CRA International Economist Tasneem Chipty Authors Study to Help Guide FCC Decisions around Media

CRA International, Inc. (Nasdaq: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that Vice President Tasneem Chipty has authored one of the 10 recently released media ownership studies commissioned by the Federal Communications Commission (FCC) as part of its periodic review of broadcast ownership rules.

Dr. Chipty was selected by FCC Chief Economist Michelle Connolly to evaluate the effects of consolidation and cross-media ownership in broadcast radio. The study provides a detailed analysis of the effects of ownership structure on program diversity (with a first-of-its-kind analysis of non-music programming), listenership, and advertising prices, using nationally representative data from the third quarter of 2005. Key findings are that consolidation of radio ownership does not diminish the diversity of local format offerings and is associated with more diversity in actual programs aired.

The results of Dr. Chipty’s study were released to the public on July 31, 2007 and are available at http://www.fcc.gov/ownership/studies.html.

James C. Burrows, CRA’s President and Chief Executive Officer, said, “CRA consultants bring a unique rigor to their work by combining academic research with economic consulting. Cable television operators, content providers, terrestrial and satellite radio companies, and other companies in the broadcasting and entertainment industries rely upon Tasneem Chipty for her analyses. We are pleased that she has been able to apply her knowledge of the economics of this fast-paced, ever-changing industry in serving as an additional resource to the FCC.”

Dr. Chipty holds a doctorate in economics from the Massachusetts Institute of Technology, and specializes in the areas of competition economics and applied econometrics. She has served on the faculties of several universities around the country and has published articles in peer-reviewed journals.

About CRA International

Founded in 1965, CRA International is a leading provider of economic and financial expertise and management consulting services. 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 fifteen offices within the United States, and ten offices in Canada, Europe, the Middle East, and the Asia Pacific region.

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