CRF Inc. Reports Record Growth in 2004.

WALTHAM, Mass. and HELSINKI, Finland -- Company leads industry in safe, efficient, paper-free clinical trials

CRF Inc., the leading global provider of electronic Patient Diaries (e-Diaries) and wireless data collection solutions for the biopharmaceutical industry, reported today that 2004 was a record year for the company, marking considerable growth and expanded offerings. Over the course of the year, the company significantly increased its customer base, supported trials of increasing complexity, achieved record compliance rates, expanded its facilities, secured a new round of financing, and closed the largest ever e-Diary study in the industry.

"2004 has been a remarkable year for the electronic patient diary industry and for CRF Inc., who has truly emerged as a market leader," said Pam McNamara, CEO of CRF Inc. "We have long been committed to leading the charge toward paper-free clinical trials with proven technology that provides secure, reliable, efficient, and cost-effective outcomes for our clients. We have seen a tremendous shift in the adoption of e-Diary technology this year and anticipate continued growth in 2005 as biopharmaceutical companies worldwide adopt the use of e-Diaries with increasing frequency."

Below are significant highlights for CRF in 2004:

--Trial Milestones: In April, CRF Inc. closed a database for the largest ever conducted e-Diary study in the industry. The trial included 5,000 patients who recorded diary entries in 23 countries and demonstrated cost-equivalence to paper. Additionally, the trial sponsors achieved database lock on patient diary data in only 5 days from last patient last visit - a process that takes an average of 30 days with paper diaries. In addition, patient compliance levels for the trial were above 95% compared to below 60% with paper diaries in similar studies.

--Increasingly Complex Trials: The average clinical study that CRF Inc. supported in 2004 required the deployment of both landline and wireless data transmission technology and involved more than 1,000 patients in three countries reporting efficacy, Quality of Life and safety data in five different languages.

--Record Compliance Rates: In 2004, CRF Inc.'s clients reported patient compliance rates of over 95% across all studies, yielding high quality data and minimizing the costs and risks of error-prone paper studies, which have compliance rates of 10-60%. CRF Inc.'s compliance rates are the highest that have ever been consistently reported in real-life studies.

--More Patients Worldwide: At the end of 2004 more than 86,000 patients across 55 countries had used CRF Inc.'s e-Diaries. This represents a nearly 100% increase from 2003 and makes CRF Inc.'s TrialMax the most widely used e-Diary technology in the world. In total, CRF Inc. has processed 58 million data pages.

--Greater Language Support: CRF Inc.'s TrialMax technology supports one-click diary localization, which provides clients with local language e-Diaries earlier within the validated Software Life Cycle and with greater flexibility than any other technology. With its partner, SimulTrans, the company offers clients multi-lingual technology, services and support around the world. By the close of 2004, CRF Inc. supported patients submitting clinical data in 42 languages. During the year, CRF Inc. provided native-language helpdesk support to over 30 countries with its partner TechTeam Global, resulting in the most extensive coverage in the industry.

--New Clients: CRF Inc. signed a number of new clients in 2004, including Schering AG, a global leader in pharmaceutical research. Thirty-eight pharmaceutical and biotechnology companies have used CRF Inc. technologies, including 13 of the world's 20 largest pharmaceutical companies. During 2004, CRF Inc. achieved preferred vendor status with 5 new top 20 pharmaceutical companies.

--New Financing: CRF Inc. secured a new round of financing totaling $3.4 million (EUR 2.75 million) in April. All of CRF Inc.'s existing and original investors, including 3i Group, Stratos Ventures and Nordic Venture Partners (formerly Danske Venture Partners), participated in the financing and have supported the company's growth since it was founded, providing longevity in financial leadership.

--New Staff: CRF Inc. strengthened its global staff significantly in 2004. Pamela McNamara, having been appointed CEO in October 2003, recruited to the CRF Inc. Management Team John Arcari, who was appointed Chief Financial Officer in January, and Andy Sontag, who joined the company as Global Director of Project Management in May.

--Expanded Facilities: In March, CRF Inc. opened a new UK office in London area. The company also created Service Delivery Centers in the U.S. and UK and a Maintenance Center in Finland to ensure the highest levels of customer support in the industry on a global basis.

--Industry Recognition: CRF Inc. won the "Most Productive Idea" award in the Business category of the 26th Annual Junior Chamber International-Finland Productive Idea competition. Additionally, the company was a finalist for the Red Herring list of the 100 Most Innovative Companies of 2004.

About CRF Inc.

CRF Inc. is the leading global provider of electronic Patient Reported Outcomes (ePRO) and wireless data collection solutions for the biopharmaceutical industry. Through innovative technology and a thorough understanding of drug development and mobile computing, the company is driving the change to safer and more efficient paper-free clinical trials. CRF Inc.'s technology has been used by more than 86,000 patients across 55 countries in 42 languages for 32 indications. The company has demonstrated the industry's highest patient compliance rates -- an average 95 percent compliance through Phase I, II, III and IV clinical trials -- and unmatched patient and research site acceptance. CRF Inc.'s award-winning product, TrialMax, is a flexible and customizable ePRO technology that provides real-time patient monitoring, outstanding data accuracy and increased safety. Its unique features enable clinical trial sponsors to collect more valuable data faster and conduct complex clinical trials with greater flexibility than other ePRO solutions. CRF Inc.'s experience combined with its dedication to ensuring the highest quality and most responsive customer service has made the company the biopharmaceutical industry's most trusted partner. CRF Inc. is headquartered in Waltham, MA, USA and Helsinki, Finland, with offices in London, UK and Stockholm, Sweden. For further details, please visit www.crfhealth.com.