PAREXEL INTERNATIONAL CORPORATION TO BE ADDED TO THE NASDAQ BIOTECHNOLOGY INDEX

BOSTON, MA, November 17, 2003 — PAREXEL International Corporation (Nasdaq: PRXL) today announced that it has been selected for inclusion in the NASDAQ Biotechnology Index (NASDAQ: NBI) effective with the opening of the stock market on Monday, November 24, 2003. The Index consists of pharmaceutical and biotechnology companies as classified by the FTSETM Global Stock Classification System. All securities in the Index are listed on the NASDAQ National Market and meet minimum requirements for market value, average daily share volume and seasoning as a public company.

Launched in 1993, the NASDAQ Biotechnology Index is ranked on a semi-annual basis in May and November. It serves as the basis for the iShares NASDAQ Biotechnology IndexSM Fund (Amex: IBB), which seeks investment results that generally correspond to the price and yield performance of the NASDAQ Biotechnology Index before fees and expenses.

PAREXEL is one of the largest biopharmaceutical outsourcing organizations in the world, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. With a commitment to providing solutions that expedite time-to-market and peak market penetration, PAREXEL has developed significant expertise in clinical trials management, data management, biostatistical analysis, medical marketing, clinical pharmacology, regulatory and medical consulting, industry training and publishing and other drug development consulting services. Its information technology subsidiary, Perceptive Informatics, Inc., develops and offers a portfolio of innovative technology-based products and services that facilitate clinical drug development and are designed to decrease time to peak sales. The technology portfolio includes web-based portal solutions and tracking tools, Interactive Voice Response Systems (IVRS), Clinical Trial Management Systems (CTMS), electronic diary and investigator database solutions. Perceptive also offers advanced medical diagnostics services to assess rapidly and objectively the safety and efficacy of new drugs, biologics, and medical devices in clinical trials. PAREXEL’s integrated services, therapeutic area depth and sophisticated information technology, along with its experience in global drug development and product launch services, represent key competitive strengths. Headquartered near Boston, MA, PAREXEL operates in 57 locations throughout 36 countries around the world, and has 5,105 employees.

PAREXEL is a registered trademark of PAREXEL International Corporation, and Perceptive Informatics is a trademark of Perceptive Informatics, Inc. All other names or marks may be registered trademarks or trademarks of their respective owners and are hereby acknowledged.

This release contains "forward-looking" statements regarding future results and events. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects", "intends", "appears", “estimates”, “projects” and similar expressions are intended to identify forward-looking statements. These statements involve a number of risks and uncertainties. Important factors that might cause such a difference include, but are not limited to, risks associated with: actual operating performance; actual expense savings and other operating improvements resulting from recent restructurings; the loss, modification, or delay of contracts; the Company's dependence on certain industries and clients; the Company's ability to win new business, manage growth, and attract and retain employees; the Company's ability to complete additional acquisitions and to integrate newly acquired businesses or enter into new lines of business; government regulation of the drug, medical device and biotechnology industry; consolidation within the pharmaceutical industry; competition within the biopharmaceutical services industry; the potential for significant liability to clients and third parties; the potential adverse impact of health care reform; and the effects of exchange rate fluctuations and other international economic, political, and other risks. Such factors and others are discussed more fully in the section entitled "Risk Factors" of the Company’s Form 10-Q for the quarter ended September 30, 2003 as filed with the Securities and Exchange Commission on November 12, 2003, which “Risk Factors” discussion is incorporated by reference in this press release. The Company specifically disclaims any obligation to update forward-looking statements in the future. The forward-looking statements should not be relied upon as representing the Company’s estimates or views as of any date subsequent to the date of this press release.