Holding(s) in Company

Ricardo PLC
28 March 2006


Letter to Ricardo Group Plc
Dated 24th March 2006


Section 198 Companies Act 1985


Pursuant to Section 198 of the Companies Act 1985 we write to inform you that as
at the close of its business on 23rd March 2006, UBS AG, acting through its
business group and legal entitles detailed below, had an interest in 1,715,350
Ordinary shares of Ricardo Group PLC, representing 3.43 per cent of the issued
share capital of the Company (50,010,903).


None of the Relevant Shares are shares in which UBS AG is interested by virtue 
of Section 208(5) of The Act.


UBS business group /legal entity            Breakdown of position held    (%)

UBS Global Asset Management (Life) Ltd       1,711,550 shares           3.42%

UBS AG London Branch                             3,800 shares           0.01%

UBS AG - Total                               1,715,350 shares           3.43%



If you require any further information concerning this notification, please 
contact Nimisha Sachdev in the EMEA Compliance Department of UBS AG London 
Branch on Tel: [phone].

Letter from UBS AG






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