News Release Details

Consulting Authority on Company Performance Offers Expertise in Utility Growth and Restructuring

BOSTON, Jan 17, 2002 (BUSINESS WIRE) -- Charles River Associates Incorporated (Nasdaq: CRAI), an internationally known leader in providing economic, financial, and management consulting services, today announced that Charles A. Trabandt, a senior financial, regulatory, and strategic planning professional, has joined CRA's Washington, D.C. office as a vice president within the firm's Electric Utility Restructuring & Strategy Practice.

An attorney by training and a senior investment banker, Mr. Trabandt has significant experience in providing major corporations and government clients in the global energy and power sectors with advice regarding critical financial transactions and strategic planning. Accustomed to leading large, multidisciplinary project teams, Mr. Trabandt has become an internationally recognized authority on the development of business strategies for energy companies and electric utilities, particularly in the realm of corporate consolidation and restructuring.

Mr. Trabandt held several prior positions that prepared him well for his current role at CRA. Most recently, he was a managing director of the Global Energy and Power Group within the Investment Banking Division of Merrill Lynch & Co., where he served as Chairman, Strategic Advisory Services (1993-2001). In this capacity, Mr. Trabandt led teams analyzing energy company and electric utility mergers, acquisitions, and restructurings both in the United States and abroad. A specialist in the Canadian electric power sector, he has also advised private firms and government authorities on energy matters in Italy, Russia, and the United Kingdom, as well as entities in Asia Pacific and the Middle East.

As a commissioner with the Federal Energy Regulatory Commission (FERC) from 1985-1993, Mr. Trabandt was actively involved in all aspects of electric power, natural gas, and oil pipeline regulation, in addition to the FERC's hydroelectric licensing and litigation activities. He also participated in the drafting of the Energy Policy Act of 1992. Further, while Minority Staff Counsel and, subsequently, Chief Counsel of the Senate Committee on Energy and Natural Resources (1977-1984), Mr. Trabandt assumed supervisory and legislative responsibilities for all federal energy and natural resource bills before the Senate, as well as related budget and appropriations matters.

In announcing Mr. Trabandt's arrival, James C. Burrows, President and CEO of Charles River Associates, said, "Chuck Trabandt's energy consulting career is truly global in its sweep. Both private companies and government authorities have benefited significantly from his in-depth knowledge of energy entities, ranging from their overall financial structures to their daily operations. Chuck's expertise in strategic planning, financial management, and enterprise risk management consulting, particularly within the energy and utility sector, will greatly benefit CRA's clients as they seek to achieve competitive advantage and enhanced shareholder value."

About CRA

Charles River Associates, an economics, finance, and business consulting firm, 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 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 the hiring of Charles A. Trabandt 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
Michael Tubridy
617-425-3180
or
Sharon Merrill Associates, Inc.
Jim Buckley
617-542-5300