Jeffrey Housenbold, President & CEO of Shutterfly,
Rings The NASDAQ Stock Market Opening Bell

Thursday, September 28, 2006
at NASDAQ's MarketSite
in New York City.

Shutterfly
[SFLY]

Jeffrey Housenbold, President & CEO of Shutterfly, presides over the opening bell to celebrate the company's initial public offering on the NASDAQ.

Founded in 1999, Shutterfly, Inc. (www.shutterfly.com) is an Internet-based social expression and personal publishing service. Shutterfly provides a range of products and services that make it easy, convenient and fun for consumers to upload, edit, enhance, organize, find, share, create, print and preserve their digital photos in a creative and thoughtful manner. Shutterfly and Shutterfly.com are trademarks of Shutterfly, Inc.

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Click for larger pictures of the NASDAQ MarketSite. Additional Photographs for 9/28/2006 Download Hi-Res Quality Photo of this NASDAQ Market Open - Pictured: Jeffrey Housenbold, President & CEO of Shutterfly, rings the Opening Bell These photos are Copyright 2006, The Nasdaq Stock Market Inc. and available for re-publication by the news media only. Any commercial use is strictly prohibited without the prior written consent of The Nasdaq Stock Market Inc. © Copyright 2006, The NASDAQ Stock Market, Inc. Reprinted with the permission of The Nasdaq Stock Market, Inc.