Holding(s) in Company

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise
price

Expiration
date

Exercise/
Conversion
period

Number of voting
rights instrument
refers to

% of voting rights

RNS Number : 0615C

Ricardo PLC

05 November 2009

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Ricardo plc

2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights		X
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):	Disclosure of holdings follows the sale of Insight Investment Management Limited on 2 November 2009. This notification supersedes any notifications previously issued by Lloyds Banking Group plc.	X

3. Full name of person(s) subject to the notification obligation:	Lloyds Banking Group plc
4. Full name of shareholder(s) (if different from 3.):	See Section 9.
5. Date of the transaction and date on which the threshold is crossed or reached:	02 November 2009
6. Date on which issuer notified:	04 November 2009
7. Threshold(s) that is/are crossed or reached:	N/A - direct/indirect holdings remains above 9%

8. Notified details:
A: Voting rights attached to shares
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights		% of voting rights
			Direct	Direct	Indirect	Direct	Indirect
Ord 25p	5,081,387	5,081,387	545,033	545,033	4,471,533	1.062%	8.715%
GB0007370074

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date	Exercise/ Conversion Period	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights
N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

5,016,566

9.778%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

5,007,506 shares (9.760%) are under the control of Scottish Widows Investment Partnership Ltd, a wholly owned subsidiary of Scottish Widows Group Ltd, a wholly owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds Banking Group plc (Direct/Indirect Interests).

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

Notification using the Total Voting Rights figure of 51,307,089

14. Contact name:

Matthew Wilson

15. Contact telephone number: