Portfolio Update

Standard Life Invs Property Inc Tst
06 October 2005


STANDARD LIFE INVESTMENTS PROPERTY INCOME TRUST LIMITED

In accordance with paragraph 21.20 (l) (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 30 September 2005:

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

Units 1& 2 Green Lane Industrial Estate, Walsall

The Axys, Nantgarw

Chancellors Place, Chelmesford

Bathgate Retail Park, Bathgate



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]




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