Director/PDMR Shareholding

Reed Elsevier PLC
24 March 2006


24 March 2006

           ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV

                           Director/PDMR Shareholding


Reed Elsevier received notification today from Hill Samuel Offshore Trust
Company Limited, the Trustees of the Reed Elsevier Employee Benefit Trust ('the
Trustees') that on 23 March 2006 they released the following shares to directors
of Reed Elsevier PLC and Reed Elsevier NV at nil cost as a result of the vesting
of awards granted on 21 March 2003 under the Reed Elsevier Group plc Bonus
Investment Plan.

On 23/24 March the Trustees arranged for the sale of sufficient shares, as noted
below, in order to satisfy the personal tax and social security liabilities of
Sir Crispin Davis and Messrs van de Aast and Prozes arising from the vesting of
their awards.  Mr Armour has retained all of the shares released to him.


The number of shares released and sold were:

Ordinary Shares in Reed Elsevier PLC

Director                   No. of Reed Elsevier    No. of shares sold to
                           PLC shares released     satisfy tax liability

Sir Crispin Davis                 22,731          9,065 at 562p per share
M H Armour                        11,327                    Nil


Ordinary Shares in Reed Elsevier NV

Director                   No. of Reed Elsevier    No. of shares sold to
                            NV shares released     satisfy tax liability

Sir Crispin Davis                 16,115         6,407 at €12.09 per share
M H Armour                        8,030                     Nil
G J A van de Aast                 12,057         4,646 at €12.17 per share


ADRs in Reed Elsevier PLC

Director                   No. of Reed Elsevier     No. of ADRs sold to
                            PLC ADRs released      satisfy tax liability

A Prozes                          5,010           1,699 at US$39.4001 per
                                                            ADR

ADRs in Reed Elsevier NV

Director                   No. of Reed Elsevier     No. of ADRs sold to
                             NV ADRs released      satisfy tax liability

A Prozes                          7,276            2,477 at US$29.1902 per
                                                            ADR


The ordinary shares and ADRs required to satisfy the above releases have been
satisfied from the Reed Elsevier Employee Benefit Trust (the 'Trust').
Following the releases, the Trust now holds an interest in 11,854,679 ordinary
shares in Reed Elsevier PLC and 6,282,114 ordinary shares in Reed Elsevier NV.
The Trust is a discretionary employee benefit trust which may acquire shares in
Reed Elsevier PLC and Reed Elsevier NV by means of market purchases on the
appropriate Stock Exchange.  The Trust is operated in conjunction with Reed
Elsevier's share incentive schemes, and provides for the transfer of shares to
employees on the exercise of awards granted under the said schemes. Executive
directors of Reed Elsevier PLC and Reed Elsevier NV are, for technical
disclosure purposes, deemed to be interested in the shares held by the Trust, by
virtue of being potential beneficiaries under the Trust.



Reed Elsevier also received notification today that on 23 March 2006, Mr G J A
van de Aast exercised an option granted to him under the Reed Elsevier Group plc
Executive Share Option Scheme over 81,728 Reed Elsevier PLC ordinary shares at
451.50p per share, and 58,191 Reed Elsevier NV ordinary shares at €9.34 per
share.  In order to meet the cost of exercise and tax liability arising on this
exercise, Mr van de Aast sold 72,076 Reed Elsevier PLC ordinary shares at 565p
per share and 50,355 Reed Elsevier NV ordinary shares at €12.105 per share.


Following the above transactions the interests of the following directors in the
share capital of Reed Elsevier have increased as noted below.
     
(a)  Sir Crispin Davis now holds an interest in 542,513 Reed Elsevier PLC
     and 307,969 Reed Elsevier NV ordinary shares.

(b)  Mr Armour now holds an interest in 110,648 Reed Elsevier PLC and
     46,757 Reed Elsevier NV ordinary shares.

(c)  Mr van de Aast now holds an interest in 28,252 Reed Elsevier PLC and
     50,692 Reed Elsevier NV ordinary shares.

(d)  Mr Prozes now holds an interest in 104,688 Reed Elsevier PLC and
     83,230 Reed Elsevier NV ordinary shares.


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