Leading Economist And Academic Robert H. Topel To Become Senior Consultant To The Antitrust & Competition Economics Practice At Charles River Associates (CRA)

Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing  economic, financial, and management consulting services, today announced that Robert H. Topel, the Isidore Brown and Gladys J. Brown Distinguished Service Professor of Economics in the Booth School of Business of the University of Chicago, has entered into an agreement to become a senior consultant to CRA’s Antitrust & Competition Economics Practice. Professor Topel is expected to begin working with CRA in May 2013.

“Robert Topel’s contributions to the field of economics are far-reaching,” said CRA's President and Chief Executive Officer  Paul Maleh. “He is a leader in the field of microeconomics—with particular emphasis on industrial organization and antitrust, labor markets, business strategy, health economics, energy economics, national security economics, economic growth, and public policy—and in the application of statistics to economic data. In his academic research and expert testimony, Professor Topel is known for breaking new ground in economic theory. We are honored about Professor Topel’s decision to become a senior consultant to CRA and look forward to working with him and offering his expertise to our clients.”

Professor Topel is the recipient of numerous appointments and distinctions. At the University of Chicago, he is the Isidore Brown and Gladys J. Brown Distinguished Service Professor of Economics and the Director of the George J. Stigler Center for the Study of the Economy and the State, both at the Booth School of Business, as well as the Director of the Energy Policy Institute at Chicago (EPIC). Among various other positions, he is also a Research Associate of the National Bureau of Economic Research, a Fellow of the Society of Labor Economists, a Senior Fellow of the Milken Institute, an elected member of the Conference for Research on Income and Wealth, and an elected founding member of the National Academy of Social Insurance. He has held visiting and research positions at a number of institutions, including the Board of Governors of the Federal Reserve and the World Bank.

Among his recent honors, in 2007 he received the Kenneth J. Arrow Award (with Kevin M. Murphy) from the International Health Economics Association for the research paper “The Value of Health and Longevity.” In 2005, he and Kevin M. Murphy received Research!America’s Eugene Garfield Economic Impact of Medical and Health Research Award for their groundbreaking work estimating the economic value of medical advances and the resulting gains in US life expectancy. In 2006, he was elected a Fellow of the Society of Labor Economists.

In addition, Professor Topel has published extensively. He is the author of several books on the application of economic theory to policy issues, including Labor Market Data and Measurement with John Haltiwanger and Marilyn Manser, and Measuring the Gains from Medical Research: An Economic Approach with Kevin M. Murphy. He has written more than 60 articles and monographs in professional journals, including The Journal of Political Economy, The American Economic Review, The Journal of Law and Economics, and The Quarterly Journal of Economics. From 1993 to 2003, he served as editor of The Journal of Political Economy, and from 1991 to 1993, he was a member of the editorial board of The American Economic Review, the two leading professional journals in economics. He is also a founding member of the board of editors of The Journal of Labor Economics.

Professor Topel consults and serves as a testifying expert in the areas of antitrust, pricing, intellectual property, and employment. He earned his PhD degree in Economics from the University of California, Los Angeles, and his BA degree in Economics (with High Honors) from the University of California, Santa Barbara.

About Charles River Associates (CRA)Charles River Associates® is a global consulting firm specializing in litigation, regulatory, and financial consulting, and management consulting. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at http://www.crai.com.

Statements in this press release concerning Robert H. Topel, his expected start date with CRA, any future business Dr. Topel may generate for the Company, the future business, operating results, estimated cost savings, and financial condition of the Company and statements using the terms "anticipates," "believes," "expects," "should," "prospects," "target," or similar expressions are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon 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 due to many important factors. Such factors that could cause actual performance or results to differ materially from any forward-looking statements made by the Company include, among others, Dr. Topel's actual start date with CRA, the Company's restructuring costs and attributable annual cost savings, changes in the Company's effective tax rate, share dilution from the Company's stock-based compensation, dependence on key personnel, attracting, recruiting and retaining qualified consultants, dependence on outside experts, utilization rates, completing acquisitions and factors related to its completed acquisitions, including integration of personnel, clients and offices, and unanticipated expenses and liabilities, the risk of impairment write downs to the Company's intangible assets, including goodwill, if the Company's enterprise value declines below certain levels, risks associated with acquisitions it may make in the future, risks inherent in international operations, the performance of NeuCo, changes in accounting standards, rules and regulations, changes in the law that affect the Company's practice areas, management of new offices, the potential loss of clients, the ability of customers to terminate the Company's engagements on short notice, dependence on the growth of the Company's management consulting practice, the unpredictable nature of litigation-related projects, the ability of the Company to integrate successfully new consultants into its practice, general economic conditions, intense competition, risks inherent in litigation, and professional liability. Further information on these and other potential factors that could affect the Company's financial results is included in the Company's periodic filings with the Securities and Exchange Commission. The Company cannot guarantee any future results, levels of activity, performance or achievement. The Company undertakes no obligation to update any of its forward-looking statements after the date of this press release.

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