QXL ricardo plc (the “Company”) announces that on 28 March 2003 it was awarded an injunction by the Appellate Court of Poznań to protect the Company’s interests in QXL Poland Sp. z.o.o. (“QXL Poland”).

The injunction includes a number of provisions. In particular, it prohibits NIAA Sp z.o.o. (“NIAA”) from dealing or exercising voting rights in the 92% holding in QXL Poland registered in NIAA’s name. It also prohibits the sale of any assets of QXL Poland outside the ordinary course of business, pending resolution of the Company’s outstanding legal claims.

In its decision, the court accepted the Company’s arguments that it had been deceived by Arjan Bakker and his associates regarding the issue of shares to NIAA and that NIAA was effectively controlled by Mr Bakker.

The Company believes that this decision should greatly assist with its attempts to recover full ownership and control of QXL Poland. Further information regarding progress with the Company’s claims will be announced at the appropriate time.