News Release Details

BOSTON--(BUSINESS WIRE)--Feb. 2, 2004--Charles River Associates Incorporated (NASDAQ: CRAI), an internationally known leader in providing economic, financial, and management consulting services, today announced that Irving B. Yoskowitz has joined CRA's Aerospace & Defense Practice as a Senior Consultant affiliated with the company's Washington, D.C. office.

"This collaboration with Irv underscores our company's commitment to serving the aerospace and defense sector and to deepening its expertise in capital transaction advisory services to the companies and investors in this sector," said Steven C. Grundman, Vice President and Director of Aerospace & Defense Consulting at CRA.

Irv Yoskowitz brings more than 30 years of combined corporate, legal, and military experience to his new role with CRA. He joined United Technologies Corporation in 1979, serving first as Deputy General Counsel and later as Executive Vice President and General Counsel of the Corporation, a role he held through 1998. At UTC, Mr. Yoskowitz was the firm's principal negotiator in major domestic and international mergers, acquisitions, and divestitures. His other responsibilities included environmental health and safety, corporate policies on business practices, and corporate development. Since 2001, Mr. Yoskowitz has been Senior Counsel in Crowell & Moring's Washington, D.C. office, where his practice continues to focus on mergers and acquisitions, crisis management, corporate governance, and corporate ethics. Mr. Yoskowitz's early professional career involved service in the U.S. Army, during which he served as a systems analyst in the Office of the Secretary of Defense, and at IBM, where he assumed corporate counsel responsibility for the firm's public sector business.

In announcing Mr. Yoskowitz's affiliation as a Senior Consultant, James C. Burrows, CRA's President and CEO, said, "CRA is fortunate to forge this relationship with Irv Yoskowitz. He is a particular eminence among corporate counsels and capital transaction professionals; that reputation and expertise will augment our growing capabilities and reputation for providing the aerospace and defense sector with insightful business consulting services. We welcome Irv to the CRA team and look forward to collaborating with him."

Mr. Yoskowitz currently serves as a director of BBA Group, plc and Equant, N.V. In addition, he is a Senior Partner of Global Technology Partners, L.L.C., a professional services firm associated with the Rothschild Group of investment banks. Prior to its acquisition by the Chubb Group in 1999, Mr. Yoskowitz served on the Board of Directors of Executive Risk Insurance Company. A graduate of City College of New York, Mr. Yoskowitz received his J.D. from Harvard Law School, where he was an editor of the Harvard Law Review and from which he was named a Harvard University Knox Fellow at the London School of Economics.

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 regulatory 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 website at www.crai.com.

Statements in this press release concerning the benefits expected to accrue to Charles River Associates as a result of Irving Yoskowitz's affiliation with CRA may be considered "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

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Jim Buckley, 617-542-5300