DreamBox Learning names Jessie Woolley-Wilson as Chief Executive Officer

Seasoned Education Technology Veteran to Lead Company Post-Acquisition

Bellevue, WA, September 1, 2010 — DreamBox Learning (www.dreambox.com), an innovative e-Learning company, today named Ms. Jessie Woolley-Wilson to serve as the company’s Chief Executive Officer, effective immediately. The appointment follows the April 2010 acquisition of DreamBox Learning by The Charter Fund in partnership with Reed Hastings, education philanthropist and Chief Executive Officer of Netflix, Inc.

Ms. Woolley-Wilson will tap her nearly two decades of leadership experience in education technology and e-Learning in this new role. Most recently, Ms. Woolley-Wilson served as President of K-12 at Blackboard, Inc. (NASDAQ: BBBB), where she led the successful expansion of the e-Learning business and was instrumental in the development of K-12 functionality in Blackboard’s learning management system. Previously, Ms. Woolley-Wilson was Executive Vice President of LeapFrog Enterprises and the President of LeapFrog SchoolHouse, the schools division of LeapFrog Enterprises (NASDAQ: LF). Leading all business functions in this general management role, she was responsible for establishing LeapFrog SchoolHouse as one of the fastest growing instructional software providers in the K-12 industry. Prior to Leapfrog, Ms. Woolley-Wilson also held executive leadership positions at MyRoad.com, The College Board, and Kaplan.

“Jessie brings an enormous wealth of knowledge and expertise in the area of e-Learning as well as a stellar track record in her ability to lead and execute,” said Reed Hastings, DreamBox Learning Chairman of the Board. “I am confident that under her stewardship DreamBox Learning will accelerate its growth and create a heightened demand for effective, individualized programs that will help millions of students succeed.”

“DreamBox Learning is an exciting and promising company that has the potential to transform learning as we know it for generations to come,” said Ms. Woolley-Wilson. “Its award-winning adaptive learning technology delivers effective, engaging and individualized math curriculum to K-3 students while making learning fun. I am thrilled to join such a talented and dedicated group of professionals, and look forward to building value and catapulting the growth of this promising educational enterprise in the months and years ahead.”

About DreamBox Learning (www.dreambox.com)

DreamBox Learning was founded in 2006 in Bellevue, Washington and acquired in April 2010 by the Charter Fund in partnership with Reed Hastings, a widely recognized educational philanthropist and CEO of Netflix, Inc. The company launched a Web-based platform and its first adventure-themed online learning product called DreamBox Learning K-2 Math in January 2009, and the program has won more than 20 top technology and education industry awards. DreamBox Learning K-2 Math was followed by the DreamBox Math Classroom in April 2009 and DreamBox Learning K-3 Math in April 2010. The products target young students in kindergarten through third grade and deliver more than 500 core lessons and unlimited variations based on the Focal Points set by the National Council of Teachers of Mathematics (NCTM). DreamBox Learning programs are designed to teach and reinforce real math through effective, individualized instruction in an engaging and fun manner. The products’ patent pending “engine” constantly assesses each student’s mathematical understanding, provides the most suitable hints and encouragement at the right pace for that child, and offers the next personally appropriate activities as subsequent choices. More information can be found at www.dreambox.com.

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