Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES 1. Identity of the issuer or the underlying issuer GCP Student Living Plcof existing shares to which voting rights are attached: 2 Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights

YES

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

An acquisition or disposal of instruments with similar economic effect to NOqualifying financial instruments An event changing the breakdown of voting rights NO Other (please specify): NO 3. Full name of person(s) subject to the Cheviot Asset Management Ltdnotification obligation: 4. Full name of shareholder(s) (if different from 3.): 5. Date of the transaction and date onwhich the threshold is crossed or 22nd May 2013reached: 6. Date on which issuer notified:

23rd May 2013

7. Threshold(s) that is/are crossed or 5%reached: 8. Notified details: A: Voting rights attached to shares

Class/type Situation previous Resulting situation after the triggering transaction

of to the triggeringshares transaction if possible Number Number Number Number of voting % of voting rightsusing of of of shares rightsthe ISIN Shares VotingCODE Rights Direct Direct Indirect Direct Indirect GB00B8460Z43 3,599,600 3,599,600 3,660,700 3,660,700 0 5.22% 0(Ord GBP0.01shs ) B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of Expiration Exercise/ Number of voting % of votingfinancial date Conversion Period rights that may be rightsinstrument acquired if the instrument is exercised/ converted. N/A C: Financial Instruments with similar economic effect to Qualifying FinancialInstruments Resulting situation after the triggering transaction Type of Exercise price Expiration Exercise/ Number of voting rights % of voting rightsfinancial date Conversion instrument refers toinstrument period Nominal Delta N/A Total (A+B+C) Number of voting rights Percentage of voting rights 3,660,700 5.22%

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

Proxy Voting: 10. Name of the proxy holder: N/A 11. Number of voting rights proxy holder will cease N/Ato hold: 12. Date on which proxy holder will cease to hold N/Avoting rights: 13. Additional information: N/A 14. Contact name: Paul Hurrell 15. Contact telephone number: 020

7438 5709