Blackboard Launches Portfolio Product for Vista & CE Clients; New Product Enables Colleges and Universities to Foster Student-Directed Reflection, Expression and Assessment.

CHICAGO -- Blackboard Inc, (NASDAQ: BBBB) today announced that the Blackboard Portfolio(TM) for Vista & CE, formerly known as the WebCT Portfolio, is now available, addressing strong demand for innovative ways for learners to manage their personal development.

The Blackboard Portfolio for Vista and CE is a learner-centered portfolio solution that facilitates personal development planning for college and university students. The product will give students at universities deploying WebCT(R) technology from Blackboard a personal online space where they can collect course materials, present academic achievements and reflect on those achievements over time.

"With e-Learning technology already deployed across our curriculum we will be able to seamlessly integrate the Blackboard Portfolio for Vista & CE, removing technology integration issues and concerns about the scalability and compatibility of products from multiple vendors," said Stephen Clarke, Head of eLearning, University of Birmingham. "We anticipate significant savings in both time and money, simplifying the long-term management of what is going to be a cornerstone of our e-Learning program."

The Blackboard Portfolio for Vista & CE received high marks from more than 500 participants of online seminars that took place in May and at pre-conference workshops this week. More than 30 institutions participated in an Early Access Program - which provided a preview of the product. The Blackboard Portfolio for Vista & CE is the result of the Portfolio Development Project, which is made up of representatives from Universities and the WebCT product team and a follow-on to the Early Access Program. A roadshow in the United Kingdom was attended by representatives of half the WebCT(R) institutions in that region.

"Much of the power in education lies in the reflection that a student conducts between periods of coursework and testing, and over his or her entire academic career," said Michael Chasen, Blackboard president and chief executive officer. "There are a variety of ways to communicate achievements in addition to grades. The Blackboard Portfolio for Vista & CE provides a valuable tool for this kind of reflection and exchange."

Archived Webinars explaining the use and benefits of electronic portfolios are available at http://www.webct.com/seminar/viewpage?name=seminar_archive

For more information about the Blackboard Portfolio for Vista & CE, please contact a local Blackboard account manager at 1-800-424-9299, Ext.4, or visit http://www.webct.com/intl/.

About Blackboard

Blackboard Inc. (NASDAQ: BBBB) is a leading provider of enterprise software applications and related services to the education industry. Founded in 1997, Blackboard enables educational innovations everywhere by connecting people and technology. Blackboard solutions are used by millions of people at academic institutions around the globe, including colleges, universities, K-12 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 in North America, Europe, Australia and Asia. WebCT is a wholly owned subsidiary of Blackboard Inc.

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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 Annual Report on Form 10-Q filed on May 10, 2006 with the SEC. In addition, the forward-looking statements included in this press release represent the Company's views as of July 11, 2006. 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 July 11, 2006.