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QXL Ricardo PLC (TRAD)

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Friday 28 December, 2001

QXL Ricardo PLC

ADS Ratio Change

QXL Ricardo PLC
28 December 2001

                      QXL Announces Change in ADS Ratio

London, 28 December 2001 - QXL ricardo plc (LSE: QXL; NASDAQ: QXLC; FRANKFURT:
QXL.F) has announced its intention to change the ratio of its Ordinary Shares
to its American Depositary Shares ('ADS') to two hundred fifty (250) Ordinary
Shares for every one (1) ADS, effective 31 December 2001. Previously the ratio
was twenty five (25) Ordinary Shares for every one ADS. This announcement
follows the change which was made at this time last year, increasing the ratio
from its original ratio of five (5) Ordinary Shares for every one ADS.

To effect this change in ratio, ADS holders will receive one (1) new ADS in
exchange for every ten (10) old ADSs. Cash will be paid in lieu of fractional

The trading symbol for the new ADSs will be QXLCD.  The trading symbol will
revert back to the original symbol, QXLC, 20 days after the effective date.

For further information, please contact

Tom Parkinson, Company Secretary                      T: 020 8962 7109

QXL ricardo plc

James Melville-Ross                                   T: 020 7831 3113

Financial Dynamics

This press release may contain forward-looking statements that relate to the
Company's plans, objectives, estimates and goals. The Company's business is
subject to numerous risks and uncertainties, including risks associated with:
funding requirements; acquisitions; only having a limited operating history;
regulation of auctions and the Internet; probable variability in the Company's
quarterly operating results; the Company's results of operations not being
indicative of future performance; significant losses being incurred as a
result of expansion of the Company's business; dependence on growth of online
consumer-to-consumer commerce market; risks associated with development and
growth of the Company's foreign language web sites; intense competition;
failure to develop the Company's brand;  failure to expand the Company's
systems; risks associated with managing internal growth and retaining and
recruiting personnel; international expansion; online commerce security; risks
associated with not developing new services, features and functions; risks
associated with intellectual property rights;  fraudulent activity of the
Company's members and suppliers; and seasonality. These and other risks and
uncertainties, which are described in more detail in the Company's
Registration Statement, dated 7 October 1999, on Form F-1, and the Annual
Report dated 1 October 2001 on Form 20-F filed with the Securities and
Exchange Commission, in the Company's prospectus and listing particulars filed
with the UK Listing Authority and the Registrar of Companies in England and
Wales (the most recent being dated 22 May 2001), in the German Sales and
Listing Prospectus dated 23 October 2000 filed with the Frankfurt Stock
Exchange, could cause the Company's actual results and developments to be
materially different from those expressed or implied by any of these
forward-looking statements.