Holding(s) in Company

Standard Life Invs Property Inc Tst
03 July 2006


3 July 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 665,000 Standard Life
Investments Property Income Trust Limited Ordinary Shares on Tuesday 27 June
2006 and now hold 14,949,887 Ordinary Shares which represents 14.950% 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]


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