George Washington University Selects BbOne(SM) to Manage Off-Campus Merchant Network

December 8, 2004

WASHINGTON, Dec. 8 /PRNewswire-FirstCall/ — Blackboard Inc. (Nasdaq: BBBB) announced today that The George Washington (GW) University will license Blackboard’s BbOne(SM) system to enable students to make safe, secure, cashless transactions off campus through their student identification (ID) cards. George Washington University, which already licenses the Blackboard Transaction System(TM), opted to move its self-operated off-campus merchant program to BbOne. This will help GW to expand the number of merchants on the system and offer consistent and reliable merchant support 24 hours a day, seven days a week. GW students can currently use their ID cards at more than 50 off-campus merchants. In addition to converting the existing merchants to BbOne, Blackboard will also address a growing list of new businesses that have expressed interest in joining the GWorld Card Program network, the existing program at the school.

“This is yet another step for GW in our continuing strategic partnership with Blackboard,” said Executive Vice President and Treasurer Louis Katz. “With this agreement, GW joins a growing list of colleges and universities nationwide who have turned to Blackboard to perform back office card settlement activities. GW’s goal is to offer the best choices to the students and outsourcing these administrative tasks will allow GW to focus our efforts on marketing and refining the Colonial Cash and the GWorld Card Program. It’s a win-win all around; for our students who will enjoy a more diverse mix of services and retail choices and for our merchants who will receive daily automated funds settlement and dedicated 24-hour support.”

“We are delighted to help George Washington University grow its network of off campus merchants and offer new, expanded benefits to its students, faculty and community,” said Michael Chasen, CEO of Blackboard. “We applaud GW for establishing a successful off-campus merchant program on their own and look forward to enhancing their network. BbOne has developed an expertise in efficiently managing off-campus university merchant programs. GW’s conversion to BbOne from a self-operated network shows the high value this service brings to Blackboard Transaction System clients.”

BbOne is part of the Blackboard Commerce Suite(TM), a package of three enterprise software applications supporting cashless transactions on-campus, off-campus and online and allowing for identification and security access. By utilizing an existing student debit account at the university, BbOne provides students with a safe, secure, cashless and convenient way to make transactions on- and off-campus, while assuring parents that their funds will be spent within a university approved merchant network.

About Blackboard Inc.
Blackboard is a leading provider of enterprise software applications and related 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.

Any statements in this press release about future expectations, plans and prospects for Blackboard and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the factors discussed in the “Risk Factors” section of our most recent 10-Q filed with the SEC. In addition, the forward-looking statements included in this press release represent the Company’s views as of December 8, 2004. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to December 8, 2004.
Melissa Chotiner
Public Relations Manager of Blackboard Inc.
+1-202-463-4860 ext. 2404

Stacey Finkel of DBC Public Relations
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