Ricardo Opens New Facility in Shanghai

VAN BUREN TWP., Mich., Aug. 15, 2005 -- Global automotive technology provider Ricardo plc underscored its commitment to the Chinese automotive market with the official opening of its new suite of offices in Shanghai. Located in the Maxdo Centre in the Hongqaio area west of the city, the brand new offices were formally opened by Mr. Philip Mani, Deputy Consul General of the British Consulate General in Shanghai.

The new Ricardo facility in Shanghai provides Ricardo with a tangible presence in the rapidly expanding Chinese automotive industry. Customer demand was one of the original drivers for such a presence, something that has resulted in a number of significant recent business awards from Chinese customers.

While Ricardo has been active in the Chinese market for a number of decades, its business activities in China have grown substantially in recent years. Ricardo has traditionally supported the Western joint venture organizations, which value the global reach that Ricardo can offer by virtue of its extensive international network of technical centers. Most recently, Ricardo has also been assisting the domestic Chinese automakers in the development both of their own product ranges and in training and technology transfer to enable the development of their own research and development capabilities.

To coincide with the opening of its new Shanghai Representative Office, Ricardo is also considering establishing a wholly owned foreign entity (WOFE) in order to enable further improvements to the local service that Ricardo can offer to its Chinese customers and provide a basis for further development of the business.

Directed by Executive Vice President Stephen Clarke, the new Ricardo Shanghai Representative Office will provide a base for the long-term development of relationships in the fastest growing automotive marketplace in the world, where most analysts are forecasting a three-fold increase in car production by 2015.

"China is an increasingly important market for Ricardo as demonstrated by the significant programs already in progress with Chinese customers," said David Shemmans, Ricardo CEO designate. "The opening of the new Ricardo Shanghai office further demonstrates our commitment to work in partnership with our customers to create truly excellent automotive products within a world-class Chinese automotive industry."

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.

NOTE TO EDITORS: Images of the Shanghai office are available by contacting Jessica Killenberg at jkillenberg@bianchipr.com or by visiting http://www.ricardo.com .