Quarterly Valuation

Unite Group PLC
03 April 2007

3 April 2007



FIRST QUARTERLY VALUATION OF THE UNITE UK STUDENT ACCOMMODATION FUND - 7.0% RISE



The UNITE Group plc ('UNITE') today reports the Estimated Net Asset Value* as at
31 March 2007 of its recently formed UNITE UK Student Accommodation Fund  (the
'Fund'). The Fund, which is invested solely in direct let student  
accommodation, was launched on 15 December 2006 and UNITE acts as its manager as
well as retaining a co-investment stake.

The Fund's Estimated Net Asset Value at 31 March 2007 was £1.011 per unit (31
December 2006: £0.945 per unit), representing an increase of 7.0% over the
quarter. In arriving at a value for units in the Fund, the Fund's property
portfolio was independently valued at £516.8 million as at 31 March 2007,
representing an underlying increase in value over the quarter of 2.4%.

At the time of reporting UNITE's stake in the Fund was 36% although, in line
with its strategy stated at the time the Fund was launched, UNITE intends to
dilute its holding over the coming months to approximately 30%. In this regard,
UNITE is currently in advanced discussions with other investors who have made
non-binding indications of interest to invest in the Fund. Any such investments
would be in part through the acquisition of units from UNITE and in part through
subscribing for additional equity in the Fund.

Commenting on the quarterly valuation, Mark Allan, UNITE's Chief Executive said:

'We continue to see strong investor appetite for direct let student
accommodation and, following a very successful launch late last year, this has
helped drive improved valuations and demand for further investment in the UNITE
UK Student Accommodation Fund.'


Notes:
*Estimated Net Asset Value excludes any non-capital profits accrued during the
quarter.





ENDS

Enquiries:

UNITE
Tony Harris, Chief Financial Officer                          0117 302 7004
Mark Allan, Chief Executive                                   0117 302 7004

Financial Dynamics
Stephanie Highett / Dido Laurimore                            020 7831 3113



Notes to editors:

•    UNITE successfully launched the £1 billion UNITE UK Student Accommodation
     Fund in December 2006. The Fund was seeded with 31 direct let student
     accommodation properties with a market value in excess of £500 million.

•    UNITE is the UK's leading student hospitality company. Listed in the FTSE 
     250 index of the London Stock Exchange and managing a property portfolio of 
     £1.6 billion located across the UK, the Group focuses on the provision and      
     management of high quality, well-located student accommodation and 
     hospitality services in strong higher education markets.

•    UNITE delivers the real student experience, whilst at the same time helping 
     to regenerate cities as part of the community and contributing to the 
     improvement of the country's housing. It undertakes the planning, 
     development and management of sites, often working closely with the 
     universities and colleges, to deliver accommodation for students across all 
     ages and nationalities. UNITE developments typically show high occupancy 
     levels and robust rental growth as demand continues to rise for places in 
     UK Higher Education and for safe, high quality accommodation for students.


Further information on UNITE is available at www.unite-group.co.uk



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