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Blackboard Announces $100 Million Share Repurchase Program

WASHINGTON March 1, 2011 $100 million

John Kinzer

Share repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable federal securities laws, including Rule 10b-18 of the Exchange Act of 1934. While the board of directors has approved the share purchasing guidelines, the timing of repurchases and the exact number of shares of common stock to be purchased will be determined by the Company’s management, at its discretion, and will depend upon market conditions and other factors.

Michael Chasen

About Blackboard Inc.

Washington, D.C. North America Europe Asia Australia

February 18, 2011 March 1, 2011 March 1, 2011

SOURCE Blackboard Inc.

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