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Blackbaud, Inc. Announces Pricing of Initial Public Offering of Common Stock

Charleston, S.C. (July 22, 2004) -- Blackbaud, Inc. (Nasdaq: BLKB), the leading global provider of software and related services to the nonprofit industry, today announced the public offering by selling stockholders of 8.1 million shares of common stock at a price of $8 per share. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1.2 million shares of common stock to cover over-allotments, if any. Because all of the shares included in this offering are being sold by existing Blackbaud stockholders, they will receive all of the net proceeds from the sale of the shares.

J.P. Morgan Securities Inc. and Bank of America Securities LLC were joint book-running managers of the offering, and Thomas Weisel Partners LLC and Wachovia Capital Markets, LLC served as co-managers. The shares will be listed on the NASDAQ Stock Market’s National Market under the symbol “BLKB.”

The common stock offering may be made only by means of prospectus, copies of which may be obtained by contacting:

J.P. Morgan Securities Inc.
Prospectus Department
1 Chase Manhattan Plaza, Floor 5B
New York, NY 10081

Bank of America Securities LLC
Capital Markets Operations
(Prospectus Fulfillment)

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Blackbaud, the Blackbaud logo, The Raiser's Edge, The Financial Edge, The Education Edge, The Information Edge, WealthPoint and ProspectPoint are trademarks or registered trademarks of Blackbaud, Inc.


Tim Dolan
Integrated Corporate Relations


Megan McDonnell
Integrated Corporate Relations

SOURCE: Blackbaud, Inc.


Serving the nonprofit, charitable giving, and education communities for more than 30 years, Blackbaud (NASDAQ:BLKB) combines technology solutions and expertise to help organizations achieve their missions. Blackbaud works in over 60 countries to support more than 30,000 customers, including nonprofits, K–12 private and higher education institutions, healthcare organizations, foundations, and other charitable giving entities, and corporations.

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