Half year IFRS comparatives

Pearson PLC
30 June 2005



Thursday 30 June 2005

Pearson 2004 half year IFRS highlights

Pearson will announce its interim results for the six months to 30 June on 25
July 2005.

Ahead of that announcement we are today providing details of our 2004 half-year
comparative figures restated under International Financial Reporting Standards
(IFRS). Details of our transition to IFRS, including half-year and full-year
reconciliations and accounting policies, are available at www.pearson.com/ifrs.

Financial highlights
£ millions                             2004 half year          2004 full year
                                       UK GAAP      IFRS       UK GAAP    IFRS
--------------------------------------------------------------------------------
Sales                                     1,594      1,481      3,919    3,696
Business performance
Adjusted operating profit                    39         24        455      421
Adjusted (loss) / profit before tax           2        (16)       386      345
Adjusted (loss) / earnings                  (14)       (22)       239      217
Adjusted (loss) / earnings per share       (1.8)p     (2.8)p     30.0p    27.3p
--------------------------------------------------------------------------------
Statutory results
Operating profit                            (77)         9        231      404
(Loss) / profit before tax                 (112)       (33)       171      325
Basic (loss) / earnings per share         (15.5)p     (2.5)p     11.1p    32.9p
--------------------------------------------------------------------------------

Pearson Education
£ millions                               2004 half year         2004 full year
                                         UK GAAP      IFRS      UK GAAP    IFRS
--------------------------------------------------------------------------------
Sales
School                                      466        444      1,118    1,087
Higher Education                            187        186        731      729
Professional                                220        220        507      507
                             Total          873        850      2,356    2,323
--------------------------------------------------------------------------------
Adjusted operating profit / (loss)
School                                        8          3        117      108
Higher Education                            (41)       (42)       133      129
Professional                                  7          6         43       40
                             Total          (26)       (33)       293      277
--------------------------------------------------------------------------------


Penguin
£ millions                             2004 half year           2004 full year
                                       UK GAAP       IFRS       UK GAAP    IFRS
--------------------------------------------------------------------------------
Sales                                     341          341        786      786
Adjusted operating profit                  10            9         54       52
--------------------------------------------------------------------------------

FT Group
£ millions                             2004 half year          2004 full year
                                       UK GAAP      IFRS       UK GAAP    IFRS
--------------------------------------------------------------------------------
Sales
Financial Times                             104        104        208      208
Other FT publishing                          56         56        110      110
IDC                                         130        130        269      269
--------------------------------------------------------------------------------
Total continuing                            290        290        587      587
Discontinued (Recoletos)                     90                   190
                             Total          380                   777
--------------------------------------------------------------------------------
Adjusted operating profit / (loss)
Financial Times                              (6)        (7)        (9)     (12)
Other FT publishing                           6          6         11       10
Associates & JVs                              3          3          6        6
IDC                                          37         29         78       62
--------------------------------------------------------------------------------
Total continuing                             40         31         86       66
Discontinued (Recoletos)                     15         17         22       26
                             Total           55         48        108       92
--------------------------------------------------------------------------------

For more information:

Luke Swanson / Charlotte Elston: [phone]
www.pearson.com/ifrs




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