Portfolio Update

Standard Life Invs Property Inc Tst
04 April 2006


STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED

4 April 2006


Re: Listing Rule 15 - Top Ten Holdings


In accordance with paragraph 15.4.11 (ii) of the Listing Rules, Standard Life
Investments Property Income Trust Limited announces its ten largest investments,
including all investments with a value greater than 5% of its gross assets, as
at 31 March 2006:


All UK Property:


Clough Road Retail Park, Hull


Wellington House, London


Hollywood Green, London


Drakes Way, Swindon


Wellesley House, Harlow


Solution Hall, Welwyn Garden City


2 - 4 Bucknall Street, London


The Axys, Nantgarw


Whitebear Yard, London


Chancellors Place, Chelmesford


All Enquiries:


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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