Director Shareholding

Ricardo PLC
22 November 2001

Ricardo plc - Directors' Interests in Shares

On 22 November 2001 Mourant & Co, Trustees Limited, as trustee of The Ricardo 
Group Employees' Share Ownership Plan (the 'Trust') acquired by subscription, at
a price of 475p per share, a total of 140,000 ordinary shares of 25p each in 
Ricardo plc (all of which are to be used to satisfy options exercised under the 
Company's executive share option scheme). As potential beneficiaries under the 
Trust, each executive director of Ricardo plc is treated as being interested in 
all shares acquired by the Trust. As of today's date, the Trust holds 140,000 
shares in the Company.

The directors of Ricardo plc who may be considered to be potential beneficiaries
of the shares detailed in this notification are:

R J Westhead 
A R Goodburn 
J R Needham 
C R Bates 
J W Holt

Name of contact and telephone number for queries:
M Wightman Tel: [phone]
Date of notification: 22 November 2001