Shutterfly Announces Departure of CFO Mark Rubash

REDWOOD CITY, Calif.--(BUSINESS WIRE)-- Shutterfly, Inc. (NASDAQ:SFLY), a leading Internet-based social expressionpersonal publishing service, today announces that Mark Rubash, senior vice presidentCFO will leave Shutterfly on February 24, 2012 to pursue a personal passion with an early stage medical technology company. PresidentCEO, Jeff HousenboldVice PresidentChief Accounting Officer, Brian Manca will assume Mark's responsibilities while the Company conducts an immediate search for a new CFO.

"We thank Mark for his contributions to Shutterflywish him well as he follows a personal interest in technologies that improve the quality of healthcare with an early stage, cardiovascular diagnostic services company," said Jeffrey Housenbold, presidentchief executive officer. "While we are saddened by Mark's departure, Shutterfly's talented bench of leaders will continue to execute against our strategy drive significant growthshareholder value through strategic focusstrong financial discipline."

Brian Manca is a five year veteran of Shutterfly's finance organization most recently served as Vice PresidentController. Prior to his roles at Shutterfly, Mr. Manca served nine years in various managerial positions at Deloitte & Touche LLP.

Mark Rubash will remain with the Company through the Company's year-end accounting closeannual audit processwill discuss Shutterfly's fourth quarterfull year 2011 financial results on its fiscal 2011 earnings conference call on February 1, 2012.

Notice Regarding Forward-Looking Statements

This press release includes certain forward-looking statements related to Shutterfly, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. These statements are based on management's current estimates, assumptions, expectations or beliefsare subject to uncertaintychanges in circumstances. These forward-looking statements are estimates reflecting the judgment of our senior managementactual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors,other risksuncertainties affecting the operation of the business of Shutterfly, Inc. For a listdescription of risksuncertainties which may cause actual results to vary from forward-looking statements, see our periodic filings with the at . All of Shutterfly's forward-looking statements, whether written or oral, are expressly qualified by this safe harbor statementany other cautionary statements that may accompany such forward-looking statements. Shutterfly is under no obligation to,expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

About Shutterfly

Founded in 1999, Shutterfly, Inc. is an Internet-based social expression personal publishing companyoperates , . Shutterfly provides high quality productsworld class services that make it easy, convenientfun for consumers to preserve their digital photos in a creativethoughtful manner. Shutterfly's line, which helps consumers celebrate memoriestell their stories in professionally bound coffee table books. Shutterfly was recently named one of the top 25 Best Midsized Companies to Work For by the Great Place to Work Institute. More information about Shutterfly.

Shutterfly, Inc.
Gretchen Sloan, 650-610-5276 (Media Relations)
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Michael Look, 650-610-5910 (Investor Relations)
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Source: Shutterfly, Inc.

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