CRA International Completes Acquisition of the Former Lexecon Ltd Business; Acquisition of U.K.-Based Economic Consulting Firm Expands CRA's Global Reach And Strengthens Competition Practice.

BOSTON -- CRA International, Inc. (NASDAQ: CRAI), a globally known leader in providing economic, financial, and management consulting services, today announced that its U.K. subsidiary has completed the acquisition of Economics of Competition & Litigation Limited (formerly known as Lexecon Ltd). As part of the transaction, approximately 30 former Lexecon Ltd consultants and academic experts have joined CRA.

Under the terms of the agreement, CRA acquired the former Lexecon Ltd business for a purchase price of GBP 8.4 million (approximately US$15.2 million), consisting of GBP 6.3 million (US$11.4 million) in cash and GBP 2.1 million (US$3.8 million) in loan notes to be exchanged for restricted shares of CRA stock. Additional purchase consideration may be payable if specific performance targets are met. The firm recorded trailing-twelve-months revenues of approximately GBP 7.4 million (US$13.5 million). CRA expects the acquisition to be accretive.

The firm is a leading provider of competition economics in Europe. It has been involved in many of the high-profile cases of the past several years, including Airtours, GE/Honeywell, Tetra/Sidel, Microsoft and Oracle/Peoplesoft. With its London headquarters and an established Brussels office, the firm is currently advising on major matters before the European Commission, the Court of First Instance, and the competition and regulatory authorities of several Member States, as well as on major cases in South Africa, Hong Kong, and Singapore, among others.

The former Lexecon Ltd business also has an expanding commercial litigation practice, a further growth opportunity for CRA International. CRA's capability in this area was enhanced by its April 2005 acquisition of Lee & Allen, a leading U.K.-based forensic accounting and financial dispute resolution firm.

"This acquisition provides CRA with a stronger foundation for growth in the expanding economic consulting market in Europe, and provides additional expansion opportunities in South Africa," said James C. Burrows, President and CEO of CRA International. "As a result of this acquisition and our recent addition of Lee & Allen, CRA now has the largest independent litigation support practice in Europe. We look forward to capitalizing on the more commanding global presence we now have in litigation support and competition economics."

About CRA

Founded in 1965, CRA International 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. The firm 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, Canberra, Dubai, Hong Kong, London, Melbourne, Mexico City, Sydney, Toronto, and Wellington, CRA also has U.S. offices in Cambridge, Chicago, College Station, Dallas, Houston, New York, Oakland, Pasadena, Philadelphia, Salt Lake City, Silicon Valley, and Washington, D.C. Detailed information about CRA can be found at www.crai.com.

Safe Harbor 

Statements in this press release concerning the expected benefits from CRA's acquisition of the former Lexecon Ltd business 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 CRA include, among others, difficulties in integrating the acquired company's assets, difficulties in integrating the personnel into CRA's existing operations, undisclosed or unanticipated expenses or liabilities associated with the acquisition, the potential loss of clients, the potential loss of key personnel, the difficulty of attracting and retaining qualified consultants, dependence on outside experts, intense competition, and professional liability. Further information on factors that could affect CRA's financial results is included in its most recent Form 10-Q filed on March 30, 2005, with the Securities and Exchange Commission.