N@N

CHARLOTTE, N.C.--([ BUSINESS WIRE ])--Campus Crest Communities, Inc. (NYSE:CCG), a leading developer, builder, owner and manager of high-quality, purpose-built student housing today announced that its Board of Directors declared its first quarter 2012 dividend of $0.16 per common share and operating partnership unit. The dividend is payable on April 11, 2012, to shareholders of record on March 28, 2012.

The Board of Directors also declared a cash dividend of $0.3722 per Series A Cumulative Redeemable Preferred Share for the first quarter of 2012. The preferred share dividend is payable on April 16, 2012, to shareholders of record on March 28, 2012. The dividend represents the pro-rated dividend for the period from the issuance date of the Series A Preferred Shares through April 15, 2012, based on a quarterly dividend of $0.50 per share.

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 close to campuses 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 brand. Campus Crest Communities owns interests in 33 student housing properties containing approximately 6,324 apartment units and 17,064 beds and boasts the youngest standardized portfolio in the industry. Since its inception, the Company has focused on customer service, privacy, on-site amenities and its proprietary residence life programs to provide college students across the USA with a higher quality of living. Additional information can be found on the Company's website at [ http://www.campuscrest.com ].