Holding(s) in Company

Ricardo PLC
31 July 2006



             NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   NAME OF LISTED COMPANY

     Ricardo plc

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     Aviva plc and its subsidiaries

3)   Please state whether notification indicates that it is 
     regarding the holding of the shareholder named in 2 above;
     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.

     Morley Fund Management Limited:
     BNY Norwich Union Nominees Limited       564,892*
     Chase GA Group Nominees Limited        1,197,509*
     Chase Nominees Limited                   152,686*
     CUIM Nominee Limited                     589,298*
     Vidacos Nominees Limited                  37,242*

     * denotes beneficial interest

5)   Number of shares/amount of stock acquired.

     n/a

6)   Percentage of issued Class (any treasury shares held by the
     listed company should not be taken into account when
     calculating percentage)

     n/a

7)   Number of shares/amount of stock disposed

     1,138,428

8)   Percentage of issued Class (any treasury shares held by the
     listed company should not be taken into account when
     calculating percentage)

     2.28%

9)   Class of security

     Ordinary GBP0.25 shares

10)  Date of transaction

     28 July 2006

11)  Date listed company informed

     31 July 2006

12)  Total holding following this notification

     2,541,627*
     
     *beneficial interest only
          
13)  Total percentage holding of issued class following this notification
     (any treasury shares held by the listed company should not be taken
     into account when calculating percentage)

     5.08%

14)  Any additional information

     Figures are based on shares in issue of 50,010,903

15)  Name of contact and telephone number for queries



16)  Name and signature of duly authorised officer of the listed company
     responsible for making this notification

     Date of Notification ........................




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