Ricardo Expands in Japan with New Tokyo Facility

VAN BUREN TWP., Mich., Oct. 20, 2005 -- Following a nine-fold increase in its Japanese business in the past five years, global automotive technology provider Ricardo plc today formally opened its new facility close to the center of Tokyo's main business district. Located in the landmark FukokuSemiei building overlooking Hibiya Park and the Imperial Palace, the new office was formally opened by Graham Fry, British Ambassador to Japan.

Ricardo has been active in Japan since the 1960s. Since Japan will continue to be a key market for the company, Ricardo is expanding its presence there to meet local needs for new technology and compressed development cycles.

Changes in outsourcing policies and increasing alliances between Japanese, North American and European automakers has helped Ricardo's Japanese order intake to grow dramatically in the current decade.

The new Ricardo Tokyo facility is intended to facilitate further penetration of the Japanese market by improving the quality and responsiveness of service provided to customers. The company has already recruited a number of Japanese engineers to work alongside the existing team, who will share this facility with visiting engineers from the company's international network of technical centers located throughout Europe, North America and Asia. This solid investment will enable the company to improve the quality, responsiveness and competitiveness of service delivered to its Japanese customers.

Fry formally opened the new facility today. Commenting on this key expansion of Ricardo's technical and commercial reach into the Japanese automotive market, incoming Ricardo chief executive officer Dave Shemmans said: "Following five years of dramatic growth of Ricardo's business in Japan, the new Tokyo facility is a further sign of our commitment to increase and improve the level of service we provide to our customers in this technologically advanced and challenging market. Together with our recently announced expansion in China, the new facility in Tokyo underscores the fact that Ricardo is becoming a major technology presence throughout the Asia- Pacific region."

With its North American headquarters in Van Buren Twp., Mich., Ricardo has been a world-leading vehicle system and powertrain technology provider for automotive manufacturers, heavy-duty manufacturers and tier one suppliers since 1915.

The company provides expertise ranging from designing and developing engines, transmissions and drivelines, to integrating vehicle systems and creating software solutions, to developing gasoline, diesel, hybrid and fuel cell technology.

Ricardo is committed to excellence and industry leadership in people, technology and knowledge. A public company based in the U.K., Ricardo plc posted sales of $274 million in fiscal year 2004 and is a part of the FTSE techMark 100 index -- a group of innovative technology companies listed on the London Stock Exchange.