Holding(s) in Company

Standard Life Invs Property Inc Tst
21 March 2007



TR-1(i): notification of major interests in shares

1. Identity of the issuer or the underlying issuer Standard Life Inv Prop Inc
of existing shares to which voting rights are      Trust
attached(1):                                       --------------------
-------------------------------
2. Reason for the notification (please tick the appropriate box or boxes)
                                                                            
--------------------------------------------
An acquisition or disposal of voting rights
--------------------------------------------                               
An acquisition or disposal of financial instruments which may result in
the acquisition of shares already issued to which voting rights are        
attached
--------------------------------------------
An event changing the breakdown of voting rights
--------------------------------------------                               
Other (please specify):____Disclosure for purposes of
transparency_______                                                 x       
--------------------------------------------
3. Full name of person(s) subject to the           Rensburg Sheppards Investment
notification obligation(1):                        Management Limited
-------------------------------                    --------------------
4. Full name of shareholder(s) (if different from  N/A
3.)(1):                                            --------------------
-------------------------------
5. Date of the transaction (and date on which the  28th February 2007
threshold is crossed or reached if different)(1):  --------------------
-------------------------------
6. Date on which issuer notified:                  6th March 2007
-------------------------------                    --------------------
7. Threshold(s) that is/are
crossed or reached:                                                             6%
-------------------------------                                --------------------
8. Notified details:                               Nominee Holdings
-------------------------------                    --------------------



A: Voting rights attached to shares


Class/type of  Situation previous   Resulting situation after the triggering
shares         to the Triggering    transaction(1)
               transaction (1)
if possible
using the ISIN Number   Number of   Number   Number of voting   % of voting
CODE           of       Voting      of       rights ix          rights
               Shares   Rights      shares
                        viii        Direct   Direct Indirect    Direct   Indirect
                                             x      xi


Ordinary
Shares                                              6,298,468                6.06%
GB0033875286



B: Financial Instruments


Resulting situation after the triggering transaction xii

Type of      Expiration Exercise/      Number of voting rights that may % of
financial    date       Conversion     be acquired if the instrument is voting
instrument   xiii       Period/ Date   exercised/ converted.            rights
                        xiv

Total (A+B)


Number of voting rights                      % of voting rights


        6,298,468                                6.06%



9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable xv:
Client Holdings registered in the name of Nominee companies 100% owned by
Rensburg Sheppards Investment Management Limited.

Proxy Voting:

10. Name of the proxy holder:                                             N/A

11. Number of voting rights proxy holder will cease to hold:              N/A

12. Date on which proxy holder will cease to hold voting rights:          N/A

13. Additional information:                                          N/A

14. Contact name:                                                    N/A

15. Contact telephone number:                                        N/A


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