Charles River Associates Conducts Successful Auction of Electrical Production Capacity for Leading Dutch Utility Company; 200 Megawatts Sold to Seven Winning Bidders

Business Wire, Oct 7, 2004

BOSTON -- Charles River Associates Incorporated (Nasdaq: CRAI), an internationally known leader in providing economic, financial, and management consulting services, today announced the successful completion on September 22 of an auction of 200 megawatts of electrical production capacity for a leading Dutch utility company. The auction was designed and administered by CRA, and concluded successfully after six rounds of bidding with seven winning bidders. Twenty 10-megawatt blocks were awarded, with the number of blocks won by each winning bidder ranging from one to eight. The auction premium to be paid by all winning bidders is EUR 805,001 per 10-megawatt block.

CRA designed and implemented the hybrid ascending clock / sealed bid auction, which was conducted over the Internet. CRA's role included all aspects of the auction, including designing and developing the rules, procedures, documents, and software system.

"We are delighted that CRA was able to deliver such a successful auction for our client and the bidders," said James C. Burrows, president and chief executive officer of CRA. "Our team of auction and industry experts once again has achieved the objectives set out by the auctioneer and has met the high standards needed to design and administer high-stakes auctions."

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 Chicago, College Station, Houston, New York, Oakland, Pasadena, Philadelphia, Salt Lake City, Silicon Valley, 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 CRA's successful completion of an auction of 200 megawatts of electrical production capacity for a leading Dutch utility company 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.