Holding(s) in Company

For filings with the FSA include the annex

For filings with issuer exclude the annex 

TR-1: Notifications of Major Interests 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 notification (yes/no)

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached 

No

An event changing the breakdown of voting rights

No

Other (please specify):______________

No

3. Full name of person(s) subject to notification obligation:

Aviva plc & its subsidiaries

4. Full name of shareholder(s) (if different from 3):

Registered Holder:

BNY Norwich Union Nominees Limited 150,292* Chase GA Group Nominees Limited 634,400*

Chase Nominees Limited 49,626*

CUIM Nominee Limited 92,786* Vidacos Nominees Limited 25,810* * denotes direct interest

Chase Nominees Limited 60,183 Delta Lloyd Europees Deelnemingen Fonds 3,917,555 Vidacos Nominees Limited 246,927

5. Date of transaction (and date on which the threshold is crossed or reached if different):

28 November 2008

6. Date on which issuer notified:

01 December 2008

7. Threshold(s) that is/are crossed or reached:

9% to 10% Change at Combined Interest Level

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

If possible use 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

Percentage of voting rights

Direct

Indirect

Direct

Indirect

GB0007370074

4,619,051

4,619,051

952,914

952,914

4,224,665

1.86%

8.26%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

N/A

Total (A+B)

Number of voting rights

Percentage of voting rights

5,177,579

10.12%

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

Proxy Voting:

10. Name of proxy holder:

See Section 4

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

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

13. Additional information:

Figures are based on a total number of voting rights of 51,154,745

14 Contact name:

Neil Whittaker

15. Contact telephone number:

01603 684420