News Release Details

BOSTON--(BUSINESS WIRE)--Dec. 7, 2000--

Firm Extends its Global Reach to the Asia Pacific Region

Charles River Associates Incorporated (Nasdaq: CRAI), an internationally known leader in providing economic, financial, and management consulting services, announced today that it has opened two new offices in the Asia Pacific region, one in Melbourne, Australia, and the other in Wellington, New Zealand.

James C. Burrows, president and CEO of Charles River Associates, said, "I am pleased to announce that, following the firm's expansion into Canada, Mexico, and the United Kingdom, CRA will be extending its global reach to clients in Australia, New Zealand and other countries in the Asia Pacific region. These openings will enhance the Company's ability to expand its international energy consulting services in this dynamic region."

To implement this strategy, CRA also announced today that Michael Thomas and Lance Hoch, both formerly associated with PHB Hagler Bailly affiliates, have been appointed vice presidents in the firm's Energy Practice and will anchor CRA's new presence in the region. Mr. Thomas, who is based in Wellington, will have overall responsibility for CRA's offices in Australia and New Zealand, while Mr. Hoch will head the office in Melbourne. CRA has already secured a backlog of contracted business for the new offices.

Michael Thomas, former Senior Vice President of PHB Hagler Bailly Asia Pacific Ltd., will offer consulting services in network industry restructuring, corporate strategy and litigation support, and environmental economics. Mr. Thomas has established a strong client base in these practice areas in Australia, New Zealand, Hong Kong, Singapore, and Malaysia. While he will team with Mr. Hoch in energy market consulting, Mr. Thomas will also apply his considerable counseling experience to clients requiring litigation support in a range of industries.

Lance Hoch is a seasoned energy industry expert with more than 25 years of consulting experience. He specializes in utility/customer interface issues and has provided expert and innovative assistance to Australia's deregulated electricity utilities in such areas as retail strategy development and implementation, product and service development, market planning, and customer research. Mr. Hoch specializes in advising corporate clients on asset acquisition investment decisions involving the electricity and natural gas markets in the Asia Pacific region. In this role, he has developed considerable expertise in conducting energy retail asset valuations, feasibility studies, competition analyses, and customer segmentation studies. Mr. Hoch also has significant experience in the region, having led major project assignments in Hong Kong, Indonesia, Thailand, the People's Republic of China, and the Philippines.

"Both Michael Thomas and Lance Hoch have accumulated vast expertise in energy-related markets," concluded Burrows. "Their experience in these areas will help CRA establish a solid presence in the Asia Pacific region and enable continued expansion of the global customer base for the Company's sophisticated consulting services."

Founded in 1965, CRA is a leading provider of sophisticated economic and financial consulting services, expert testimony and litigation support, and business consulting. The firm's areas of expertise include auctions, antitrust, mergers and acquisitions, policy impact assessments, corporate finance, strategy and business operations, and regulatory economics. CRA has advised legal and corporate clients, government agencies, and other organizations in thousands of engagements. In addition to its corporate headquarters in Boston and international offices in London, Melbourne, Mexico City, Toronto, and Wellington, CRA also has U.S. offices in Berkeley/Oakland, College Station, Los Angeles, Palo Alto, Salt Lake City, and Washington, D.C. More information about the Company can be found on its Web site at www.crai.com.

Statements in this press release concerning CRA's ability to expand its energy consulting services in the Asia Pacific region, to establish a solid presence in the Asia Pacific region, and to expand its global customer base are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially. Such factors that could cause actual results to differ materially from any forward-looking statements made by the Company include, among others, the ability of the Company to successfully integrate Mr. Thomas and Mr. Hoch into its practice, start-up costs associated with opening new office locations, dependence on key personnel, attracting and retaining qualified consultants, dependence on outside experts, intense competition, and professional liability. Further information on factors that could affect the Company's financial results is included in the Company's filings with the Securities and Exchange Commission.

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