PHILADELPHIA (Map) - In the news release, eResearchTechnology Reports Fourth Quarter and Full Year 2007 Results, issued yesterday, February 26, by eResearchTechnology, Inc. over PR Newswire, we are advised by the company that in the "Conference Call" section, the United States phone number to listen to the conference call playback should be 888-286-8010 rather than 800-286-8010 as originally issued inadvertently.

    Complete, corrected release follows:
    eResearchTechnology Reports Fourth Quarter and Full Year 2007 Results
  Q4 2007 Net Revenues - $28.9 million vs. $19.9 million in Q4 2006 - a 45%
                                   increase
      Q4 2007 Diluted Net Income per Share - $0.10 vs. $0.04 in Q4 2006
                Q4 2007 New Bookings Increase to $39.2 million

PHILADELPHIA, Feb. 26 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), (Nasdaq: ERES), a leading provider of centralized ECG, eClinical technology, ePRO and other services to the pharmaceutical, biotechnology, medical device and related industries, announced today results for the fourth quarter of 2007 and the twelve-month period ended December 31, 2007.

On November 28, 2007, the Company acquired Covance Cardiac Safety Services, Inc. (CCSS) and entered into a ten-year exclusive marketing agreement with Covance, Inc. Because there is only one month of impact on its results for 2007, the Company reported key statistics with and without the CCSS acquisition. Unless otherwise noted, all growth numbers refer to changes from the same period a year ago.

    Highlights of the fourth quarter and the year were:
    -- Record quarterly net revenue of $28.9 million for the fourth quarter of
       2007 (including $1.5 million from the CCSS transaction) a 45.1%
       increase from the prior year's quarter.  Net revenues for the full year
       2007 were $98.7 million.
    -- Gross margin percentage increased to 52.6% which would have been higher
       by 2.5% had we excluded the CCSS acquisition (or 55.1%); for the full
       year 2007, the gross margin percentage was 50.7%.
    -- Pre-tax margin percentage increased to 27.8% which would have been
       higher by 3.3% had we excluded the CCSS acquisition (or 31.1%); for the
       full year 2007, the pre-tax margin percentage was 24.8%.
    -- Diluted net income per share increased to $0.10, which would have been
       $0.01 higher had we excluded the CCSS acquisition (or $0.11); for the
       full year 2007, diluted net income per share was $0.29.
    -- New bookings increased to $39.2 million, an increase of 42.5%; for 2007
       new bookings were a record $138.6 million.
    -- Backlog increased to $140.2 million as of December 31, 2007 (including
       the CCSS acquisition), an increase of 45.4% from the prior year.

The Company reported net income of $5.2 million for the fourth quarter of 2007, a 129.9% increase from $2.2 million in the fourth quarter of 2006. Diluted net income per share was $0.10 in the fourth quarter of 2007 (which was negatively affected by the CCSS transaction by $0.01), compared to $0.04 in the fourth quarter of 2006.

"We feel that the fourth quarter was a very successful one -- we recorded the highest level of net revenues in eRT's history, increased net income by 129.9%, recorded a near record level of new bookings, processed the highest number of ECG transactions in eRT's history and completed the acquisition of CCSS," said Dr. Michael McKelvey, President and CEO of eRT. "For the year, we grew net revenues by 14.3% and the bottom line by 83.5%, demonstrating the leverage of our operating model. We also recorded the highest level of new bookings in eRT's history. The CCSS integration is moving along as planned and will be an important factor in our long-term growth."

For the full year ended December 31, 2007, the Company reported net revenues of $98.7 million compared to $86.4 million for the full year ended December 31, 2006, a 14.3% increase. The Company's gross margin percentage for 2007 was 50.7% compared to 48.4% for 2006. Pre-tax income percentage for 2007 was 24.8% compared to 15.3% for 2006. The Company reported net income of $15.3 million, or $0.29 per diluted share, for 2007 compared to net income of $8.3 million, or $0.16 per diluted share, for 2006, an 83.5% increase. The Company's effective tax rate was 37.6% for 2007 compared to 37.1% for 2006.

Cash flow from operations for 2007 was $36.0 million, up from $16.3 million in 2006. After completing the CCSS transaction of $35.8 million, eRT ended the year with $46.9 million in cash, cash equivalents and investments.

