QXL QXL

RNS Number:4176Y
QXL Ricardo PLC
15 June 2007

   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN THE UNITED STATES,
                           CANADA, AUSTRALIA OR JAPAN

PROPOSED SECONDARY PLACING OF ORDINARY SHARES IN QXL RICARDO PLC ("QXL ricardo"
                               or the "Company")

JPMorgan Cazenove Limited ("JPMorgan Cazenove" or the "Manager") today announces
the commencement of a secondary placing of approximately 7.25 million ordinary
shares in QXL ricardo, representing in aggregate 17% per cent. of the issued
share capital of the Company (the "Offer").

The sellers of the ordinary shares are Beleggingsmaatschappij Florissant NV and
individuals and companies represented by the Izaki group of shareholders
(together the "Selling Shareholders").  A further 915,995 shares are being
offered for sale on behalf of management and employees, most of which result
from the exercise of options by employees including some persons discharging
managerial responsibilities ("PDMRs").

The placing is intended to allow the Selling Shareholders to diversify their
investment portfolios and increase the free float and trading in the Company's
shares. Following the placing, the Selling Shareholders will continue to own in
aggregate c.14.5 million ordinary shares in QXL ricardo, representing c.33.3% of
the issued share capital of the Company following the placing. The Selling
Shareholders have consented to a lock-up of 120 days with respect to their
residual holdings. The Selling Shareholders have no current intention to sell
further shares in QXL ricardo.

The Offer will be in the form of a global private placement to international
institutional investors outside the US and to Qualified Institutional Buyers ("
QIBs") inside the US.

The Offer will be executed by way of an accelerated bookbuilding exercise, which
is expected to commence immediately. Pricing and allocation are expected to be
announced as soon as practicable following the closing of the books. The timing
of the closing of the books will be at the absolute discretion of the Manager.

Dated 15 June 2007

Enquiries:

JPMorgan Cazenove                    +44 (0)20 7588 2828

David Harvey-Evers

Nicholas Hall

MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING.
THIS ANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH IT RELATES ARE ONLY
ADDRESSED TO AND DIRECTED AT PERSONS WHO ARE (1) QUALIFIED INVESTORS WITHIN THE
MEANING OF DIRECTIVE 2003/71/EC AND ANY RELEVANT IMPLEMENTING MEASURES (THE
"PROSPECTUS DIRECTIVE") AND (2) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS
RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(1) OF THE FINANCIAL SERVICES
AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE "ORDER") OR ARE
PERSONS FALLING WITHIN ARTICLE 49(2)(A) TO (D)  ("HIGH NET WORTH COMPANIES,
UNINCORPORATED ASSOCIATIONS, ETC") OF THE ORDER OR ARE PERSONS TO WHOM AN OFFER
OF THE PLACING SHARES MAY OTHERWISE LAWFULLY BE MADE (ALL SUCH PERSONS TOGETHER
BEING REFERRED TO AS "RELEVANT PERSONS").  THE INFORMATION REGARDING THE PLACING
SET OUT IN THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO
ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS
ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED
IN ONLY WITH RELEVANT PERSONS.

This announcement has been issued by the Manager and is the sole responsibility
of the Manager.  This announcement is for information purposes only and does not
constitute an offer or an invitation to acquire or dispose of any securities of
QXL ricardo plc in the United States, Canada, Australia or Japan or in any other
jurisdiction in which such an offer of solicitation is unlawful.  The Placing
Shares have not been, and will not be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or an exemption from registration.  There will be no
public offering of securities in the United States.

Any investment decision to buy securities in the Placing must be made solely on
the basis of publicly available information which has not been independently
verified by the Manager or the Selling Shareholders.

Neither this announcement nor any copy of it may be taken, transmitted or
distributed, directly or indirectly in or into the United States, Canada,
Australia or Japan.  Any failure to comply with this restriction may constitute
a violation of United States, Canadian, Australian or Japanese securities laws.

The distribution of this announcement and the offering or sale of the Placing
Shares in certain jurisdictions may be restricted by law.  No action has been
taken by the Manager, or any of its affiliates, or any other person that would
permit an offer of the Placing Shares or possession or distribution of this
announcement or any other offering or publicity material relating to the Placing
Shares in any jurisdiction where action for that purpose is required.  Persons
into whose possession this announcement comes are required by the Manager to
inform themselves about and to observe any such restrictions.

The Manager is acting for the Selling Shareholders only in connection with the
Placing, and no one else, and will not be responsible to anyone other than the
Selling Shareholders for providing the protections offered to clients of the
Manager nor for providing advice in relation to the Placing.

End




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