4 August 2014 PICTON PROPERTY INCOME LIMITED ("Picton" or the "Company") Publication of Supplementary Prospectus Picton Property Income Limited (the "Company") has published a supplementary prospectus approved by the UK Listing Authority. The publication of the supplementary prospectus is a regulatory requirement under the Prospectus Rules following the publication of the Company's Net Asset Value for the quarter ended 30 June 2014. The supplementary prospectus is supplemental to, and should be read in conjunction with, the Prospectus published by the Company on 1 May 2014 and the supplementary prospectus published by the Company on 14 July 2014, both in relation to the Placing Programme. Copies of the supplementary prospectus will shortly be available for inspection at www.hemscott.com/nsm.do and on the Company's website at www.pictonproperty.co.uk ENDS For further information: Northern Trust International Fund Administration Services (Guernsey) Limited David Sauvarin The Company Secretary Trafalgar Court Telephone: 44 1481 745 529 Les Banques St Peter Port Guernsey GY1 3QL Picton Capital Limited Michael Morris Telephone: 44 20 7628 4800 J.P. Morgan Cazenove William Simmonds Telephone: 44 20 7742 4000 Oriel Securities Limited Roger Clarke Telephone: 44 20 7710 7600 Tavistock Communications Jeremy Carey, James Verstringhe Telephone: 44 20 7920 3150 Note to Editors Picton Property Income Limited ('Picton') is an income focused, property investment company listed on the London Stock Exchange. It was established in 2005 to invest both directly and indirectly in commercial property across the United Kingdom. With Net Assets of £258.9 million at 30 June 2014, the Company's objective is to provide shareholders with an attractive level of income, together with the potential for capital growth by investing in the principal commercial property sectors.