July 5, 2011

HomeAway Announces Closing of Initial Public Offering and Exercise of Option to Purchase Additional Shares

AUSTIN, Texas, July 5, 2011 /PRNewswire/ -- HomeAway, Inc. (NASDAQ: AWAY) announced today that it has closed its previously announced initial public offering of shares of its common stock and that the underwriters have fully exercised their option to purchase 1,200,000 additional shares of common stock from selling stockholders. HomeAway® sold 5,931,335 shares, resulting in net proceeds to HomeAway of approximately $148.9 million after deducting underwriting discounts and commissions, and selling stockholders sold 3,268,665 shares, including 1,200,000 shares, as a result of the underwriters' exercise of their option to purchase additional shares, resulting in net proceeds to the selling stockholders of approximately $82.1 million after deducting underwriting discounts and commissions, for total proceeds from the offering of $231.0 million.

Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC are serving as joint book-running managers for the offering, with Stifel Nicolaus Weisel and Pacific Crest Securities LLC acting as co-managers.

The offering will be made only by means of a prospectus.  A copy of the prospectus may be obtained from:  Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by email at prospectus@morganstanley.com, or by phone at (866) 718-1649; Deutsche Bank Securities Inc., Attention: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, by email at prospectus.cpdg@db.com, or by phone at (800) 503-4611; Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10004, by email at prospectus-ny@ny.email.gs.com, or by phone at (212) 902-1171; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by phone at (866) 803-9204.

A registration statement relating to shares of the common stock of HomeAway, Inc. has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About HomeAway

Located in Austin, Texas, HomeAway, Inc. operates the world's largest online marketplace for the vacation rental industry.  The HomeAway marketplace brings together millions of travelers seeking vacation rentals online with hundreds of thousands of owners and managers of vacation rental properties located in over 145 countries around the world. HomeAway's websites include HomeAway.com, VRBO.com and VacationRentals.com in the United States; HomeAway.co.uk and OwnersDirect.co.uk in the United Kingdom; HomeAway.de in Germany; Abritel.fr and Homelidays.com in France; HomeAway.es in Spain; AlugueTemporada.com.br in Brazil and HomeAway.com.au in Australia.  In addition, HomeAway operates BedandBreakfast.com, a comprehensive global site for finding bed-and-breakfast properties, providing travelers with another source for unique lodging alternatives to chain hotels.

SOURCE HomeAway, Inc.

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