Director/PDMR Shareholding

Reed Elsevier PLC 09 April 2008 ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV 9 April 2008 Director/PDMR Shareholding Reed Elsevier received notification on 8 April 2008 from Hill Samuel Offshore Trust Company Limited, the Trustees of the Reed Elsevier Employee Benefit Trust ('the Trustees'), that between 7-8 April 2008 the Trustees purchased on behalf of the directors of Reed Elsevier PLC and Reed Elsevier NV the number of shares/ ADRs noted in the table below, under the terms of the Reed Elsevier Group plc Bonus Investment Plan. As a consequence of these purchases, the directors received matching awards over the number of shares/ADRs also noted in the table below. Following these transactions their interests in the share capital of Reed Elsevier PLC and Reed Elsevier NV is as noted below. Director Reed Elsevier PLC Reed Elsevier NV Reed Elsevier PLC Reed Elsevier NV Current Current ordinary shares ordinary shares/ ordinary shares ordinary shares/ purchased on ADRs(1) purchased matching award ADRs(1) matching interest in interest in behalf of the on behalf of the award Reed Elsevier Reed Elsevier director director PLC ordinary NV ordinary shares shares Sir Crispin 56,423 - 96,227 - 749,876 386,940 Davis Mark Armour 14,829 10,014 25,291 16,993 115,751 53,478 Gerard van - 18,183 - 30,856 109,018 127,661 de Aast Erik - 8,933(1) - 15,159(1) 69,592 211,760 Engstrom Andrew 11,944 8,093 20,030 13,505 216,837 158,320 Prozes (1) denotes the purchase/award of an ADR PDMR Reed Elsevier PLC Reed Elsevier NV Reed Elsevier PLC Reed Elsevier NV ordinary shares ordinary shares/ ordinary shares ordinary shares/ purchased on ADRs(1) purchased matching award ADRs(1) matching behalf of the PDMR on behalf of the award PDMR Nick Baker 13,077 - 22,301 - Ian Fraser 21,419 - 36,530 - (1) denotes the purchase/award of an ADR The purchases by the Directors/PDMRs were at the following prices: Reed Elsevier PLC ordinary shares 658.5545p per share Reed Elsevier NV ordinary shares €12.3592 per share Reed Elsevier NV ADRs $38.9707 per ADR The Reed Elsevier Group plc Bonus Investment Plan permits directors and other senior executives to invest up to one half of their annual bonus in shares in the company, and receive an equivalent award of nil cost restricted shares from Reed Elsevier Group plc. The matching awards under the Plan vest after three years, subject to the participant retaining the shares which they have purchased under the Plan for a period of three years. In addition, in order for the matching award to vest, growth in the average of the Reed Elsevier PLC and Reed Elsevier NV adjusted EPS at constant currencies must exceed 8% per annum compound during the three years 2008-2010. This information is provided by RNS The company news service from the London Stock Exchange SFWUSASEEL

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