yearly upwards only rent reviews
expiring on 31 March 2018. The property was acquired by SLIPIT on 18 May 2004
for £7.773m including acquisition costs

The property was valued at £8.21 m by DTZ Debenham Tie Leung on an open market
basis in accordance with the RICS appraisal and valuation standards on 29
September 2005.

SLIPIT has retained the benefit of the capital allowances as part of this
transaction.

Press enquiries:

Richard England
Standard Life Investments Press Office
Telephone: [phone]



Northern Trust International Fund Administration Services (Guernsey) Limited
Company Secretary

Ends



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