Holding(s) in Company

Ricardo PLC
15 March 2004

                           SCHEDULE 10
 
             NOTIFICATION OF MAJOR INTERESTS IN SHARES


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 NOMINEEES LTD           456,997
     CHASE GA GROUP NOMINEES LTD             2,971,806
     CHASE NOMINEES LTD                        400,000
     CUIM NOMINEES LTD                         631,957
     RBSTB NOMINEES LTD                        250,000

5)   Number of shares/amount of stock acquired.

     300,564

6)   Percentage of issued Class

     0.60

7)   Number of shares/amount of stock disposed

     N/A

8)   Percentage of issued Class

     N/A

9)   Class of security

     ORDINARY SHARES

10)  Date of transaction

     11 MARCH 2004

11)  Date company informed

     15 MARCH 2004

12)  Total holding following this notification

     4,710,760
               
13)  Total percentage holding of issued class following this notification

     9.44

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 .... 15 MARCH 2004






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