Qunar Announces Pricing of Initial Public Offering

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| Source: Qunar Cayman Islands Limited

BEIJING, Nov. 1, 2013 (GLOBE NEWSWIRE) -- Qunar Cayman Islands Limited ("Qunar" or the "Company") (QUNR), the leading search-based commerce platform for the Chinese travel industry, today announced the pricing of its initial public offering of 11,111,000 American depositary shares ("ADSs") at a public offering price of $15 per ADS, with a total offering size of $166.665 million, assuming the underwriters do not exercise their option to purchase additional ADSs. Each ADS represents three Class B ordinary shares of Qunar. The Company's ADSs are expected to begin trading on the NASDAQ Global Market on November 1, 2013, under the ticker symbol "QUNR."

The Company has also granted the underwriters an over-allotment option to purchase up to 1,666,650 ADSs within 30 days of today.

Goldman Sachs (Asia) L.L.C., Deutsche Bank Securities Inc. and Stifel are acting as joint book-runners of this offering. Pacific Crest Securities LLC and China Renaissance Securities (Hong Kong) Limited are acting as co-managers.

Qunar's registration statement relating to this offering has been filed with, and declared effective by, the Securities and Exchange Commission on October 31, 2013. Copies of the final prospectus may be obtained by contacting Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attention: Prospectus Department, phone: +1 (212) 902-1171, facsimile: +1 212-902-9316, e-mail: prospectus-ny@ny.email.gs.com; Deutsche Bank Securities Inc., Attention: Prospectus Department, 60 Wall Street New York, NY 10005, phone: +1 (800) 503-4611, email: prospectus.cpdg@db.com; or Stifel, Nicolaus & Company, Incorporated, Attn: Prospectus Department, One Montgomery Street, 36th Floor, San Francisco, CA 94104, phone: +1 (415) 364-2720, email: syndprospectus@stifel.com. Copies of the final prospectus may also be obtained at www.sec.gov or at the SEC's Public Reference facilities located at 100 F Street, N.E., Room 1580, Washington, D.C. 20549.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Qunar

Qunar Cayman Islands Limited is the leading search-based commerce platform for the travel industry in China. Qunar's goal is to empower Chinese travelers to define their travel experience. Founded in May 2005 and headquartered in Beijing, Qunar is committed to providing travelers with a one-stop travel information source on both PC and mobile devices. The Company enables travelers to find the best-value deals by aggregating and processing highly fragmented travel product information from tens of thousands of travel service providers into an organized and user-friendly display through its proprietary technology. According to research firm iResearch, Qunar has ranked Number 1 among all non-state-owned online travel companies in China in terms of monthly unique visitors since November 2010. Qunar's mobile application "Qunar Travel" was ranked the most frequently used mobile travel application in China by China Internet Network Information Center in September 2012.

Leveraging its large user base and advanced technologies, the Company provides an attractive value proposition to its customers, which include travel service providers and display advertisers.

Qunar means "where to go" in Mandarin Chinese.

Forward-looking Statements

This press release contains "forward-looking statements." These forward-looking statements relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "intend," "potential," "plan," "goal" or other words that convey the uncertainty of future events or outcomes. These forward-looking statements may include, but are not limited to, expectations concerning the commencement of trading of the Company's ADSs on the NASDAQ Global Market, the Company's ability to complete the offering and the concurrent private placements, the timing of the closing and the intended use of the net proceeds. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While the Company's management considers these expectations to be reasonable, they are inherently subject to risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control. Investors should not place undue reliance on these forward-looking statements.

CONTACT: For more information, please contact:
         
         Investor/Media Contact:
         Jenna Qian
         Tel: 8610 5760 3609
         ir@qunar.com / press@qunar.com