Holding(s) in Company

Ricardo PLC
20 October 2003

                           SCHEDULE 10
 
             NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   NAME OF COMPANY

     RICARDO PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     AVIVA 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                    334,297

     CHASE GA GROUP NOMINEES LTD                     2,811,906

     CHASE NOMINEES LTD                                283,681

     CUIM NOMINEE LTD                                  457,557

     RBSTB NOMINEES LTD                                166,755
 

5)   Number of shares/amount of stock acquired.

     100,000


6)   Percentage of issued Class
  
     0.2

7)   Number of shares/amount of stock disposed

     N/A

8)   Percentage of issued Class

     N/A

9)   Class of security

     ORDINARY SHARES


10)  Date of transaction

     9 OCTOBER 2003


11)  Date company informed

     13 OCTOBER 2003


12)  Total holding following this notification

     4,051,196

               
13)  Total percentage holding of issued class following this notification

     8.12


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    20 OCTOBER 2003


                           SCHEDULE 10
 
             NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   NAME OF COMPANY

     RICARDO PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     HERMES ADMINISTRATION SERVICES LIMITED


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.

     BRITEL FUND NOMINEES LTD                   1,332,775
 
     CHASE NOMINEES LTD                           190,163

     HERMES ADMINISTRATION SERVICES LIMITED     1,522,938 

5)   Number of shares/amount of stock acquired.

     NOT DISCLOSED


6)   Percentage of issued Class
  
     N/A

7)   Number of shares/amount of stock disposed

     NOT DISCLOSED

8)   Percentage of issued Class

     N/A

9)   Class of security

     ORDINARY SHARES


10)  Date of transaction

     9 OCTOBER 2003


11)  Date company informed

     10 OCTOBER 2003


12)  Total holding following this notification

     3,045,876

               
13)  Total percentage holding of issued class following this notification

     6.11


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    20 OCTOBER 2003


                           SCHEDULE 10
 
             NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   NAME OF COMPANY

     RICARDO PLC


2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     STANDARD LIFE INVESTMENTS


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.

     STANLIFE NOMINEES LIMITED 

5)   Number of shares/amount of stock acquired.

     N/A


6)   Percentage of issued Class
  
     N/A

7)   Number of shares/amount of stock disposed

     462,866

8)   Percentage of issued Class

     0.93%

9)   Class of security

     ORDINARY SHARES


10)  Date of transaction

     9 OCTOBER 2003


11)  Date company informed

     10 OCTOBER 2003


12)  Total holding following this notification

     2,467,592

               
13)  Total percentage holding of issued class following this notification

     4.95


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    20 OCTOBER 2003


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