Unite Regulatory News (UTG)

THE UNITE GROUP PLC

("UNITE", the "Group", or the "Company")

VALUATION OF THE UNITE UK STUDENT ACCOMMODATION FUND

AS AT 31 MARCH 2014

Continued rental growth and stable valuation yields across the portfolio

The UNITE Group, the UK's leading manager and developer of student accommodation, today reports the estimated net asset value* ("NAV") of the UNITE UK Student Accommodation Fund (the "Fund", "USAF") as at 31 March 2014.

The value of the Fund increased to £853.6 million (31 December 2013: £727.2  million) as a result of an underlying increase in value of 2.8% together with the impact of the £106 million of new capital that was raised in March.

The principal components of the underlying movement in NAV are as follows:

In arriving at the value of the Fund, USAF's property portfolio, comprising 21,673 beds in 59 properties across 19 UK towns and cities, was independently valued at £1,362 million (31 December 2013 £1,355 million), representing an increase of 0.5% driven mainly by rental growth. The portfolio is now valued at an average yield of 6.63% at 31 March 2014 (31 December 2013: 6.64%).

Commenting on the Fund's valuation, Joe Lister, UNITE's Chief Financial Officer, said:

"USAF's positive performance in the first quarter of 2014 reflects the continuing rental growth and stable valuation yields across the portfolio. Reservations across USAF's properties for the academic year starting in September 2014 stand at 61%, well ahead of the 56% at the same point in 2013. In line with previous guidance, we expect to deliver total rental growth of around 3% across UNITE's total managed portfolio in 2014."

ENDS

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About UNITE

UNITE is the UK's leading manager and developer of student accommodation. We provide a home for 41,000 students in over 120 purpose built properties across 23 of the UK's strongest university towns and cities. We have nearly 1,000 employees and work in partnership with over 50 higher education providers, as well as renting rooms directly to students. In May 2013 UNITE was awarded Student Accommodation Provider of the Year at Property Week's RESI Awards.

Our culturally-diverse customers are at the heart of our business and we aim to provide a home for students that supports their success, whether defined as academic achievement, personal growth or employability. Our properties provide high quality, well-located, safe accommodation that is close to university campuses, transport and local amenities. Our rent includes a study bedroom, all bills, insurance, 24-hour security and high speed Wi-Fi throughout our buildings.

Founded in 1991, UNITE is a FTSE 250 company listed on the London Stock Exchange. We are pursuing a sustainable growth strategy designed to make the most of the resilient nature of the student accommodation sector. We aim to maintain the strongest brand in the sector and operate the highest quality portfolio through consistent investment in and improvement to our operating platform, highly selective development activity, asset management initiatives and portfolio recycling.

In addition to our wholly owned properties, we are also invested in and operate a small number of specialist funds and joint ventures with institutional investment partners, the largest of which is the £1.36 billion UNITE UK Student Accommodation Fund (USAF).

The Group's charitable trust, the UNITE Foundation, supports widening access to higher education, integrating students into the community and employability. It provides scholarships for disadvantaged students at seven universities and volunteering opportunities for our students and employees through partner organisations.

For more information visit our corporate website: www.unite-group.co.uk or www.unite-students.com.