Director Shareholding

Ricardo PLC
17 October 2002

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS
AVS NO


        All relevant boxes should be completed in block capital letters.


1.           Name of company                     2.     Name of director

             RICARDO PLC                                A.R. GOODBURN


3.           Please state whether notification   4.     Name of the registered holder(s) and, if more than one holder,
             indicates that it is in respect of         the number of shares held by each of them (if notified)
             holding of the shareholder named in
             2 above or 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 or in respect of an
             non-beneficial interest




5.           Please state whether notification   6.     Please state the nature of the transaction. For PEP transactions
             relates to a person(s) connected           please indicate whether general/single
             with the director named in 2 above         co PEP and if discretionary/non discretionary /non discretionary
             and identify the connected person
             (s)                                        
                                                        GRANT OF OPTION



7.           Number of   8.         Percentage   9.     Number of shares/amount of 10.       Percentage of issued class
             shares/                of issued           stock disposed
             amount of              class
             stock
             acquired



11.    Class of    12.        Price per    13.                Date of       14.              Date company informed
       security               share                           transaction




15.          Total holding following this        16.                 Total percentage holding of issued class following
             notification                                            this notification




If a director has been granted options by the company please complete the following boxes.


17.          Date of grant                       18.    Period during which or date on which exercisable

             22 OCTOBER 2002                            6 MONTHS FROM 1 DECEMBER 2005


19.          Total amount paid (if any) for      20.    Description of shares or debentures involved: class, number
             grant of the option
                                                        
             N/A                                        4,048 ORDINARY SHARES


21.          Exercise price (if fixed at time of 22.    Total number of shares or debentures over which options held
             grant) or indication that price is         following this notification
             to be fixed at time of exercise
                                                        
             233.4p                                     N/A


23.          Any additional information          24.    Name of contact and telephone number for queries
             granted under share save scheme            alexander garton, 020 7678 7508


25.          Name and signature of authorised company official responsible for making this notification

             M WIGHTMAN


Date of notification ___________17/10/2002________





                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS
AVS NO


        All relevant boxes should be completed in block capital letters.

1.           Name of company                     2.     Name of director

             RICARDO PLC                                R.J WESTHEAD


3.           Please state whether notification   4.     Name of the registered holder(s) and, if more than one holder,
             indicates that it is in respect of         the number of shares held by each of them (if notified)
             holding of the shareholder named in
             2 above or 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 or in respect of an
             non-beneficial interest




5.           Please state whether notification   6.     Please state the nature of the transaction. For PEP transactions
             relates to a person(s) connected           please indicate whether general/single
             with the director named in 2 above         co PEP and if discretionary/non discretionary /non discretionary
             and identify the connected person
             (s)                                        GRANT OF OPTION




7.           Number of   8.         Percentage   9.     Number of shares/amount of 10.       Percentage of issued class
             shares/                of issued           stock disposed
             amount of              class
             stock
             acquired



11.    Class of    12.        Price per    13.                Date of       14.              Date company informed
       security               share                           transaction




15.          Total holding following this        16.                 Total percentage holding of issued class following
             notification                                            this notification




If a director has been granted options by the company please complete the following boxes.


17.          Date of grant                       18.    Period during which or date on which exercisable

             22 OCTOBER 2002                            6 MONTHS FROM 1 DECEMBER 2005


19.          Total amount paid (if any) for      20.    Description of shares or debentures involved: class, number
             grant of the option
                                                        
             N/A                                        1,619 ORDINARY SHARES


21.          Exercise price (if fixed at time of 22.    Total number of shares or debentures over which options held
             grant) or indication that price is         following this notification
             to be fixed at time of exercise
                                                        
             233.4p                                     N/A


23.          Any additional information          24.    Name of contact and telephone number for queries
             granted under share save scheme            

                                                        ALEXANDER GARTON, 020 7678 7508


25.          Name and signature of authorised company official responsible for making this notification

             M WIGHTMAN


Date of notification _____________17/10/2002________



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