Blackboard Inc. Announces Pricing of Initial Public Offering of Common Stock WASHINGTON, June 18 /PRNewswire-FirstCall/ -- Blackboard Inc. (NASDAQ:BBBB) announced today that its initial public offering of 5,500,000 shares of common stock has been priced at $14.00 per share. Blackboard has agreed to sell 3,650,000 shares, and its selling stockholders have agreed to sell 1,850,000 shares. In addition, Blackboard and its selling stockholders have granted the underwriters an option to purchase up to an additional 825,000 shares to cover over-allotments, if any, of which the first 401,062 shares would be sold by the selling stockholders and the remaining 423,938 shares would be sold by Blackboard. Blackboard will not receive any of the proceeds from the shares of common stock sold by its selling stockholders. The common stock will be quoted on the NASDAQ National Market under the symbol "BBBB" and is expected to begin trading today. Credit Suisse First Boston LLC acted as lead manager for the offering and the co-managers were Banc of America Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Thomas Weisel Partners LLC. A copy of the final prospectus related to this offering may be obtained from: Credit Suisse First Boston LLC Prospectus Department One Madison Avenue New York, NY 10010 Telephone (212) 325-2580 This press release shall not constitute an offer to sell or a solicitation of an offer to buy, and there shall not be any sale of these 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 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 Stanton of Blackboard, +1-866-774-4720; or Kris Coratti of DBC Public Relations Experts, +1-866-774-4720, for Blackboard Web site: http://blackboard.com/

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