Holding(s) in Company

Ricardo PLC
02 May 2008


TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES
     
1.   Identity of the issuer or the underlying issuer of existing shares to which
     voting rights are attached :
     
     Ricardo plc

2.   Reason for the notification (please state Yes/No):

     An acquisition or disposal of voting rights:                        Yes

     An acquisition or disposal of financial instruments which 
     may result in the acquisition of shares already issued to 
     which voting rights are attached:                               

     An event changing the breakdown of voting rights:                

     Other (please specify) :     
                                    

3.   Full name of person(s) subject to the notification obligation :

     Montanaro Fund Managers


4.   Full name of shareholder(s) (if different from 3.):



5.   Date of the transaction (and date on which the threshold is crossed or
     reached if different) :

     23rd April 2008


6.   Date on which issuer notified:

     1st May 2008


7.   Threshold(s) that is/are crossed or reached:

     3%

8.   Notified details:


A:   Voting rights attached to shares

Class/type of shares if possible using  Situation previous to the Triggering
the ISIN CODE                           transaction 

                                        Number of      Number of voting Rights
                                        shares         

GB0007370074                            1,433,735      1,433,735


Resulting situation after the triggering transaction 

Class/type of shares if  Number of   Number of voting rights  % of voting
possible using the ISIN  shares                               rights
CODE
                         Direct      Direct      Indirect     Direct   Indirect
                                                 

GB0007370074             1,683,735   1,683,735                3.30%      

B: Financial Instruments
Resulting situation after the triggering transaction 

Type of      Expiration Exercise/      Number of voting rights that may % of
financial    Date       Conversion     be acquired if the instrument is voting
instrument              Period/ Date   exercised/ converted.            rights
                        


Total (A+B)
Number of voting rights                 % of voting rights

1,683,735                               3.30%

     
9.   Chain of controlled undertakings through which the voting rights and/or the
     financial instruments are effectively held, if applicable:


Proxy Voting:

10.   Name of the proxy holder:

     

11.  Number of voting rights proxy holder will cease to hold:

     

12.  Date on which proxy holder will cease to hold voting rights:



13.  Additional information:



14.  Contact name:               

     Matthew Francis, Montanaro

     

15.  Contact telephone number:

     020 7448 8800



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