Campus Crest Communities announced final leasing results for the 2011-2012 academic year, with occupancy up 270 basis points and rental rates up 280 basis points over the previous year. They completed six new student housing developments, totaling 1,276 units and 3,484 beds, on time and on budget. The company increased occupancy in wholly owned properties to 91.2% and joint venture properties to 91.1%, and saw rental rate increases of 2.8% and 4.9% respectively. Campus Crest also broke ground on two new developments in Auburn, AL and Orono, ME for the 2012-2013 school year.

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NEWS RELEASE
Campus Crest Communities Announces Final Leasing Results for 2011/2012 Academic Year
-Increases Occupancy by 270 Basis Points and Rental Rate by 280 Basis Points Year over Year for Wholly Owned Properties-
-Delivers Six New Development Properties-
CHARLOTTE, N.C., Oct 11, 2011 (BUSINESS WIRE) -- Campus Crest Communities, Inc. (NYSE:CCG), a leading developer, builder, owner and manager of high-quality, purpose-built
student housing under The Grove(R) brand, today announced its final leasing results for the 2011/2012 academic year. The Company also announced that its six new developments were
completed within budget and have opened for the 2011/2012 academic year.
As of September 30, 2011, the Company's portfolio leasing status was as follows:
2011/2012 2010/2011 Rental
Leases Leases Rate(1)
Units Beds Signed % Signed % % Increase
Wholly-Owned Properties 3,920 10,528 9,605 91.2% 9,317 88.5% 2.8%
Joint Venture Properties 1,128 3,052 2,781 91.1% 2,719 89.1% 4.9%
All Operating Properties 5,048 13,580 12,386 91.2% 12,036 88.6% 3.2%
New Developments 1,276 3,484 2,770 79.5% n/a n/a n/a
Total Portfolio 6,324 17,064 15,156 88.8% 12,036 88.6% 3.2%
1 Average effective rate for 2011/2012 compared to the average rate achieved in 2010/2011
Campus Crest Co-Chairman and Chief Executive Officer Ted Rollins remarked, "I am pleased to announce that we have increased both rate and occupancy meaningfully year over year
due to continued improvements in systems and people within our organization. Our rental rate increases were higher than we had previously expected and we continue to drive margin
expansion as we achieve ongoing efficiencies. We are also proud to announce our six new properties have opened. With the start of the 2011/2012 academic year, our residents have
moved in and are beginning to experience our amenities and proprietary SCORES residence life programming. Our Company continues to improve daily and our teams are dedicated to
being the best in the business. We remain focused on delivering on our promise to provide a great product and service to our residents, to be a responsible partner to the communities we
serve and to create long-term value for our shareholders."
As previously announced, the new developments include four wholly-owned and two joint venture properties. The details of these properties are as follows:
Project University Served Units Beds
The Grove at Ft. Wayne Indiana-Purdue University Ft. Wayne 204 540
The Grove at Clarksville Austin Peay State University 208 560
The Grove at Ames Iowa State University 216 584
The Grove at Columbia University of Missouri 216 632
Sub-Total Wholly Owned 844 2,316
The Grove at Valdosta Valdosta State University 216 584
The Grove at Denton University of North Texas 216 584
Sub-Total Joint Venture 432 1,168
Total Deliveries 1,276 3,484
Additionally, as previously announced, the Company has broken ground on two development properties under construction for delivery in the 2012/2013 academic year. The Company is
developing wholly-owned properties at Auburn University in Auburn, Alabama and The University of Maine in Orono, Maine, with total estimated project costs of $51.6 million. The Auburn
property will have 216 units with 600 beds and will be located adjacent to the on-campus Greek housing, and the Orono property will have 188 units with 620 beds and will be located 0.5
miles from the University. The Company will release information on the remainder of the planned developments for the 2012/2013 academic year during the fourth quarter.
About Campus Crest Communities, Inc.
Campus Crest Communities, Inc. (NYSE: CCG) is a leading developer, builder, owner and manager of high-quality, purpose-built student housing properties located in targeted U.S.
markets. The Company is a self-managed, self-administered and vertically-integrated real estate investment trust which operates all of its properties under The Grove(R) brand. Campus
Crest Communities owns interests in 33 student housing properties containing approximately 6,324 apartment units and 17,064 beds. Since its inception, the Company has focused on
customer service, privacy, on-site amenities and other lifestyle considerations to provide college students with a higher standard of living. Additional information can be found on the
Company's website at http://www.campuscrest.com.

2. Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by
the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposed of complying with these
safe harbor provisions. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning
matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects,"
"intends," "plans," "anticipates," "believes," "estimates," "predicts" or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate
future events or trends and which do not relate solely to historical matters. Forward-looking statements in this press release include, among others, statements about outlook for FFO,
growth opportunities and long term value creation. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties, assumptions and
contingencies, many of which are beyond the Company's control that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-
looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, except as otherwise required
by federal securities laws, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new
information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any
forward-looking statements, see the risk factors discussed in the Company's most recent Annual Report on Form 10-K, as updated in the Company's Quarterly Reports on Form 10-Q.
SOURCE: Campus Crest Communities, Inc.
Campus Crest Communities, Inc.
Investor Relations
704-496-2581
Investor.Relations@CampusCrest.com