Commenting on the year as a whole, Dr. McKelvey said "Our success in 2007 gives us a strong basis for growth in 2008 and beyond. We enter 2008 with a healthy backlog, a good trajectory of revenue growth, enhanced scale and increased market share from our recent acquisition, a strong pipeline of bookings opportunities and a state-of-the-art new workflow system (EXPeRT(R) 2) that provides us with a scalable platform for operational excellence. The clinical trials industry continues to focus on the importance of cardiac safety and running Thorough QTc trials. In addition, we also invested in our eClinical line of business and launched a new line of business -- electronic patient reported outcomes (ePRO)." As for 2008, Dr. Michael McKelvey concluded: "The strong momentum that we developed throughout 2007, along with a healthy overall business environment for cardiac safety and the need for technology-based solutions for clinical trials, gives us confidence that we will have a successful 2008."

2008 Guidance

The Company issued guidance for the first quarter of 2008. eRT anticipates net revenues of between $31.0 million and $33.0 million and net income per diluted share of $0.08 to $0.10 for the first quarter ending March 31, 2008. For the full year ending December 31, 2008, management anticipates net revenues of between $130 million and $137 million. Management anticipates earnings per diluted share of between $0.42 and $0.46 for the full year ending December 31, 2008. This guidance includes the costs associated with the closing of the Reno facility and other integration costs of CCSS. Costs associated with this will be more heavily skewed to the first three quarters of the year. Revenue and gross margin for the first three quarters will also include a higher percentage of lower margin backlog revenue then in the later part of the year.

Conference Call

Dr. McKelvey and Richard Baron, the Company's Chief Financial Officer, will hold a conference call to discuss these results. The conference call will take place at 5:00 p.m. EST on February 26, 2008. For the conference call interested participants should dial 866-578-5771 when calling within the United States or 617-213-8055 when calling internationally along with the pass code 91743845. There will be a playback available through 11:59 p.m. (Eastern) on March 4, 2008. To listen to the playback, please call 888-286-8010 when calling within the United States or 617-801-6888 when calling internationally. Please use pass code 46120621 for the replay.

This call is being webcast by Thomson Financial and can be accessed at eRT's web site at http://www.eRT.com. The webcast may also be accessed at http://phx.corporate-ir.net/playerlink.zhtml?c=119164&s=wm&e=1764127. The webcast can be accessed until February 26, 2009 on either site.

About eResearchTechnology, Inc.

Based in Philadelphia, PA, eResearchTechnology, Inc. (http://www.eRT.com) is a provider of technology and services to the pharmaceutical, biotechnology and medical device industries on a global basis. The Company is a market leader in providing centralized core-diagnostic electrocardiographic (ECG) technology and services to evaluate cardiac safety in clinical development. The Company is also a leader in providing technology and services to streamline the clinical trials process by enabling its customers to automate the collection, analysis, and distribution of clinical data in all phases of clinical development.

Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, including, but not limited to, 2008 financial guidance, involve a number of risks and uncertainties such as the Company's ability to obtain new contracts and accurately estimate net revenues due to uncertain regulatory guidance, variability in size, scope and duration of projects, and internal issues at the sponsoring client, integration of acquisitions, competitive factors, technological development, and market demand. As a result, actual results may differ materially from any financial outlooks stated herein. Further information on potential factors that could affect the Company's financial results can be found in the Company's Reports on Form 10-K and 10-Q filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

