Noted Labor Economist Daniel Hamermesh Joins CRA as a Senior Consultant; Respected Academic Will Showcase Firm's Employment Economics Practice.

BOSTON -- Charles River Associates Incorporated (NASDAQ: CRAI), an internationally known leader in providing economic, financial, and management consulting services, today announced that Daniel S. Hamermesh, Professor of Economics at the University of Texas at Austin, has joined CRA as a Senior Consultant to the firm's Employment Economics Practice.

Professor Hamermesh has been the Edward Everett Hale Centennial Professor at the University of Texas at Austin since 1993, teaching undergraduate and graduate level courses in labor economics, economic theory, and applied econometrics. Prior to this appointment, Professor Hamermesh taught similar courses and periodic seminars at such institutions as Michigan State, Princeton, Yale; and (abroad) the Hebrew University. Professor Hamermesh's current research interests focus on labor demand, wage dynamics, labor market and social insurance programs, lifecycle behavior and time use, and academic markets.

In announcing this appointment, James C. Burrows, CRA's President and CEO, said, "For many different reasons, increasing attention is being paid to the area of employment economics and discrimination claims, which is a recently established and growing practice at CRA. Given his 35 years of experience in the field of labor economics as both an academic and a consultant, Dan will provide our practice staff with the valued guidance of a seasoned hand. His outstanding work in university teaching, academic publishing, and educational administration has garnered him a well-earned international reputation. We look forward to a long and fruitful collaboration with Professor Hamermesh."

Professor Hamermesh's many publications include the following books: Economics Is Everywhere (2004), Labor Demand (1993), and (with A. Rees and R. Filer) The Economics of Work and Pay (6th ed., 1996). He also has written numerous articles on such topics as labor market competition, wages and time allocation, the costs of worker displacement, and economic factors affecting job satisfaction. Professor Hamermesh either serves or has served on the editorial boards of the following peer-reviewed publications: American Economic Review, Economics Letters, European Economic Review, Industrial and Labor Relations Review, Journal of Population Economics, Labour Economics, and Quarterly Review of Economics and Business, among others. In addition, Professor Hamermesh holds or has held a number of honorary or administrative positions, including: Fellow, Econometric Society; Former President of both the Society of Labor Economists and the Midwest Economics Association; American Economic Association: Committee on Economic Education, and Committee on the Status of Women in the Economics Profession; and German Institute for Economic Research (Berlin): Chair, Scientific Advisory Board, and Member, Board of Directors.

Professor Hamermesh holds a Ph.D. in Economics from Yale University.

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. 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, Dubai, London, Melbourne, Mexico City, Toronto, and Wellington, CRA also has U.S. offices in Chicago, College Station, 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.

Statements in this press release concerning the affiliation of Professor Daniel S. Hamermesh with Charles River Associates 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 CRA's financial results is included in the Company's filings with the Securities and Exchange Commission.