February 23, 2014: Campus Crest Communities, Inc. Nominates James McCaughan to Board of Directors

The Campus Crest Communities, Inc. Nominating and Corporate Governance Committee (the “Governance Committee”) of the Board has recommended to the Board that James W. McCaughan be nominated for election to the Board at the Annual Meeting. Mr. McCaughan currently is a partner at New Phase Advisory Services, an advisory firm providing C-level advisory services to small and middle market companies. Prior to joining New Phase Advisory Services, from January 2008 to July 2013, Mr. McCaughan served as a senior vice president and chief financial officer of the United States operations of De Lage Landen Financial Services, a wholly owned subsidiary of Rabobank. Mr. McCaughan holds a Bachelor of Science in business administration from Villanova and a Master of Business Administration from St. Joseph’s University. The Board accepted the Governance Committee’s recommendation and plans to nominate Mr. McCaughan for election to the Board at the Annual Meeting with a term that will expire at the Company’s 2015 Annual Meeting of Stockholders and until his successor is duly elected and qualified. Based on its review of the relationships between Mr. McCaughan and the Company, the Board has affirmatively determined that, if elected, Mr. McCaughan would qualify as an independent director under the New York Stock Exchange listing standards and under applicable rules of the Securities and Exchange Commission. In addition, the Board has determined that, if elected, Mr. McCaughan would qualify as an “audit committee financial expert” as that term is defined in the applicable rules of the Securities and Exchange Commission.