Safe Harbor Statement

9/24/2004


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Table of Contents

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Safe Harbor Statement

Introduction to Blackboard

Investment Highlights

The Technology Standard for Education

Education is a Large and Growing Market

Blackboard Product Suites

The Bb Academic Suite

The Bb Commerce Suite

The Technology Platform for Education

Broad Product Offering and Market Reach

Leading Market Position

Blackboard Growth Strategy

Increase Penetration in U.S. Higher Education

Expand Internationally and in U.S. K-12

Grow Same Client Revenues: Up-Sell

Grow Same Client Revenues: Cross-Sell

Launch New Products

Pursue Strategic Relationships & Acquisitions

Financial Highlights

Summary Financial Performance

Q2 2004 Results & Q3 2004 Outlook

PPT Slide

Author: Michael J. Stanton