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Campus Crest Communities, Inc. Announces Exercise Of Underwriters’ Option And Subsequent Closing Of Common Stock Offering

Campus Crest Communities, Inc. (NYSE:CCG) (“CCG”) today announced it closed its previously announced underwritten public offering of 25,530,000 shares of its common stock, including 3,330,000 shares issued and sold pursuant to the full exercise of the underwriters’ option to purchase additional shares. The shares were issued at a public offering price of $12.25 per share, for net proceeds of approximately $299.9 million, after deducting the underwriting discount and other net estimated offering costs.

CCG intends to use the net proceeds from this offering to fund the investment in the Copper Beech Townhome Communities’ portfolio and related transactional costs. Any remaining net proceeds will be used for general corporate purposes, including the repayment of debt. Raymond James, Barclays, Citigroup, BofA Merrill Lynch and RBC Capital Markets served as joint book-running managers for the offering. Baird and MLV & Co served as co-managers for the offering.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

Copies of the preliminary prospectus supplement, final prospectus supplement and the related base prospectus may be obtained by contacting: (a) Raymond James, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by calling toll-free at 1-800-248-8863, or emailing prospectus@raymondjames.com; or (b) Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling 1-888-603-5847 or emailing barclaysprospectus@broadridge.com; or (c) or the Internet site of the Securities and Exchange Commission at http://www.sec.gov.

About Campus Crest Communities, Inc.

Campus Crest Communities, Inc. is a leading developer, builder, owner and manager of high-quality, residence life focused student housing properties located close to college campuses in targeted U.S. markets. CCG is a self-managed, self-administered and vertically-integrated real estate investment trust which operates all of its properties under The Grove® brand. CCG owns interests in 39 operating student housing properties containing approximately 20,884 beds. CCG plans to deliver six projects containing approximately 3,564 beds in the third quarter of 2013. Additionally, CCG is developing a 33-story student housing tower in Philadelphia, PA containing approximately 850 beds for delivery in the third quarter of 2014. Since its inception, CCG has focused on customer service, privacy, on-site amenities and its proprietary residence life programs to provide college students across the United States with a higher quality of living.

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