This study examined preschool teachers' (n = 59) explicit print instruction during shared reading and considered whether the benefits of this practice to children's learning (n = 379) varied as a function of the classroom environment and children's developmental characteristics. Measures of explicit print instruction and the classroom environment (global classroom quality, literacy environment) were obtained by aggregating observations taken across the 30 weeks of the study. Child outcomes were measured as spring print knowledge performance, controlling for fall. Child developmental characteristics were measured directly (language ability) and indirectly (attentional skills) in fall and winter, respectively. Findings showed that explicit print instruction contributed to children's learning, but its benefits decreased as the quality of the classroom and children's attentional skills increased. Implications for research and practice are discussed. (Contains 3 tables and 2 figures.)