On September 15, 2011, the Board of Directors of Expedia, Inc. (“Expedia” or the “Company”) accepted the resignation of Michael B. Adler as the Company’s Chief Financial Officer and approved the appointment of Mark D. Okerstrom as Executive Vice President and Chief Financial Officer, each effective as of September 26, 2011. The Company had previously announced Mr. Adler’s intention to resign as Chief Financial Officer and Mr. Okerstrom’s selection as his successor.