Dividend Declaration

Standard Life Invs Property Inc Tst
12 May 2005


12 May 2005

Standard Life Investments Property Income Trust Limited

Re: Dividend Announcement

The Directors of Standard Life Investments Property Income Trust Limited ('the
Directors') have declared that an interim dividend be payable in respect of the
quarter ended 31 March 2005 as follows:-

Ex Date 18 May 2005
Record Date 20 May 2005
Pay Date 31 May 2005
Dividend per Share 1.625p


All Enquiries:

The Company Secretary
Guernsey International Fund Managers Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Tel: [phone]
Fax: [phone]

END



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