Forrester Research says the time is now for IT leaders to step up and drive business innovation in their firms. At IT Forum 2008, Forrester will identify how leaders across the IT organization can help lay the foundation and drive the process of business innovation. Nine role-focused tracks have been designed to show attendees how to deliver maximum business value from IT and how to collaborate with the business to pursue the technologies, architecture and IT practices that drive innovation and top-line growth.

WHEN: May 20-23, 2008

WHERE: The Palazzo at The Venetian

3325 Las Vegas Blvd. South

Las Vegas, NV 89109

+1 702.414.1000

WHO: In addition to more than 75 of Forrester's industry-leading analysts, featured keynote speakers from industry include:

-- Chris Capossela, Senior Vice President, Microsoft Business Division, Microsoft

-- John Chambers, Chairman and Chief Executive Officer, Cisco Systems

-- Marta Foster, Vice President, Business Solutions, Global Business Services, Procter & Gamble

-- Dean Hager, Senior Vice President of Product Management, Lawson Software

-- Mark J. Hennessy, Vice President and Chief Information Officer, IBM

-- Rich Lechner, Vice President, Marketing and Strategy, Enterprise Systems, IBM

-- Andy Roach, Chief Information Officer/B2B Technology Practice Lead, Ketchum

-- Tim Stanley, CIO and Senior Vice President, Innovation, Gaming & Technology, Harrah's Entertainment

-- Rebecca Wanta, Former Senior Vice President and CIO, Best Buy

CONTACT: Complete Event information is available at: http://www.forrester.com/ITForum2008.

MEDIA: Members of the media can register for the IT Forum 2008 by providing their full contact information to press@forrester.com.

About Forrester Research

Forrester Research, Inc. (Nasdaq : FORR) is an independent technology and market research company that provides pragmatic and forward-thinking advice to global leaders in business and technology. For more than 24 years, Forrester has been making leaders successful every day through its proprietary research, consulting, events, and peer-to-peer executive programs. For more information, visit www.forrester.com .

(C) 2008, Forrester Research, Inc. All rights reserved. Forrester is a registered trademark of Forrester Research, Inc.

SOURCE: Forrester Research, Inc.

Forrester Research, Inc.
Phil LeClare, + 1 617-613-6441
Public Relations Manager
press@forrester.com

Forrester Research, Inc. (Nasdaq: FORR) is an independent technology and market research company that provides pragmatic and forward-thinking advice to global leaders in business and technology. For more than 24 years, Forrester has been making leaders successful every day through its proprietary research, consulting, events, and peer-to-peer executive programs. For more information, visit www.forrester.com.

(C) 2008, Forrester Research, Inc. All rights reserved. Forrester is a registered trademark of Forrester Research, Inc.

SOURCE: Forrester Research, Inc.

Forrester Research, Inc.
Russell Sweeney, +1 617-613-6350
Investor Relations

-- Gartner is improving its growth and margins by increasing sales productivity, accelerating their syndicated research products, and improving consultant utilization. Despite its commanding 40% market share of the global market for IT research and conferences, its addressable market for research alone could exceed $20 billion.

About Boenning & Scattergood: Founded in 1914, Boenning & Scattergood, Inc. is the oldest independently owned investment securities firm in the Philadelphia region. The firm offers a full compliment of investment services to institutional, retail and corporate clients, including research, sales, trading, investment banking and public finance. For more information, please visit www.boenninginc.com.

This release is neither an offer to sell nor a solicitation to buy any securities mentioned herein. Please refer to the full report, which is available upon request, for additional details and disclosures.

SOURCE: Boenning & Scattergood

Boenning & Scattergood
William Sutherland
610-862-5353
wsutherland@boenninginc.com

-- Total revenues were $55.0 million, compared with $47.3 million for the first quarter of last year.

-- On a GAAP-reported basis, Forrester reported net income of $5.0 million or $0.21 per diluted share, compared with net income of $2.0 million, or $0.09 per diluted share, for the same period last year.

