Director/PDMR Shareholding

Reed Elsevier PLC
21 April 2006


           ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV


20 April 2006


         Interests of directors or other persons discharging managerial
                                responsibilities


Following approval of amendments to the Rules of the Reed Elsevier Group plc
Long Term Incentive Share Option Scheme ('LTIS') by shareholders of Reed
Elsevier PLC and Reed Elsevier NV, at their respective Annual General Meetings
on 18/19 April 2006, Reed Elsevier Group plc made an award of conditional shares
to the directors noted below on 19 April 2006.


Director                                                No. of Reed Elsevier    No. of Reed Elsevier NV  Vesting Date
                                                        PLC nil cost            nil cost conditional
                                                        conditional shares      shares awarded
                                                        awarded
G J A van de Aast                                               70,364                   46,332               2009
M H Armour                                                      75,075                   49,434               2009
C H L Davis                                                     144,550                  95,181               2009
E Engstrom                                                      82,092                   54,055               2009
A Prozes                                                        83,656                   55,085               2009
P Tierney                                                       80,528                   53,025               2009



The above awards will vest in 2009, subject to the achievement of 10% per annum
averaged compound growth in adjusted earnings per share (EPS) at constant
currencies of Reed Elsevier PLC and Reed Elsevier NV and the achievement of
median total shareholder return (TSR) against a comparator group of eighteen
media companies, over the three year performance period 2006-2008. The actual
number of conditional shares that will vest will be determined by the
Remuneration Committee, and in accordance with the Rules of the Scheme, by
reference to the actual EPS and TSR performance over the three year performance
period. No awards will vest if EPS is below 8% per annum. If EPS is 12% per
annum and above and TSR is upper quartile and above, 189% of the award will
vest.

Full details of the performance conditions, together with information concerning
the comparator group against which the TSR ranking will be measured, is
contained in the respective Notice of Annual General Meeting 2006, sent to
shareholders of Reed Elsevier PLC and Reed Elsevier NV, a  copy of which is
available on the Reed Elsevier website www.reedelsevier.com.


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