Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES i

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

EMPIRIC STUDENT PROPERTY PLC

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 the acquisition 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):

IPO

x

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

EAST RIDING OF YORKSHIRE COUNCIL

4. Full name of shareholder(s)

(if different from 3.): iv

STATE STREET NOMINEES LIMITED

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

26 JUNE 2014

6. Date on which issuer notified:

26 AUGUST 2014

7. Threshold(s) that is/are crossed or

reached: vi, vii

17%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

ORDINARY

GB00BLWDVR75

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

0

NumberofVotingRights

0

Numberof shares

Number of votingrights

% of voting rights x

Direct

15,000,000

Direct xi

15,000,000

Indirect xi

N/A

Direct

17.6%

Indirect

N/A

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/ConversionPeriod xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

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

Resulting situation after the triggering transaction

Type of financialinstrument

Exerciseprice

Expirationdate xvii

Exercise/Conversionperiod xviii

Number of votingrights instrumentrefers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

 15,000,000

 17.6%

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

N/A

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:

CALCULATION BASED ON 85 MILLION SHARES IN ISSUE

14. Contact name:

 JOANNA NOTTINGHAM

15. Contact telephone number:

 01482 394149