-- On a pro forma basis, net income was $6.2 million, or $0.26 per diluted share, for the first quarter of 2008, which reflects a pro forma effective tax rate of 39 percent. Pro forma net income excludes non-cash stock-based compensation expense of $1.4 million, amortization of $171,000 of acquisition-related intangible assets, marketable and non-marketable investment gains of $497,000, and a net benefit of $68,000 related to the settlement of stock option-related payroll tax exposure offset by professional fees related to the stock option investigation and restatement of the Company's historical financial statements. This compares with pro forma net income of $4.8 million, or $0.20 per diluted share, for the same period in 2007, which excludes non-cash stock-based compensation expense of $2.6 million, amortization of $392,000 of acquisition-related intangible assets, non-marketable investment gains of $174,000, and expenses related to the stock option investigation and restatement of the Company's historical financial statements of $1.7 million, and which reflects a pro forma effective tax rate of 39 percent.

A reconciliation of GAAP results to pro forma results may be found in the attached financial tables. Forrester believes that pro forma financial results provide investors with consistent and comparable information of Forrester's ongoing business. Forrester uses pro forma financial information to manage its business, including use of pro forma financial results as the basis for setting targets for various compensation programs.

"Our first-quarter results demonstrate a positive start to 2008," said George F. Colony, Forrester's chairman of the board and chief executive officer. "We fell squarely in the range of our revenue and pro forma EPS targets, and deferred revenue increased nicely quarter over quarter and year over year, which should bode well for the remainder of 2008. During the first quarter, we introduced a new metric to gauge the success and penetration of the role-based strategy we launched last year. Roles per client measures the average number of roles Forrester serves in each of its client companies. As of the first quarter, this metric stood at 3.2."

Forrester is providing second-quarter 2008 financial guidance as follows:

Second-Quarter 2008 (GAAP):

-- Total revenues of approximately $62.0 million to $64.5 million.

-- Operating margin of approximately 15 percent to 17 percent.

-- Other income of approximately $1.8 million.

-- An effective tax rate of 39 percent to 41 percent.

-- Diluted earnings per share of approximately $0.26 to $0.32

Second-Quarter 2008 (Pro Forma):

Pro forma financial guidance for the second quarter of 2008 excludes amortization of acquisition-related intangible assets of approximately $23,000, non-cash stock-based compensation expense of $1.2 million to $1.6 million, costs related to the stock option investigation and restatement of the Company's historical financial statements of approximately $100,000, and any gains or impairment charges related to marketable and non-marketable investments.

-- Pro forma operating margin of approximately 18 percent to 19 percent.

-- Pro forma effective tax rate of 39 percent.

-- Pro forma diluted earnings per share of approximately $0.32 to $0.36.

Forrester is providing full-year 2008 guidance as follows:

Full-Year 2008 (GAAP):

-- Total revenues of approximately $240 million to $248 million.

-- Operating margin of approximately 14 percent to 16 percent.

-- Other income of approximately $8 million.

-- An effective tax rate of 41 percent.

-- Diluted earnings per share of approximately $1.14 to $ 1.24.

Full-Year 2008 (Pro Forma):

Pro forma financial guidance for full-year 2008 excludes non-cash stock-based compensation expense of $5.0 million to $ 6.0 million, amortization of acquisition-related intangible assets of approximately $250,000, costs related to the stock option investigation and restatement of the Company's historical financial statements of $200,000 to $500,000, and gains or impairment charges related to marketable and non-marketable investments.

-- Pro forma operating margin of approximately 17 percent to 18 percent.

-- Pro forma diluted earnings per share of approximately $1.28 to $1.36.

-- An effective tax rate of 39 percent.

Forrester Research, Inc. (Nasdaq : FORR) is an independent technology and market research company that provides pragmatic and forward-thinking advice to global leaders in business and technology. For more than 24 years, Forrester has been making leaders successful every day through its proprietary research, consulting, events, and peer-to-peer executive programs. For more information, visit www.forrester.com .

