The ResearchNow Content
Building Block makes it possible for educators to search directly in
Blackboard for access to more than 85,000 journal articles, working papers,
institutional repository materials, theses and dissertations hosted within
ResearchNow, The Berkeley Electronic Press's innovative database of
scholarly information. To learn more
about our journals, institutional repositories, subject matter
repositories, working paper series, and editorial management software, we
invite you to explore our web site at www.
(NASDAQ: BBBB) is a leading provider of enterprise software applications
and related services to the education industry.

Ariel Capital Management Becomes Newest Member of ChicagoFIRST

Ariel's commitment
increases ChicagoFIRST's goal of creating a more unified business community
equipped to respond immediately and effectively in the event of a crisis.

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PRESS RELEASE Blackboard and Berkeley Electronic Press Announce ResearchNow Content Blackboard Building Block(TM)

This Blackboard collaboration
brings first-of-its-kind visibility to both our peer-reviewed journal
imprint and our rapidly growing Digital Commons institutional repository
platform. The
firm adds important breadth and depth to our organization.

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blackboard. A "browse
by subject" option also allows for quick searching in academic areas
ranging from aerospace engineering to urban planning . CHICAGO, ChicagoFIRST announced today that Ariel
Capital Management, LLC joined the advocacy group, an industry coalition
committed to ensuring the resiliency of Chicago's financial community in the
event of an emergency.

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More than 50 schools -- including the University
of California system, Boston College, Cornell, and the University of
Nebraska, as well as major universities in Europe and Australia -- use the
bepress platform for their institutional repositories.

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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. The Company anticipates that subsequent events and
developments will cause the Company's views to change.

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As a member of ChicagoFIRST, Ariel will collaborate
with many leading financial institutions as well as local, state and federal
agencies on critical homeland security and business continuity concerns.

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"The ResearchNow Content Building Block is a powerful example of how the
open Blackboard Building Blocks architecture enables a Networked Learning
Environment ," said Matthew Pittinsky, Chairman of Blackboard. "The ResearchNow Building Block will bring innovative
and topical content to the virtual classroom. 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-K
filed on February 15, 2006 with the SEC.

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"
Ariel Chairman, John W.

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Founded in 1997, Blackboard
enables educational innovations everywhere by connecting people and
technology.
These forward-looking statements should not be relied upon as representing
the Company's views as of any date subsequent to February 28, 2006. The coalition seeks to enhance the resiliency of the Chicago
financial community by addressing the homeland security issues that require a
coordinated response on the part of financial institutions. ChicagoFIRST
works with government agencies to: better understand their approaches to
various crises; to express the importance of Chicago's financial community
regionally, nationally , and globally; and to ensure resilience for the
community in the event of a crisis.

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Blackboard Inc. The bepress
repository platform has been co-marketed with ProQuest Information &
Learning since 2004 as Digital Commons.

Blackboard Building Blocks are third party applications which enable
academic institutions to extend and customize their Blackboard
application. From the search
results, instructors can select specific materials and embed links to them
within their Blackboard course web site."

About ChicagoFIRST
ChicagoFIRST was formed in July 2003 by Chicago -area financial
organizations.

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These tools provide innovative and effective means
of content production and dissemination.C.

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The ResearchNow Content Building Block is available for free
download from the Blackboard Building Blocks Catalog
(http://www.

About Blackboard

Blackboard Inc. In addition, the forward-looking
statements included in this press release represent the Company 's views as
of February 28, 2006.

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Relevant resources may be easily selected and
incorporated into the Blackboard Academic Suite. Collectively, ResearchNow
materials have been downloaded more than 3 million times in the past year.com/extend/b2/), and is free to use.

The Berkeley Electronic Press, as a member of the Blackboard Developer
Network(SM), has developed a Building Block to expose ResearchNow content
to Blackboard's worldwide community of 12 million learners and educators.
Instructors using the Blackboard Learning System can easily search
ResearchNow directly from within their Blackboard online course. Rogers, Jr.

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ResearchNow is a collection of academic materials drawing from several
primary sources: the roster of peer-reviewed, Berkeley Electronic Press
journals (27 and counting ), bepress-hosted subject matter repositories such
as the bepress Legal Repository and COBRA: The Collection of Biostatistics
Research Archive, and all working papers, preprints and other "grey
literature " content from institutional repositories hosted by bepress that
have opted for inclusion.

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"The
ResearchNow Content Building Block allows instructors to search the
ResearchNow network of high-quality scholarship and easily incorporate
these materials into their online classes.

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"

"We are pleased to connect thousands of articles, working papers, and other
scholarly literature with millions of instructors and students via the
Blackboard Learning System," said Greg Tananbaum, President of The Berkeley
Electronic Press.

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, with offices in North America, Europe and Asia.

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(NASDAQ: BBBB) and The Berkeley Electronic Press (bepress) today announced
the launch of the ResearchNow Blackboard Building Block, a new tool that
integrates with the Blackboard Learning System, enabling online access
to tens of thousands of scholarly materials.com. Blackboard is headquartered in Washington,
D . We can never be too prepared -- and developing plans to
protect critical infrastructure is paramount to our industry, to the greater
business community, as well as to our shareholders.

Associations of distance learning practitioners and professionals.

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Founded by academics in 1999, bepress has a portfolio of products and
services that reduces the costs of, and barriers to, access.bepress. Innovate ., said, "We applaud ChicagoFIRST's
foresight and initiative and welcome the opportunity to advance the
coalition's mission. We look forward to
working with industry peers and government leadership in this important
effort.

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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 .
Executive Director of ChicagoFIRST, Brian Tishuk, stated, "Ariel is our
newest member and we are pleased to partner with one of Chicago's most
respected mutual fund companies and institutional money management firms.

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"

About The Berkeley Electronic Press

The Berkeley Electronic Press ("bepress") produces tools to improve
scholarly communication. With two product suites, the Blackboard Academic Suite and
the Blackboard Commerce Suite, Blackboard is 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

Educate.

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Blackboard provides educational technology solutions used by more than
2,200 academic institutions and corporate and government agencies in the
United States and abroad, enabling millions of people to access educational
materials and resources at any time and from any location.

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Everywhere.

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