William Blair & Company Initiates Coverage of Hill International, Inc. With Outperform Rating

  
    
  
  
    
      William Blair & Company initiated research coverage of Hill 
      International, Inc. (Nasdaq: HINT) ($13.22), a provider of project 
      management and consulting services related to construction activity, 
      with an Outperform rating and an Aggressive Growth company profile.
    
    
      Analyst Timothy McHugh estimated that the company would earn $0.43 per 
      share in 2007, $0.54 in 2008, and $0.65 per share in 2009.
    
    
      “With one of the largest construction 
      management operations in the Middle East, a growing market share in the 
      United States, and a highly regarded construction consulting business, 
      Hill International is well positioned to capitalize on growing demand 
      for construction management services, in our opinion,” 
      McHugh said. “We also believe there is a 
      significant opportunity for the company to expand into new geographies 
      and segments of the construction industry during the next few years 
      through a combination of organic and acquired growth.”
    
    
      “Hill International possesses many of the 
      investment characteristics that we look for in a professional services 
      company,” McHugh continued. “The 
      long-term nature of the company’s project 
      management contracts gives management strong visibility into future 
      revenue growth. The low capital intensity of the company’s 
      services also yields solid free cash flow and strong returns on capital. 
      Lastly, Hill International has a strong balance sheet and is led by an 
      experienced management team.”
    
    
      William Blair & Company, L.L.C. has received compensation for investment 
      banking services from the company within the past 12 months, or expects 
      to receive or intends to seek compensation for investment banking 
      services in the next 3 months.
    
    
      William Blair & Company, L.L.C. is a market maker in the security of 
      this company and may have a long or short position.
    
    
      William Blair & Company, L.L.C. (www.williamblair.com) 
      is a Chicago-based investment firm offering investment banking, asset 
      management, equity research, institutional and private brokerage, and 
      private capital to individual, institutional, and issuing clients. Since 
      1935, we have been committed to helping clients achieve their financial 
      objectives. As an independent, employee-owned firm, our philosophy is to 
      serve our clients' interests first and foremost.
    
    
      For important disclosures and information regarding the firm’s 
      rating system, valuation methods and potential conflicts of interest, 
      please visit: http://www.williamblair.com/Pages/news_story_dept.asp?uid=1310&depID=4
    
    
      Additional information is available upon request.