AGM Statement - 'Good Performance Across Business'

Ricardo Group PLC 5 November 1999 RICARDO GROUP plc ANNUAL GENERAL MEETING Ricardo, the leading independent automotive and powertrain engineering consultancy, held its Annual General Meeting this morning. Commenting on trading, Sir Noel Davies, Chairman said the following: 'I stated at the time of the Preliminary Results on 13 September that I was optimistic about the future for Ricardo. I am pleased to report that with four months of trading completed, we have seen a good performance across the business. In the US, Ricardo Inc. continues to produce steadily improving profits. This strong start to the year is expected to continue and I remain confident that Ricardo will sustain further good progress in the current financial year. I am also pleased to announce that Ricardo has been admitted to the newly formed techMARK index for technology companies, which was established yesterday.' Enquiries: Ricardo Group plc Tel: 01273 455611 Rodney Westhead Gavin Anderson & Company Tel: 0171 457 2345 Marc Popiolek / Laura Hickman

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