Due to an administrative error upon receipt, this notification was not received                     
    by the Company until 27 May 2015.                                                                   
                                                                                                        
    TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi                                                     
                                                                                                        
    1. Identity of the issuer or the underlying issuer                 GCP Student Living plc           
    of existing shares to which voting rights are                                                       
    attached: ii                                                                                        
                                                                                                        
    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):                                                                                           
                                                                                                        
    3. Full name of person(s) subject to the        Henderson Global Investors                          
    notification obligation: iii                                                                        
                                                                                                        
    4. Full name of shareholder(s)                                                                      
     (if different from 3.):iv                                                                          
                                                                                                        
    5. Date of the transaction and date on          11 December 2014                                    
    which the threshold is crossed or                                                                   
    reached: v                                                                                          
                                                                                                        
    6. Date on which issuer notified:               12 December 2014                                    
                                                                                                        
    7. Threshold(s) that is/are crossed or          Below 5%                                            
    reached: vi, vii                                                                                    
                                                                                                        

       

    8. Notified details:                                                                                 
                                                                                                         
    A: Voting rights attached to shares viii, ix                                                         
                                                                                                         
    Class/type of    Situation previous         Resulting situation after the triggering transaction     
    shares           to the triggering                                                                   
                     transaction                                                                         
                                                                                                         
    if possible      Number       Number        Number     Number of voting      % of  voting rights x   
    using            of           of            of shares  rights                                        
    the ISIN CODE    Shares       Voting                                                                 
                                  Rights        Direct     Direct xi  Indirect   Direct       Indirect   
                                                                      xii                                
                                                                                                         
    GBP0.01          9,947,500    9,947,500                           Below 5%                Below 5%   
                                                                                                         
    GB00B8460Z43                                                                                         
                                                                                                         
    B: Qualifying Financial Instruments                                                                  
                                                                                                         
    Resulting situation after the triggering transaction                                                 
                                                                                                         
    Type of financial       Expiration  Exercise/              Number of voting        % of voting       
    instrument              date xiii   Conversion Period xiv  rights that may be      rights            
                                                               acquired if the                           
                                                               instrument is                             
                                                               exercised/ converted.                     
                                                                                                         
    C: Financial Instruments with similar economic effect to Qualifying Financial                        
    Instruments xv, xvi                                                                                  
                                                                                                         
    Resulting situation after the triggering transaction                                                 
                                                                                                         
    Type of financial  Exercise   Expiration  Exercise/    Number of voting rights   % of voting rights  
    instrument         price      date xvii   Conversion   instrument refers to      xix, xx             
                                              period xviii                                               
                                                                                                         
                                                                                     Nominal     Delta   
                                                                                                         
    Total (A+B+C)                                                                                        
                                                                                                         
    Number of voting rights          Percentage of voting rights                                         
                                                                                                         
    Below 5%                         Below 5%                                                            
                                                                                                         

       

    9. Chain of controlled undertakings through which the voting rights and/or the              
    financial instruments are effectively held, if applicable: xxi                              
                                                                                                
    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:                                                                 
                                                                                                
                                                                                                
    14. Contact name:                            Julia Condon                                   
                                                                                                
    15. Contact telephone number:                020 7818 5738