Further Details of Equity Raise

GCP STUDENT LIVING PLC Further Details of Equity Raise Further to the announcements made on 14 March 2014 and 22 April 2014 inrelation to a capital raise targeting gross proceeds of c.£42m and theacquisition of Scape Greenwich, the Board has today resolved to proceed with anopen offer, placing and offer for subscription at an issue price of 105.5 penceper new ordinary share. The mid-market price per ordinary share as at close ofbusiness on 25 April 2014 was 106.75 pence. Shareholders will be offered the opportunity to participate in a pre-emptiveopen offer on the basis of one new ordinary share for every two ordinary sharesheld by shareholders as at the record date which is currently expected to be onor around 29 April 2014. The balance of any new shares to be issued will bemade available under the placing and offer for subscription, with prioritygiven to shareholders on the register as at the record date. Expected Timetable* 2014 30 April Prospectus published and posted to shareholders 16 May Latest time and date for receipt of completed application forms and payment in full under the open offer or settlement of relevant CREST instruction 19 May Close of placing and offer for subscription 27 May Dealings commence in new ordinary shares * Subject to the approval of the Channel Islands Securities Exchange AuthorityLimited and the UK Listing Authority. The above dates are subject to change. 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]