                  eResearchTechnology, Inc. and Subsidiaries
                    Consolidated Statements of Operations
                   (in thousands, except per share amounts)
                  Three Months Ended December 31,  The Year Ended December 31,
                             2006         2007          2006         2007
                          (unaudited)  (unaudited)               (unaudited)
    Net revenues:
      Licenses                $681         $687       $3,017       $2,700
      Services              13,269       21,565       55,309       69,547
      Site support           5,975        6,657       28,042       26,451
    Total net revenues      19,925       28,909       86,368       98,698
    Costs of revenues:
      Cost of licenses          58          105          286          304
      Cost of services       6,301        8,932       25,431       30,522
      Cost of site support   4,329        4,665       18,821       17,808
    Total costs of revenues 10,688       13,702       44,538       48,634
    Gross margin             9,237       15,207       41,830       50,064
    Operating expenses:
      Selling and marketing  2,364        3,143       11,051       11,222
      General and
       administrative        2,910        3,343       14,668       12,258
      Research and
       development             818        1,178        4,146        4,333
    Total operating
     expenses                6,092        7,664       29,865       27,813
    Operating income         3,145        7,543       11,965       22,251
    Other income, net          183          503        1,250        2,206
    Income before income
     taxes                   3,328        8,046       13,215       24,457
    Income tax provision     1,084        2,887        4,905        9,205
    Net income              $2,244       $5,159       $8,310      $15,252
    Basic net income per
     share                   $0.04        $0.10        $0.17        $0.30
    Diluted net income per
     share                   $0.04        $0.10        $0.16        $0.29
    Shares used to
     calculate basic
     net income per share   49,988       50,618       49,474       50,476
    Shares used to
     calculate diluted
     net income per share   51,364       51,929       51,485       51,743
                  eResearchTechnology, Inc. and Subsidiaries
                         Consolidated Balance Sheets
              (in thousands, except share and per share amounts)
                                           December 31, 2006 December 31, 2007
    ASSETS                                                       (unaudited)
    Current assets:
      Cash and cash equivalents                      $15,497        $38,082
      Short-term investments                          41,416          8,797
      Accounts receivable, net                        17,866         26,718
      Prepaid income taxes                             2,819            743
      Prepaid expenses and other                       2,761          3,087
      Deferred income taxes                              912            901
        Total current assets                          81,271         78,328
    Property and equipment, net                       31,129         33,347
    Goodwill                                           1,212         30,908
    Long-term investments                                928              -
    Intangible assts                                       -          3,849
    Deferred income taxes                                  -          1,011
    Other assets                                         524            253
        Total assets                                $115,064       $147,696
    LIABILITIES AND STOCKHOLDERS' EQUITY
    Current liabilities:
      Accounts payable                                $4,360         $3,505
      Accrued expenses                                 3,445         12,103
      Income taxes payable                               781          2,352
      Current portion of capital lease obligations        40          1,097
      Deferred revenues                               11,325         13,905
        Total current liabilities                     19,951         32,962
    Capital lease obligations, excluding current
     portion                                               -             48
    Deferred income taxes                              1,491              -
    Other liabilities                                      -          1,174
        Total liabilities                             21,442         34,184
    Stockholders' equity:
      Preferred stock-$10.00 par value, 500,000
       shares authorized, none issued and outstanding      -              -
      Common stock-$.01 par value, 175,000,000 shares
       authorized, 58,356,546 and 58,870,291 shares
       issued, respectively                              584            589
      Additional paid-in capital                      83,493         87,957
      Accumulated other comprehensive income           1,510          1,679
      Retained earnings                               70,225         85,477
      Treasury stock, 8,247,119 shares at cost       (62,190)       (62,190)
        Total stockholders' equity                    93,622        113,512
          Total liabilities and stockholders'
           equity                                   $115,064        $147,696
                  eResearchTechnology, Inc. and Subsidiaries
                    Consolidated Statements of Cash Flows
                                (in thousands)
                                                      Year Ended December 31,
                                                        2006           2007
                                                                   (unaudited)
    Operating activities:
      Net income                                      $8,310        $15,252
      Adjustments to reconcile net income to net
       cash provided by operating activities:
        Depreciation and amortization                 11,253         15,129
        Cost of sales of equipment                     3,722          1,143
        Provision for uncollectible accounts             111             30
        Share-based compensation                       2,975          2,004
        Investment impairment charge                     226              -
        Changes in operating assets and liabilities
         exclusive of CCSS acquisition:
          Accounts receivable                         (2,567)        (4,192)
          Prepaid expenses and other                     132            352
          Accounts payable                               950         (2,147)
          Accrued expenses                            (1,779)         2,806
          Income taxes                                (2,104)         3,137
          Deferred revenues                           (4,897)         2,487
            Net cash provided by operating
             activities                               16,332         36,001
    Investing activities:
      Purchases of property and equipment            (15,181)       (11,073)
      Purchases of investments                       (46,425)       (58,008)
      Proceeds from sales of investments              40,658         91,555
      Payments for acquisition                             -        (35,800)
        Net cash used in investing activities        (20,948)       (13,326)
    Financing activities:
      Repayment of capital lease obligations            (153)        (2,504)
      Proceeds from exercise of stock options          3,851          1,655
      Stock option income tax benefit                  3,400            760
      Repurchase of common stock for treasury         (5,803)             -
        Net cash provided by (used in) financing
         activities                                    1,295            (89)
    Effect of exchange rate changes on cash              386             (1)
    Net (decrease) increase in cash and cash
     equivalents                                      (2,935)        22,585
    Cash and cash equivalents, beginning of period    18,432         15,497
    Cash and cash equivalents, end of period         $15,497        $38,082