ERES East Resources Acquisition Company

eResearchTechnology, Inc. Updates First Quarter Outlook PHILADELPHIA, March 10 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), (NASDAQ:ERES), a leading provider of centralized electrocardiographic (ECG) collection and interpretation services, updated its outlook for the first quarter ended March 31, 2005. eRT expects revenue in the first quarter to be 12 to 18% below the low end of the previous guidance range due to delays in trial starts, reluctance of sponsors to initiate thorough cardiac safety studies until there is further regulatory guidance, and uncertainty related to the timing of closing targeted one-time system and technology contracts in the quarter. Due to the relatively fixed nature of the operating expenses, the percentage impact on earnings per share will be greater than on revenue. "As we have previously disclosed, there is a considerable amount of uncertainty in the clinical research or drug development industry at this time, due in part to evolving regulatory guidance. Such uncertainty has caused a slowing in new signings as well as delays in the initiation of new studies. This trend has continued in the first quarter. We believe that regulators will reinforce the importance of cardiac safety testing in clinical trials at the upcoming targeted conferences on this issue in April and May 2005, and will further clarify the regulatory guidance last provided in September 2004, so that the continued uncertainty that we believe has temporarily impacted our industry will be alleviated," commented Joseph Esposito, President and CEO. The company plans to announce complete first quarter results on April 27, 2005 and will provide additional information regarding full year 2005 revenues and earnings at that time based on having more complete information including the status on contracts received by the end of the quarter. 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 involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. 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 Forms 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. DATASOURCE: eResearchTechnology, Inc. CONTACT: Bruce Johnson of eResearchTechnology, Inc., +1-215-282-5580; or Matt Hayden of Hayden Communications, +1-858-704-5065, for eResearchTechnology Web site: http://www.ert.com/

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