QXL QXL

RNS Number:1772H
QXL Ricardo PLC
07 November 2007


                        QXL ricardo plc ("the Company")

                       Statement re. preliminary approach


The Company notes the recent movement in the Company's share price and confirms
that it has received a preliminary approach which may or may not lead to an
offer being made for the Company.


A further announcement will be made in due course.

Enquiries:

QXL ricardo plc
Christian Unger                                             +44 (0)20 7384 6310
Robert Dighero
Alison Cabot

JPMorgan Cazenove
David Harvey-Evers                                          +44 (0)20 7588 2828


Financial Dynamics
James Melville-Ross                                         +44 (0)20 7381 3113
Juliet Clarke
Matt Dixon

Relevant Securities in Issue:

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers the
Company confirms that at close of business on 6 November 2007 it has 46,184,709
Ordinary Shares of 5 pence each in issue and admitted to trading on the London
Stock Exchange under the UK ISIN code GB00B1HHK885.

Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any
person is, or becomes 'interested' (directly or indirectly) in 1% or more of any
class of 'relevant securities' of the Company, all 'dealings' in any 'relevant
securities' of that company (including by means of an option in respect of, or a
derivative referenced to, any such 'relevant securities') must be publicly
disclosed by no later than 3.30pm (London time) on the London business day
following the date of the relevant transaction. This requirement will continue
until the date on which the offer becomes, or is declared, unconditional as to
acceptances, lapses or is otherwise withdrawn or on which the 'offer period'
otherwise ends. If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire an 'interest' in
'relevant' securities' of the Company, they will be deemed to be a single person
for the purpose of Rule 8.3.

Under the provision of Rule 8.1 of the Code, all 'dealings' in 'relevant
securities' of the Company, or by any of their respective 'associates', must be
disclosed by no later than 12.00 noon (London time) on the London business day
following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.

'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to securities.

Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a 'dealing' under Rule 8, you should consult the Panel.

If you are in any doubt as to the application of Rule 8 to you, please contact
an independent financial advisor authorised under the Financial Services and
Markets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk or
contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
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