Holding in Company

Ricardo PLC
13 October 2000

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     RICARDO PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     CGNU PLC

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

     2 ABOVE

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

     BNY NORWICH UNION NOMINEES LTD          1,148,419
     CHASE GA GROUP NOMINEES LTD             1,018,388
     CHASE CA PENSION NOMINEES LTD              74,106
     CUIM NOMINEE LTD                          251,381

5)   Number of shares/amount of stock acquired.

     NOT DISCLOSED

6)   ( N/A %) of issued Class

     NOT DISCLOSED

7)   Number of shares/amount of stock disposed

     NOT DISCLOSED

8)   ( N/A %) of issued Class

     NOT DISCLOSED

9)   Class of security

     ORDINARY SHARES


10)  Date of transaction

     NOT DISCLOSED

11)  Date company informed

     11/10/00

12)  Total holding following this notification

     2,492,294
               
              
13)  Total percentage holding of issued class following this notification

      5.20%

14)  Any additional information

      NONE

15)  Name of contact and telephone number for queries

      SARA PHILLIPS
      0207 678 7358

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

                                   MUNRO WIGHTMAN
                                   01926 319319


     Date of Notification      13 OCTOBER 2000