Proposed CISEA Delisting

GCP Student Living plc (the "Company") Application for cancellation of listing of Ordinary Shares on the Official Listof the Channel Islands Securities Exchange Authority Limited The Board of the Company wishes to announce that it has applied to the ChannelIslands Securities Exchange Authority Limited ("CISEA") for the cancellation ofthe listing of the Company's ordinary shares on the Official List of the CISEA. The Company currently operates with a dual listing of its ordinary shares onboth the Specialist Fund Market of the London Stock Exchange ("SFM") and theOfficial List of the CISEA. Prior to 5 August 2013, for shares to be qualifyinginvestments for ISA purposes they had to be officially listed on a recognisedstock exchange. However, with effect from 5 August 2013, shares can bequalifying investments for ISA purposes if the shares are, in the EuropeanEconomic Area, admitted to trading on a recognised stock exchange. At the dateof the Company's IPO, shares admitted to trading on the SFM would not have beenqualifying investments for ISA purposes and therefore a listing on the OfficialList of the CISEA was required to ensure ISA eligibility of the Company'sordinary shares for investors. With effect from 5 August 2013, as a result ofamendments made to the ISA regulations, ISA investors can now invest in sharesadmitted to trading only on the SFM. Accordingly, and following consultation with the Company's legal and financialadvisers, the Board has decided that it is no longer in the interests ofshareholders for the Company to retain a listing of its ordinary shares on theOfficial List of the CISEA, taking into account the ongoing costs of suchlisting. The Company's ordinary shares will continue to trade on the SFM. In accordance with the procedures of the CISEA, a minimum of 20 business days'notice must be given by the Company in respect of the cancellation of thelisting, and the Board anticipates that the delisting from the Official List ofthe CISEA will take effect at 7 a.m. on 10 October 2014. 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 was 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 5th 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 third asset, Scape Greenwich, is a purpose-built, private studentaccommodation residence located in a prime London student residential locationwithin 30 minutes of c.75% of London's Higher Education Institutions ("HEI")and in close proximity to Ravensbourne College, a leading specialist digitalmedia HEI, and the University of Greenwich. 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.