Crises are inevitable in today's corporate world. This paper outlines a crisis leadership exercise to help business students understand the complexities of external corporate communications. This exercise is suited to class sizes of approximately 30 students, but variations can be used for larger classes. Students are placed into groups and use a playbook to help them navigate a real-life crisis. Students then use the playbook to deliver a simulated press conference. A mixed-methods study was used to investigate the learning experience, and the findings showed that students not only improved significantly in their ability to lead external corporate communications, but also in their understanding of key crisis leadership concepts.