Bond Offering

Reed Elsevier PLC
14 June 2005


                                  NEWS RELEASE

           Issued on behalf of Reed Elsevier PLC and Reed Elsevier NV

                                                                    14 June 2005

          Reed Elsevier Completes $700 Million Two Tranche Global Bond

Reed Elsevier announced today the completion of a $700 million two tranche
global bond through its wholly owned US subsidiary, Reed Elsevier Capital Inc.
Reed Elsevier will use the proceeds from the offering to refinance short term
borrowings.

The transaction is comprised of $450 million of seven year notes priced at US
Treasuries plus 90 basis points to yield 4.65% and $250 million of five year
floating rate notes priced at three month LIBOR plus 33 basis points. Citigroup
Global Markets and Deutsche Bank Securities were the Joint Bookrunners.
The notes were issued off a shelf registration statement filed with the US
Securities and Exchange Commission ('SEC').

This communication shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
jurisdiction.

A copy of the prospectus relating to the offering was filed with the SEC on 9
June 2005, and is available on the Reed Elsevier website at : http://
www.reedelsevier.com/index.cfm?articleid=173

Notes to Editors

Reed Elsevier Group plc is a world leading publisher and information provider.
It is owned equally by its two parent companies, Reed Elsevier PLC and Reed
Elsevier NV.  The parent companies are listed on the London, Amsterdam and New
York Stock Exchanges, under the following ticker symbols: London: REL; Amsterdam
: REN; New York: RUK and ENL.  In 2004, Reed Elsevier made adjusted profit
before taxation of £1,027 million/€1,510 million on turnover of £4,812 million/
€7,074 million.  The group employs 35,600 people, including approximately 20,000
in North America. Operating in the scientific, legal, educational and
business-to-business sectors, Reed Elsevier provides high value and flexible
information solutions to professional end users, with increasing emphasis on
internet delivery.

                                    - Ends -

For further information please contact:
Catherine May:                                    [phone]



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