GCP Student Living plc (the "Company")

    Total Voting Rights

    30 June 2015

    GCP Student Living plc, the UK's first REIT focused on student residential
    assets, is pleased to announce the commencement in dealings of its 120,000,000
    convertible redeemable preference shares ("C Shares") at 8:00 am today on the
    London Stock Exchange (Specialist Fund Market).

    In conformity with Disclosure and Transparency Rules, the Company notifies that
    following Admission, the issued share capital and voting rights of the Company
    are as follows:

    Class of share   Total number   Number of  Total number     Number of  Total number
                     of shares in      voting     of voting   shares held  of shares in
                      circulation      rights     rights of   in treasury         issue
                                  attached to     shares in  (carrying no              
                                   each share   circulation voting rights              
                                                                 attached              
                                                            until issued)              
                                                                                       
    Ordinary                                                                           
    Shares of 1p      109,910,428           1   109,910,428             0   109,910,428
                                                                                       
    C Shares of 1p    120,000,000           0             0             0   120,000,000

    The above total voting rights figure may be used by shareholders as the
    denominator for the calculations by which they will determine whether they are
    required to notify their interest in GCP Student Living plc under the FCA's
    Disclosure and Transparency Rules.

    For further information, please contact:

    Gravis Capital Partners LLP

    Tom Ward           tom.ward@gcpuk.com        020 7518 1496            

    Cenkos Securities plc

    Dion Di Miceli     ddimiceli@cenkos.com       020 7397 1921            
                                                                           
    Tom Scrivens       tscrivens@cenkos.com       020 7397 1915            

    Buchanan

    Charles Ryland     charlesr@buchanan.uk.com   +44 (0)20 7466 5000      
                                                                           
    Vicky Watkins      victoriaw@buchanan.uk.com