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, Forrester's financial and operating targets for the second quarter of and full-year 2008. These statements are based on Forrester's current plans and expectations and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual future activities and results to differ include, among others, Forrester's ability to anticipate business and economic conditions, technology spending, market trends, competition, industry consolidation, the ability to attract and retain professional staff, possible variations in Forrester's quarterly operating results, risks associated with Forrester's ability to offer new products and services, and Forrester's dependence on renewals of its membership-based research services and on key personnel. Forrester undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. For further information, please refer to Forrester's reports and filings with the Securities and Exchange Commission.

The consolidated statements of income, consolidated balance sheets, and consolidated statements of cash flows follow.

(C) 2008, Forrester Research, Inc. All rights reserved. Forrester is a trademark of Forrester Research, Inc.

Forrester Research, Inc.
Consolidated Statements of Income
----------------------------------------------------------------------
(In thousands, except per share data)

                                                  Three months ended
                                                        March 31,
                                                    2008      2007
                                                  --------------------
                                                      (Unaudited)

Revenues
 Research services                                $35,949  $31,302
 Advisory services and other                       19,025   16,015
                                                  -------- -------

Total revenues                                     54,974   47,317

Operating expenses
 Cost of services and fulfillment                  21,148   19,838
 Selling and marketing                             18,850   17,117
 General and administrative                         7,226    7,758
 Depreciation                                       1,036      923
 Amortization of intangible assets                    171      392
                                                  -------- -------

Total operating expenses                           48,431   46,028

 Income from operations                             6,543    1,289

 Other income, net                                  2,072    1,866
 Realized gains from securities and non-
  marketable investments                              497      174
                                                  -------- -------

 Income from operations before income taxes         9,112    3,329

 Income tax provision                               4,084    1,299
                                                  -------- -------


 Net income                                       $ 5,028  $ 2,030
                                                  ======== =======


 Diluted income per share from net income         $  0.21  $  0.09
                                                  ======== =======

                                                  ======== =======
 Diluted weighted average shares outstanding       23,617   23,752
                                                  ======== =======

 Basic income per share from net income           $  0.22  $  0.09
                                                  ======== =======

                                                  ======== =======
 Basic weighted average shares outstanding         23,048   23,058
                                                  ======== =======


Pro forma data (1):
 Income from operations                           $ 6,543  $ 1,289
 Amortization of intangible assets                    171      392

 Investigation related expenses                       (68)   1,742

 Non-cash stock-based compensation included in
  the following
  expense categories:
  Cost of services and fulfillment                    768    1,462
  Selling and marketing                               270      678
  General and administrative                          368      478
                                                  -------- -------

 Pro forma income from operations                   8,052    6,041

 Other income, net                                  2,072    1,866
                                                  -------- -------
 Pro forma income before income taxes              10,124    7,907

 Pro forma income tax provision                     3,948    3,084
                                                  -------- -------

 Pro forma net income                             $ 6,176  $ 4,823
                                                  ======== =======

 Pro forma diluted earnings per share             $  0.26  $  0.20
                                                  ======== =======
 Diluted weighted average shares outstanding       23,617   23,752
                                                  ======== =======


(1) Forrester believes that pro forma financial results provide
 investors with consistent and comparable information to aid in the
 understanding of Forrester's ongoing business. Forrester uses pro
 forma financial information to manage its business, including use of
 pro forma results as the basis for setting targets for various
 compensation programs. Our pro forma presentation excludes
 amortization of intangibles, non-cash stock-based compensation
 expense, gains from marketable and non-marketable investments, costs
 associated with the stock option investigation and restatement of our
 historical financial statements, as well as their related tax
 effects. The pro forma data does not purport to be prepared in
 accordance with Accounting Principles Generally Accepted in the
 United States.

