Holding in Company

Ricardo PLC
3 August 2000

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     RICARDO PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     CGNU PLC AND CERTAIN SUBSIDIARIES

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     AS IN 2 ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     AS IN 2 ABOVE

5)   Number of shares/amount of stock acquired.

     2,325,330

6)   (4.85%) of issued Class

7)   Number of shares/amount of stock disposed

     N/A

8)   ( N/A %) of issued Class

9)   Class of security

     ORDINARY SHARES

10)  Date of transaction

     1 AUGUST 2000

11)  Date company informed

     3 AUGUST 2000

12)  Total holding following this notification

     2,325,330
               
              
13)  Total percentage holding of issued class following this notification

     4.85

14)  Any additional information

     NO SHARES PURCHASED. NOTIFICATION REQUIRED FOLLOWING MERGER OF CGNU PLC    
    AND NORWICH UNION PLC

15)  Name of contact and telephone number for queries

     M. WIGHTMAN: [phone]

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification .....3 AUGUST 2000....