News Release Details

BOSTON--(BUSINESS WIRE)--Aug. 26, 2003--Charles River Associates Incorporated (NASDAQ: CRAI), an internationally known leader in providing economic, financial, and management consulting services, today announced that David L. Sunding, Ph.D., Associate Professor in the Department of Agricultural and Resource Economics at the University of California, Berkeley, and noted authority on the application of economics to environmental, natural resource, and agricultural issues, has reaffiliated with CRA as a Senior Consultant to the firm's Energy & Environment Practice. Dr. Sunding will work out of CRA's Oakland office.

During his consulting career to date, Dr. Sunding has assisted public and private clients in various economic disciplines, often providing expert testimony before the courts, regulatory bodies, and legislatures. In recent cases, he either testified or provided written reports on such diverse topics as: 1) the economic impacts of critical habitat designation for endangered species; 2) the impact of zoning and environmental regulations on housing affordability; 3) the rate of return on investments to improve the reliability of water supply systems; 4) methods used to measure environmental permitting costs, derived from a nationwide survey of real estate developers and consultants; and 5) property value measurement relating to toxic tort claims.

In addition to his consulting work, Dr. Sunding has taught courses in law and economics, environmental economics, and public finance at Berkeley and Boston College.

In announcing Dr. Sunding's reaffiliation with CRA, James C. Burrows, President and CEO of Charles River Associates, observed, "David's varied analytical expertise is a welcome addition to CRA. We are fortunate to have him working with CRA once again. Although environmental work will remain his primary consultancy, David also will lend his vast experience to other CRA practices dealing with matters of agricultural policy, antitrust, natural resource economics, and public finance."

About CRA

Founded in 1965, Charles River Associates is an economics, finance, and business consulting firm that works with businesses, law firms, accounting firms, and governments in providing a wide range of services. CRA combines economic and financial analysis with expertise in litigation and regulation support, business strategy and planning, market and demand forecasting, policy analysis, and engineering and technology management. CRA is distinguished by a corporate philosophy of providing responsive, top-quality consulting; an interdisciplinary team approach; unsurpassed economic, financial, and other analytic skills; and pragmatic business insights. In addition to its corporate headquarters in Boston and international offices in Brussels, Dubai, London, Melbourne, Mexico City, Toronto, and Wellington, CRA also has U.S. offices in College Station, Houston, Los Angeles, Oakland, Palo Alto, Philadelphia, 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 the benefits expected to accrue to Charles River Associates as a result of David L. Sunding's reaffiliation with CRA as a Senior Consultant 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, acquisition costs, 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.

CONTACT:
Charles River Associates Incorporated
Phil Cooper, 617-425-3700

Sharon Merrill Associates, Inc.
Jim Buckley, 617-542-5300