Holding(s) in Company

Ricardo PLC
9 April 2003


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     RICARDO PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

      AVIVA PLC

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.

     BNY NORWICH UNION NOMINEES LTD               473,297
     CHASE GA GROUP NOMINEES LTD                2,331,706
     CHASE NOMINEES LTD                           201,855
     CUIM NOMINEE LTD                             531,557
     RBSTB NOMINEES LTD                           128,898

5)   Number of shares/amount of stock acquired.

       N/A

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

      495,046

8)   (1.00%) of issued Class

9)   Class of security

     ORDINARY SHARES

10)  Date of transaction

      7 APRIL 2003

11)  Date company informed

      9 APRIL 2003

12)  Total holding following this notification

      3,667,313
               
13)  Total percentage holding of issued class following this notification

     7.37

14)  Any additional information



15)  Name of contact and telephone number for queries

      M WIGHTMAN
      01273 794416

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

     Date of Notification ....9 APRIL 2003....



                      This information is provided by RNS
            The company news service from the London Stock Exchange