Holding in Company

Ricardo PLC
5 December 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

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.

BNY NORWICH UNION NOMINEES LTD       1,374,294
CHASE GA GROUP NOMINEES LTD          1,264,592
CHASE GA PENSION NOMINEES LTD           84,254
CUIM NOMINEES LTD                      287,913


5)   Number of shares/amount of stock acquired.

NOT DISCLOSED


6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

NOT DISCLOSED


8)   ( N/A %) of issued Class

9)   Class of security

ORDINARY SHARES


10)  Date of transaction

NOT DISCLOSED


11)  Date company informed

5 DECEMBER 2000


12)  Total holding following this notification

3,011,053

               
              
13)  Total percentage holding of issued class following this notification

6.28%


14)  Any additional information



15)  Name of contact and telephone number for queries

M. WIGHTMAN
01926 319 335


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

     Date of Notification     5 DECEMBER 2000