Holding in Company

Ricardo PLC
27 February 2001



                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

Ricardo plc


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

Hermes Administration Services Limited


3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

As in 2 above


4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

BriTtel Fund Nominees Ltd


5)   Number of shares/amount of stock acquired.

Not Disclosed


6)   ( N/A %) of issued Class


7)   Number of shares/amount of stock disposed

Not Disclosed


8)   ( N/A %) of issued Class


9)   Class of security

Ordinary Shares


10)  Date of transaction

23 February 2001


11)  Date company informed

26 February 2001


12)  Total holding following this notification

1,335,982

                             
13)  Total percentage holding of issued class following this notification

2.77


14)  Any additional information



15)  Name of contact and telephone number for queries

M. Wightman  01926 319 335


16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ... 27 February 2001 ..