American Campus Communities Announces Quarterly Dividend

American Campus Communities, Inc. (NYSE:ACC), one of the nation’s largest owners, managers and developers of high-quality student housing properties, announced today that its board of directors has declared a regular quarterly dividend of $0.3375 per share of common stock, payable on September 4, 2007, to shareholders of record at the close of business on August 23, 2007.

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 43 high-quality student housing communities containing approximately 26,900 beds. Including its owned properties, the company provides management and leasing services at a total of 56 properties, representing approximately 35,600 beds located on or near college and university campuses. Additional information is available at www.americancampuscommunities.com.

Contacts

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