AGM Statement

Ricardo PLC
04 November 2005


4 November 2005

                                  Ricardo plc
                                 AGM Statement

Ricardo plc is a leading UK independent automotive consultancy, employing nearly
1800 people with technical centres in the UK, USA, Germany and the Czech
Republic. The company's client list includes the world's major OEMs. Ricardo is
a constituent of the FTSE techMark 100.

Ricardo plc is holding its Annual General Meeting today at which the Chairman,
Marcus Beresford, will make the following comments:

Overall, trading in the first quarter of the new financial year has been in line
with our expectations and our view on the outlook remains in line with that
expressed at the time of our preliminary results in September, when we expected
to see a steadily improving performance for the current financial year.

Our research and development work continues to be focused on reductions in
exhaust emissions, cost effective fuel economy and the developments in new
powertrain solutions, particularly in hybrids. This positions us well for the
challenges of today's world.

Our improved geographical balance and wider spread of global customers gives us
greater confidence in our ability to benefit from the growth in developing
markets and to weather the stagnation in some of the mature markets. Ricardo's
expertise is respected throughout the world and I am confident that this will
remain so.

Despite some weakness in Europe, overall our order prospects are improved
compared to this time last year and at the end of September our order book was
up year on year. In line with previous years, we expect to give a clearer update
on order visibility at the time of our interims in February 2006, as the OEMs
traditionally release their new budgets in the first quarter of the calendar
year.

In conclusion, the Board is confident of further steady progress for the coming
year.

Enquiries:

Ricardo plc                                  Tel: [phone]
Dave Shemmans, Chief Executive
Andrew Goodburn, Finance Director
www.ricardo.com

Gavin Anderson & Company                     Tel: [phone]
Fergus Wylie / Robert Speed




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