Forward Purchase Agreement of New Asset

27 February 2014 GCP Student Living plc (the "Company" or "Group") Forward Purchase Agreement GCP Student Living plc, the UK's first REIT focused on student residentialassets, today announces that it has entered into a forward purchase agreementto acquire Scape Guildford, a high specification, purpose-built, privatestudent accommodation residence located adjacent to the University of Surrey inGuildford. Construction of the site is expected to commence in July 2014 for completion inQ3 2015. Once complete, the scheme is expected to comprise approximately 140bedrooms. The University of Surrey is ranked 8th in the Guardian University Guide 2014and is home to more than 15,000 students including 4,600 overseas students fromover 145 different countries. For further information please contact: Gravis Capital Partners LLP Tom Ward [email protected] 020 7518 1496 Cenkos Securities plc Dion Di Miceli [email protected] 020 7397 1921Tom Scrivens [email protected] 020 7397 1915 Buchanan Charles Ryland [email protected] 020 7466 5000Sophie McNulty [email protected] About GCP Student Living plc The Company is the first student accommodation REIT in the UK. The Companyinvests in modern, purpose-built, private student residential accommodation andteaching facilities. Facilities will be located primarily in and around Londonwhere the Investment Manager believes the Company is likely to benefit fromsupply and demand imbalances for student residential accommodation. The Company's first asset, Scape East, is located directly opposite Queen Mary,University of London, one of London's leading universities with c.17,000students and Russell Group status. International students will be a specifictarget as they are the growth engine of UK Higher Education sector,particularly in London. The Company's second asset, The Pad, is a private student accommodationresidence located adjacent to Royal Holloway, University of London, in Surrey.Royal Holloway is ranked in 4th place in the world (1st in the UK) in the TimesHigher Education World University Rankings category of 'International Outlook',recognising it as a global university. It is home to more than 9,000 studentsfrom over 100 countries. The Company's assets are primarily occupied by international students and offernew high specification facilities and hotel-level concierge type services whichare attractive to overseas students. The Company will only acquire properties once they are completed and generatingincome.