BBBB Blackboard (MM)

Blackboard Executives Adopt 10b5-1 Trading Plans WASHINGTON, Feb. 11 /PRNewswire-FirstCall/ -- Blackboard Inc. (NASDAQ:BBBB) today announced that its co-founders, Michael Chasen, President and CEO, and Matthew Pittinsky, Chairman, as well as several other executives have established pre-arranged trading plans pursuant to Rule 10b5-1 of the Securities and Exchange Act of 1934 to sell shares of Company common stock subject to certain price restrictions. Under the plans, Messrs. Chasen and Pittinsky could each sell up to 110,000 shares of common stock during a one year period beginning in April 2005. Mr. Chasen commented, "While these plans are being adopted as part of certain executives' desires to diversify personal assets, I expect that we will all remain significant equity holders of the Company." Rule 10b5-1 permits the implementation of a written plan when insiders are not in possession of material non-public information to sell their securities on a regular basis, regardless of any subsequent material, non-public information they may receive or regularly scheduled Companywide blackout periods. Other Blackboard executives may from time to time adopt 10b5-1 plans to diversify their holdings in Blackboard. About Blackboard Inc. Blackboard is a leading provider of enterprise software and services to the education industry. The Company's product line consists of five software applications bundled in two suites, the Blackboard Academic Suite(TM) and the Blackboard Commerce Suite(TM). Blackboard's clients include colleges, universities, schools and other education providers, as well as textbook publishers and student-focused merchants that serve education providers and their students. Blackboard is headquartered in Washington, D.C., with offices and staff in North America, Europe and Asia. DATASOURCE: Blackboard Inc. CONTACT: Michael J. Stanton of Blackboard Inc., +1-202-463-4860 ext. 2305 Web site: http://www.blackboard.com/

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