Director Shareholding

Ricardo PLC
17 December 2001


                 Ricardo plc - Directors' Interests in Shares

On 17 December 2001 Ricardo Quest Trustees Limited, a wholly-owned subsidiary of
Ricardo plc, a trustee of the Ricardo Qualifying Employee Share Ownership Trust 
(the 'QUEST') acquired by subscription, at a price of 460p per share, a total of
51,295 ordinary shares of 25p each in Ricardo plc (all of which are to be used 
to satisfy options exercised under the Company's savings-related share option 
scheme). As potential beneficiaries under the QUEST, each executive director of 
Ricardo plc is treated as being interested in all shares acquired by the QUEST. 
As of today's date, the QUEST holds 51,295 shares in the Company.

The directors of Ricardo plc who may be considered to be potential beneficiaries
of the shares detailed in this notification are:

R J Westhead 
A R Goodburn 
J R Needham 
C R Bates 
J W Holt

Name of contact and telephone number for queries:
M Wightman Tel: [phone]/455611

Date of Notification  17 December 2001