London, 28 December 2001 - QXL ricardo plc (LSE: QXL; NASDAQ: QXLC; FRANKFURT: QXL.F) has announced its intention to change the ratio of its Ordinary Shares to its American Depositary Shares ("ADS") to two hundred fifty (250) Ordinary Shares for every one (1) ADS, effective 31 December 2001. Previously the ratio was twenty five (25) Ordinary Shares for every one ADS. This announcement follows the change which was made at this time last year, increasing the ratio from its original ratio of five (5) Ordinary Shares for every one ADS.

To effect this change in ratio, ADS holders will receive one (1) new ADS in exchange for every ten (10) old ADSs. Cash will be paid in lieu of fractional ADSs.

The trading symbol for the new ADSs will be QXLCD. The trading symbol will revert back to the original symbol, QXLC, 20 days after the effective date.