CRA International Economists Provide Key Economic Antitrust Analysis In SIRIUS-XM Merger

CRA International, Inc. (Nasdaq: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that the Company assisted counsel from SIRIUS and XM and their outside counsel, Jones Day, Latham & Watkins, LLP, Simpson Thacher & Bartlett LLP, and Wiley Rein LLP, with economic antitrust analysis of the merger. SIRIUS and XM announced plans to merge in February 2007. The proposed merger was subject to regulatory review by the Department of Justice and the Federal Communications Commission. In March 2008, the Department of Justice cleared the merger. The merger received its final regulatory clearance when the Federal Communications Commission announced its approval on July 28, 2008. The closing of the merger was announced on July 29, 2008. CRA was jointly retained by SIRIUS and XM. CRA prepared economic analyses of the competitive effects of the merger that were provided to both governmental agencies during their review. CRA prepared reports filed with the Federal Communications Commission and met with the staffs of both agencies. CRA’s team in the matter was led in Washington, DC by Steven Salop, Senior Consultant, and Steven Brenner, Vice President. The team included economists from several CRA offices—Lorenzo Coppi, Vice President (London); Serge Moresi, Vice President (Washington, DC); Timothy Savage, Principal (New York); and Martino De Stefano, Associate Principal (Washington, DC). CRA drew upon its leadership in antitrust economic analysis, including in the telecommunications and broadcasting industries. "When it comes to evaluating mergers, businesses and law firms turn to economists at CRA International for expertise in economic and antitrust analysis,” said James C. Burrows, CRA’s President and Chief Executive Officer. "We are pleased that our analyses of the SIRIUS-XM merger contributed to a successful result for our clients, while also providing insight into the competitive nature of the satellite radio industry.” About CRA International Founded in 1965, CRA International is a leading provider of management consulting services and economic and financial expertise. Working with businesses, law firms, accounting firms, and governments, CRA is a preferred consulting firm for complex assignments with pivotal and high-stakes outcomes. The firm is distinguished by a unique combination of credentials: deep vertical experience in a variety of industries; broad horizontal expertise in a range of functional disciplines; and rigorous economic, financial, and market analysis. CRA offers a proven track record of thousands of successful engagements in regulatory and litigation support, business strategy and planning, market and demand forecasting, policy analysis, and engineering and technology management. Headquartered in Boston, the firm has sixteen offices within the United States, and seven offices in Canada, Europe, the Middle East, and the Asia Pacific region. Detailed information about CRA is available at www.crai.com. Statements in this press release concerning the future business, operating results, estimated cost savings, and financial condition of the Company, and statements using the terms "anticipates," "believes," "expects," "should," 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 results to differ materially from any forward-looking statements made by the Company include, among others, the Company's restructuring costs and attributable annual cost savings, changes in the Company's effective tax rate, share dilution from the Company's convertible debt offering and stock options, dependence on key personnel, attracting and retaining qualified consultants, dependence on outside experts, utilization rates, factors related to its recent acquisitions, including integration of personnel, clients, offices, and unanticipated expenses and liabilities, 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 its practice areas, management of new offices, the potential loss of clients, dependence on the growth of the Company's business consulting practice, the unpredictable nature of litigation-related projects, the ability of the Company to integrate successfully new consultants into its practice, 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 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.