PICTON PROPERTY INCOME LTD - Holding(s) in Company

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For filings with the FCA include the annex
For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer                     Picton Property
of existing shares to which voting rights are                           Income Limited
attached:ii

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights                                          X

An acquisition or disposal of qualifying financial instruments which may result
in theacquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to
qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the                            BlackRock, Inc.
notification obligation:iii

4. Full name of shareholder(s)
 (if differentfrom 3.):iv

5. Date of the transaction and date on
which the threshold is crossed or                                  23rd January 2015
reached:v

6. Date on which issuer notified:                                  26th January 2015

7. Threshold(s) that is/are crossed or                         Holding has gone above 5%
reached: vi, vii


8. Notified details:

A: Voting rights attached to sharesviii, ix

Class/type   Situation previous             Resulting situation after the triggering transaction
of           to the triggering
shares       transaction


if possible  Number           Number        Number          Number of voting        % of  voting rightsx
using        of               of            of shares       rights
the ISIN     Shares           Voting
CODE                          Rights
                                            Direct          Directxi  Indirectxii   Direct   Indirect


GB00B0LCW208 N/A              N/A           N/A             N/A       29,108,477    N/A      6.08%



B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial  Expiration      Exercise/                 Number of voting              % of voting
instrument         datexiii        Conversion Periodxiv      rights that may be            rights
                                                             acquired if the
                                                             instrument is
                                                             exercised/ converted.



C: Financial Instruments with similar economic effect to Qualifying Financial
Instrumentsxv, xvi

Resulting situation after the triggering transaction

Type of       Exercise price  Expiration   Exercise/        Number of voting rights  % of voting rightsxix,
financial                     datexvii     Conversion       instrument refers to     xx
instrument                                 periodxviii


                                                                                     Nominal  Delta



Total (A+B+C)

Number of voting rights                            Percentage of voting rights

29,108,477                                         6.08%


9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:xxi



Proxy Voting:

10. Name of the proxy holder:

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

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




13. Additional information:                BlackRock Regulatory Threshold Reporting Team


14. Contact name:                          Gareth Slade

15. Contact telephone number:              020 7743 2536


Note: Annex should only be submitted to the FCA not the issuer

Annex: Notification of major interests in sharesxxii



A: Identity of the persons or legal entity subject to the notification
obligation

Full name
(including legal form of legal entities)                   BlackRock, Inc.


Contact address                                            c/o 12 Throgmorton Avenue,
(registered office for legal entities)                     London, EC2N 2DL


Phone number & email                                       020 7743 2536;
                                                           emeadisclosures@blackrock.com


Other useful information                                   BlackRock Regulatory
(at least legal representative for legal persons)          Threshold Reporting Team


B: Identity of the notifier, if applicable                 BlackRock Investment
Full name                                                  Management (UK) Limited


Contact address                                            12 Throgmorton Avenue,
                                                           London, EC2N 2DL


Phone number & email                                       020 7743 2536;
                                                           emeadisclosures@blackrock.com


Other useful information                                   BlackRock Regulatory
(e.g. functional relationship with the person or legal     Threshold Reporting Team
entity subject to the notification obligation)



C: Additional information



For notes on how to complete form TR-1 please see the FCA website.