Millennial Media Closes Follow-on Offering

  Millennial Media Closes Follow-on Offering

Business Wire

BALTIMORE -- October 30, 2012

Millennial Media, Inc. (NYSE: MM) today announced that it has closed its
previously announced follow-on offering of shares of its common stock and that
the underwriters have exercised their option to purchase an additional
1,500,000 shares of common stock. As a result, the total follow-on offering
size was 11,500,000 shares, which consisted of 921,952 shares sold by
Millennial Media and 10,578,048 shares sold by selling stockholders. The net
proceeds to Millennial Media from its sale of 921,952 shares were
approximately $12.4 million after deducting underwriting discounts and
commissions. Millennial Media did not receive any proceeds from the sale of
shares by the selling stockholders.

Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and Barclays Capital Inc. are
serving as joint book-running managers for the offering, with Allen & Company
LLC, Stifel Nicolaus Weisel, Canaccord Genuity Inc. and Oppenheimer & Co.
acting as co-managers.

A prospectus for the offering, when available, may be obtained from: Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, New York 10014, or by email at prospectus@morganstanley.com
or by phone at (866) 718- 1649; Goldman, Sachs & Co., Attention: Prospectus
Department, 200 West Street, New York, New York 10282, or by e-mail at
prospectus-ny@ny.email.gs.com or by phone at (866) 471-2526; or Barclays
Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by email at barclaysprospectus@broadridge.com or
by phone at (888) 603-5874.

A registration statement relating to shares of the common stock of Millennial
Media, Inc. has been declared effective by the Securities and Exchange
Commission. 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 Millennial Media

Millennial Media is the leading independent mobile advertising platform
company. Our technology, tools and services help app developers and mobile
website publishers to maximize their advertising revenue, acquire users for
their apps and gain insight about their users. We offer advertisers
significant audience reach, sophisticated targeting capabilities and the
ability to deliver rich and engaging ad experiences to consumers on their
mobile connected devices.

Contact:

Millennial Media, Inc.
Investor Relations:
Jonathan Schaffer, 212-871-3953
IR@millennialmedia.com
Media Relations:
Matthew Lindberg, 203-682-8214
press@millennialmedia.com
 
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