Forrester Research, Inc.
Consolidated Balance Sheets
----------------------------------------------------------------------
(In thousands)

                                                  March 31,  December
                                                                31,
                                                     2008      2007
                                                  ---------- ---------


Assets:
 Cash and cash equivalents                        $ 126,510  $ 53,163
 Available-for-sale securities                       79,613   195,811
 Accounts receivable, net                            50,880    69,865
 Deferred commissions                                10,300    10,631
 Deferred income taxes, net                          11,694    13,236
 Prepaid expenses and other current assets           10,079    11,304
                                                  ---------- ---------
Total current assets                                289,076   354,010
 Available-for-sale securities                       61,412         -
 Property and equipment, net                          6,830     6,834
 Goodwill, net                                       53,769    53,677
 Intangible assets, net                                 150       309
 Deferred income taxes, net                           4,271     2,274
 Non-marketable investments and other assets          9,437     9,253
                                                  ---------- ---------
Total assets                                      $ 424,945  $426,357
                                                  ========== =========

Liabilities and stockholders' equity:
 Accounts payable                                 $   3,347  $  4,174
 Accrued expenses                                    25,835    28,891
 Deferred revenue                                   117,059   111,418
                                                  ---------- ---------
Total current liabilities                           146,241   144,483
                                                  ---------- ---------
Non-current liabilities                               6,936     6,858
 Preferred stock                                                    -
 Common stock                                           284       282
 Additional paid-in capital                         291,388   284,431
 Retained earnings                                   86,506    81,478
 Treasury stock, at cost                           (104,902)  (90,428)
 Accumulated other comprehensive loss                (1,508)     (747)
                                                  ---------- ---------
Total stockholders' equity                          271,768   275,016
                                                  ---------- ---------
Total liabilities and stockholders' equity        $ 424,945  $426,357
                                                  ========== =========

Forrester Research, Inc.
Consolidated Statements of Cash Flows
----------------------------------------------------------------------
(In thousands)

                                              Three months ended March
                                                         31,
                                                 2008        2007
                                              (Unaudited) (Unaudited)

Cash flows from operations:
 Net income                                     $   5,028   $   2,030
 Adjustments to reconcile net income to net
  cash provided by operating activities -
  Depreciation                                      1,036         923
  Amortization of intangible assets                   171         392
  Non-cash stock-based compensation                 1,406       2,618
  Increase in provision for doubtful accounts          96         100
  Deferred income taxes                               605         952
  Gains from non-marketable investments              (100)       (174)
  Gains on sales of available-for-sale
   securities                                        (397)          -
  Amortization of premiums on available-for-
   sale securities                                    187         173
  Changes in assets and liabilities -
   Accounts receivable                             19,802      19,457
   Deferred commissions                               331         521
   Prepaid expenses and other current assets        1,873      (2,790)
   Accounts payable                                  (886)       (689)
   Accrued expenses                                (3,819)     (2,115)
   Deferred revenue                                 4,419          88
                                              ------------------------
Net cash provided by operating activities          29,752      21,486

Cash flows from investing activities:
 Purchases of property and equipment                 (954)     (1,993)
 Proceeds from non-marketable investments             200         300
 Decrease in other assets                             202          86
 Purchases of available-for-sale securities      (390,696)   (225,360)
 Proceeds from sales and maturities of
  available-for-sale securities                   442,962     204,310
                                              ------------------------
Net cash provided by (used in) investing
 activities                                        51,714     (22,657)

Cash flows from financing activities:
 Proceeds from exercises of employee stock
  options                                           4,377         811
 Excess tax benefits from non-cash stock-
  based compensation                                1,175           -
 Acquisition of treasury shares                   (14,474)          -
                                              ------------------------
Net cash (used in) provided by financing
 activities                                        (8,922)        811

Effect of exchange rate changes on cash and
 cash equivalents                                     803          48
                                              ------------------------

Net increase (decrease) in cash and cash
 equivalents                                       73,347        (312)

Cash and cash equivalents, beginning of
 period                                            53,163      39,157
                                              ------------------------

Cash and cash equivalents, end of period        $ 126,510   $  38,845
                                              ========================

SOURCE: Forrester Research, Inc.

Forrester Research, Inc.
Michael Doyle, +1 617-613-6000
Chief Financial Officer
mdoyle@forrester.com
or
Karyl Levinson, +1 617-613-6262
Vice President, Corporate Communications
press@forrester.com