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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 WH/7eRroxdGXQEYD6h/mvC9OFP4Jqi09MPJRFt5XBUuM0OLuDDiIy7JBvocANgwi
 pJznCqEpZdTelFElpRrH3g==

<SEC-DOCUMENT>0001179110-03-005381.txt : 20030812
<SEC-HEADER>0001179110-03-005381.hdr.sgml : 20030812
<ACCEPTANCE-DATETIME>20030812121422
ACCESSION NUMBER:		0001179110-03-005381
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030811
FILED AS OF DATE:		20030812

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CONCANNON WILLIAM F
		CENTRAL INDEX KEY:			0001190864

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24049
		FILM NUMBER:		03836594

	BUSINESS ADDRESS:	
		STREET 1:		2001 ROSS AVENUE
		STREET 2:		SUITE 3400
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHARLES RIVER ASSOCIATES INC
		CENTRAL INDEX KEY:			0001053706
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-LEGAL SERVICES [8111]
		IRS NUMBER:				042372210
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		200 CLARENDON STREET
		STREET 2:		T-33
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		6174253000
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-08-11</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001053706</issuerCik>
        <issuerName>CHARLES RIVER ASSOCIATES INC</issuerName>
        <issuerTradingSymbol>CRAI</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001190864</rptOwnerCik>
            <rptOwnerName>CONCANNON WILLIAM F</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3917 GREENBRIER DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75225</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value>
</securityTitle>
<transactionDate><value>2003-08-11</value>
<footnoteId id="F1"></footnoteId>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>S</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>10000</value>
</transactionShares>
<transactionPricePerShare><value>30.004</value>
<footnoteId id="F2"></footnoteId>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable><derivativeHolding><securityTitle><value>Nonqualified Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>17.938</value>
</conversionOrExercisePrice>
<exerciseDate><value>2000-06-01</value>
<footnoteId id="F3"></footnoteId>
</exerciseDate>
<expirationDate><value>2010-06-01</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>10000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>10000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
<derivativeHolding><securityTitle><value>Nonqualified Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>10.04</value>
</conversionOrExercisePrice>
<exerciseDate><value>2002-04-20</value>
</exerciseDate>
<expirationDate><value>2011-04-20</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>5000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>5000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
<derivativeHolding><securityTitle><value>Nonqualified Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>17.49</value>
</conversionOrExercisePrice>
<exerciseDate><value>2003-04-26</value>
</exerciseDate>
<expirationDate><value>2012-04-26</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>5000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>5000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
<derivativeHolding><securityTitle><value>Nonqualified Stock Option (right to buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>17.45</value>
</conversionOrExercisePrice>
<exerciseDate><value>2004-04-18</value>
</exerciseDate>
<expirationDate><value>2013-04-18</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>5000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>5000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
</derivativeTable>
<footnotes><footnote id="F1">Represents the date of the closing of the public offering of shares of CRA's common stock pursuant to the Underwriting Agreement dated August 6, 2003 by and among CRA, the underwriters named therein, the reporting person, and the other selling stockholders named therein.</footnote>
<footnote id="F2">Represents a discount of $1.746 per share from the public offering price.</footnote>
<footnote id="F3">Date indicated is date of grant.  Option vests in three equal annual installments beginning on the first anniversary of the date of grant.</footnote>
</footnotes>
<ownerSignature><signatureName>Delia J. Makhlouta, by power of attorney</signatureName>
<signatureDate>2003-08-12</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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