ACCAUSTIN, TX (REIT Media) April 25, 2008 - American Campus Communities, Inc. (NYSE:), one of the nation's largest owners, managers and developers of high-quality student housing properties, today announced that the company has been selected by Boise State University to begin the planning process for the development of an ACE project. This potential multi-phased project could ultimately result in a housing development containing approximately 2,000 beds.

Under the ACE transaction structure, American Campus invests its equity to own on-campus housing via a traditional long-term ground lease. This allows the university to increase its housing supply with modern, well-amenitized student housing under a credit-friendly structure, preserving the university’s credit capacity to fund academic and research facilities. Boise State University will be the second university to utilize the ACE program. The company’s first ACE transaction is at Arizona State University where the company is building three components of student housing totaling 5,000 beds.

“We are extremely excited about the opportunity to enter into a long-term partnership with Boise State University," said Bill Bayless, American Campus CEO. “The favorable credit treatment ASU has received from the rating agencies regarding our ACE developments serves as a catalyst for universities such as Boise State to choose the ACE program to fulfill their on-campus housing demand. We look forward to establishing the full scope of their new housing project and creating exceptional living and learning communities for the Boise State students.”

Boise State University is the largest institution in the Idaho system of higher education with a fall 2007 enrollment of 19,540 students. The project will be located on the University’s main campus, which currently houses 2,209 students and is occupied at full capacity.

About American Campus Communities, Inc.

American Campus Communities Inc. is one of the largest developers, owners and managers of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management, leasing and management of student housing properties. The company owns and manages a portfolio of 46 high-quality student housing communities containing approximately 29,300 beds. Including its owned properties, the company provides management and leasing services at a total of 66 properties, representing approximately 45,200 beds located on or near college and university campuses. Additional information is available at www.studenthousing.com.

Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

American Campus Communities, Inc.
Gina Cowart, 512-732-1000
Investor Relations