Holding(s) in Company

Ricardo PLC
19 March 2002


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     RICARDO PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     LEGAL AND GENERAL INVESTMENT MANAGEMENT

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.

     MATERIAL INTEREST

     HSBC GLOBAL CUSTODY NOMINEE (UK) LTD A/C 887711          220,000
     HSBC GLOBAL CUSTODY NOMINEE (UK) LTD A/C 775245          204,191
     HSBC GLOBAL CUSTODY NOMINEE (UK) LTD A/C 360509           33,314
     HSBC GLOBAL CUSTODY NOMINEE (UK) LTD A/C 357206          813,087
     HSBC GLOBAL CUSTODY NOMINEE (UK) LTD A/C 747381           71,123
     HSBC GLOBAL CUSTODY NOMINEE (UK) LTD A/C 363605           85,000
     HSBC GLOBAL CUSTODY NOMINEE (UK) LTD A/C 866203           37,000

                                                            1,463,715      3.00%

5)   Number of shares/amount of stock acquired.

     100,000

6)   (0.2%) 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

     14 MARCH 2002

11)  Date company informed

     15 MARCH 2002

12)  Total holding following this notification

     1,463,715
               
13)  Total percentage holding of issued class following this notification

     3.00

14)  Any additional information



15)  Name of contact and telephone number for queries

     M WIGHTMAN - 01273 794416

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

     Date of Notification ...19 MARCH 2002............



                      This information is provided by RNS
            The company news service from the London Stock Exchange