Director Shareholding

Ricardo PLC
19 May 2003


                     Ricardo plc - Directors' Interests in Shares

On 19 May 2003 Ricardo Quest Trustees Limited, a wholly-owned subsidiary of
Ricardo plc, a trustee of the Ricardo Qualifying Employee Share Ownership Trust
(the 'QUEST') acquired by subscription, at a price of 345p per share, a total of
16,888 ordinary shares of 25p each in Ricardo plc (all of which are to be used
to satisfy options exercised under the Company's savings-related share option
scheme).  As potential beneficiaries under the QUEST, each executive director of
Ricardo plc is treated as being interested in all shares acquired by the QUEST.
As of today's date, the QUEST holds 16,888 shares in the Company.

The directors of Ricardo plc who may be considered to be potential beneficiaries
of the shares detailed in this notification are;

R J Westhead 

A R Goodburn 

C R Bates 

J W Holt 

S Parker 

G Andrews 

C Hickman

Name of contact and telephone number for queries:

M Wightman Tel: [phone]/455611

Name and signature of authorised company official responsible for making this
notification.
 
M Wightman
 
Date of Notification 19 May 2003


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