Holding in Company

Ricardo PLC
14 May 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

RICARDO PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

AEGON ASSET MANAGEMENT

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.

ROYAL BANK OF SCOTLAND TRUST NOMINEES LIMITED               1,565,229

CHASE NOMINEES LIMITED                                        413,000


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

14 MAY 2001

11)  Date company informed

14 MAY 2001

12)  Total holding following this notification

1,978,229
               
              
13)  Total percentage holding of issued class following this notification

4.07

14)  Any additional information


15)  Name of contact and telephone number for queries

M. WIGHTMAN
01273 455611

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

M. WIGHTMAN

     Date of Notification      14 MAY 2001