updated 4/19/2011 12:46:28 PM ET 2011-04-19T16:46:28

CAMBRIDGE, Mass., April 19, 2011 (GLOBE NEWSWIRE) -- Zipcar, Inc. (Nasdaq:ZIP), the world's leading car sharing network, today announced it closed its previously announced initial public offering of 11,136,726 shares of common stock, which includes all shares subject to the underwriters' option to purchase additional shares, at a public offering price of $18.00 per share. Zipcar sold 6,666,667 shares and selling stockholders sold the remaining 4,470,059 shares in the offering.

Goldman, Sachs & Co. and J.P. Morgan Securities LLC acted as the joint bookrunners for the offering. Cowen and Company, LLC, Needham & Company, LLC and Oppenheimer & Co. acted as co-managers.

A copy of the final prospectus for this offering may be obtained from: Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, via telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com ; or from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling toll-free at 1-866-803-9204.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission, or SEC. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov . 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 Zipcar

Zipcar is the world's leading car sharing network with more than 560,000 members and over 8,000 vehicles in urban areas and college campuses throughout the United States, Canada and the United Kingdom. Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day to residents and businesses looking for an alternative to the high costs and hassles of owning a car.

Zipcar and the Zipcar logo are trademarks of Zipcar, Inc. Other company and product names may be trademarks of their respective owners.


CONTACT: Investor Relations:
         Jonathan Schaffer
         The Blueshirt Group
         Phone: 212-871-3953
         Email: ir@zipcar.com
         Media Relations:
         Greg Winter, Vice President of Corporate Communications
         Phone: 617-336-4323
         Email: gwinter@zipcar.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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