AGM Statement

Ricardo PLC
10 November 2006



10 November 2006
                                  
                                   Ricardo plc

                               2006 AGM Statement


Ricardo plc is holding its Annual General Meeting today at which the Chairman,
Marcus Beresford, will make the following comments:

Overall, trading in the first quarter of the new financial year has been in line
with our expectations. Progress in the UK has been good and Germany has
continued its profit recovery, whilst trading was slow in both North America and
Strategic Consulting and this will constrain the growth in the first half
results.

The Group's order book at the end of the first quarter was 9% higher than it was
at the same time a year ago, with a strong pipeline of opportunities.

Our strategy of increasing focus on the Far East continues to drive growth in
that region, albeit with some increase in working capital requirements. We
continue to believe that this is the right strategy for Ricardo, providing world
class services globally with a unified team and culture, and as a board we
remain confident of further progress in the current financial year.



Further enquiries:

Ricardo plc
Dave Shemmans, CEO                              Tel: [phone]
Paula Bell, Finance Director                    Tel: [phone]
Website: www.ricardo.com


Gavin Anderson & Company
Fergus Wylie/Daniel Hunter                      Tel: [phone]



Notes to Editors:

Ricardo is a leading global provider of technology, engineering solutions and
strategic consulting to the world's automotive industries. It is headquartered
in the UK, with international offices in the US, Europe and Asia. It is listed
on the London Stock Exchange ('RCDO.L').

The Group combines business, product and process strategy with fundamental
technical research and the implementation of large-scale new product development
programmes to help its clients with business strategy and restructuring, process
re-engineering, vehicle, electronics & software, engine, transmission and
driveline design, as well as more traditional engineering, testing and systems
integration.

Ricardo serves a wide and balanced customer base represented by the leading
global automakers, vehicle component and system manufacturers, and automotive
regulatory agencies. It also serves other sectors such as motorcycle, heavy-duty
truck, off-road and military vehicles, marine and locomotive propulsion system
manufacturers, as well as leading teams in all forms of motorsport.





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