AGM Statement

Ricardo PLC
9 November 2001

                               9 November 2001

                                 Ricardo plc
                           Annual General Meeting


Ricardo plc ('Ricardo'), the UK's leading independent automotive and
powertrain engineering consultancy, held its Annual General Meeting this
morning.

Commenting on trading, Sir Noel Davies, Chairman of Ricardo said the
following:

'Since our Preliminary Results announcement of 24th September, we have had an
opportunity to examine the available trends and information following the
events of September 11th.   The position remains that we have had no
significant cancellation of orders and negotiations with our major clients,
for projects essential to support our order book going forward, remain
encouraging.

In conclusion, I am pleased to confirm that we believe we can maintain our
record of profitable growth for the foreseeable future.'


Enquiries:


Ricardo plc
Rodney Westhead/Andrew Goodburn                              Tel: [phone]

Gavin Anderson & Company
Laura Hickman/Charlotte Stone                                Tel: [phone]