Dividend Declaration

8 October 2015

Empiric Student Property plc

("Empiric" or the "Company" or, together with its subsidiaries, the "Group")

Dividend declaration

The Board of Empiric Student Property plc (ticker: ESP) has declared a first interim dividend for the financial year ending 30 June 2016 of 1.5 pence per Ordinary Share in respect of the quarter ended 30 September 2015, payable on or around 4 November 2015 to Ordinary Shareholders on the register on 16 October 2015. The ex-dividend date will be 15 October 2015.

0.725 pence of this dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax exempt property rental business and 0.775 pence will be paid as an ordinary UK dividend ("non-PID").

The Company confirms an annual dividend target of at least 6 pence per Ordinary Share for the financial year commencing 1 July 2015. Thereafter, dividends are expected to grow by not less than the RPI inflation index (1).

Note:

(1) The target dividends stated above are targets only and not profit forecasts. There can be no assurance that these targets will be met and they should not be taken as an indication of the Company's expected or actual future results. Potential investors should not place any reliance on these targets.

For further information on the Company, please contact:

Further information on Empiric can be found on the Company's website at www.empiric.co.uk.

Notes:

Empiric Student Property plc (incorporated in England & Wales) is an internally managed real estate investment trust ("REIT") investing in modern, direct-let, premium, student accommodation, both standing and development assets, with a focus on quality and with assets generally in prime central locations in top university cities and towns in the UK. The Company listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in June 2014.