Holding(s) in Company

Standard Life Invs Property Inc Tst
21 June 2006


21 June 2006


Standard Life Investments Property Income Trust Limited
Re: Sale of Shares by ING Real Estate Investment Management (UK Funds) Ltd

ING Real Estate Investment Management (UK) Limited have informed us that ING
Real Estate Investment Management (UK Funds) Ltd have sold 575,000 Standard Life
Investments Property Income Trust Limited Ordinary Shares on Tuesday 20 June
2006 and now hold 15,614,887 Ordinary Shares which represents 15.615% of the
issued capital.


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

Tel: [phone]
Fax: [phone]

END


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