Holding(s) in Company

Ricardo PLC
06 July 2006



Letter to: Ricardo Plc
Dated: 05 July 2006


 
                                 RICARDO PLC 
                 S198 COMPANIES ACT 1985 INTEREST IN SHARES


On behalf of JPMorgan Fleming Mercantile Investment Trust Plc ('JPMFMIT') of 20
Finsbury Street, Finsbury Dials, London, EC2Y 9AQ, we would like to advise you
that, as a result of purchase(s), JPMFMIT has increased its material interest in
Ricardo plc (the 'Company') from 6.41% to 7.08%. Details are as follows:

Number of shares bought (% of share capital): 150,000 (0.30%)
Total number of shares held by JPMFMIT (% of share capital): 3,587,756 (7.08%)


From: J.P. Morgan Securities Ltd.


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