This $25.8 million project is being financed through EdR’s On-Campus Equity Plan — the ONE Plan SM — which uses the company’s equity and financial stability to fund projects on university-owned land. This gives the university access to a single, trusted partner and helps create substantial long-term financial benefits for UK and EdR.“We are more excited with every step we take forward in our partnership with the University of Kentucky,” said Randy Churchey, EdR president and chief executive officer. “EdR is proud to support the university in such an innovative and important endeavor.” Sherman Carter Barnhart and Messer Construction Co., both of Lexington, Ky., were selected as the architect of record and general contractor, respectively, for this first phase of the project. UK and EdR are currently in discussions regarding Phase II. In that phase, EdR will assume management responsibility for the university’s 6,000-bed housing portfolio. Phase II also envisions the systematic demolition and replacement of the majority of current on-campus housing as well as its expansion to approximately 9,000 beds over the next five to seven years. In support of Phase II, the Kentucky legislature recently authorized the next $175 million for 2014 and 2015 deliverables in this public-private partnership which will transform living and learning space to maximize the talent and capacity of UK and its students. This amount is in addition to the previously approved $52 million. “This authorization is a clear indication of the university’s intent to aggressively pursue this major revitalization of its student housing,” said Tom Trubiana, EdR’s executive vice president and chief investment officer. About EdR EdR (NYSE:EDR) is one of America's largest owners, developers and managers of collegiate housing. A self-administered and self-managed real estate investment trust, EdR owns or manages 60 communities in 23 states with more than 34,100 beds within more than 11,100 units. For more information, please visit the company's web site at www.EdRtrust.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 Statements about the company's business that are not historical facts are "forward-looking statements." Forward-looking statements are based on current expectations. You should not rely on our forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the company's future results, performance, or achievements to differ significantly from the results, performance, or achievements expressed or implied by such statements. Such risks are set forth under the captions "Item 1A. Risk Factors" and "Forward-Looking Statements" in our annual report on Form 10-K and under the caption "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" (or similar captions) in our quarterly reports on Form 10-Q, and as described in our other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the dates on which they are made, and the company undertakes no obligation to update publicly or revise any guidance or other forward-looking statement, whether as a result of new information, future developments, or otherwise.