Director Shareholding

Reed International PLC
28 February 2002


Letter to Company Announcements Office


       ISSUED ON BEHALF OF REED INTERNATIONAL P.L.C. AND ELSEVIER NV

                          Director Shareholding

We are writing to advise you that we have today received notification of the
following transaction in the ordinary shares of Reed International P.L.C.:

M H Armour, a director of Reed International P.L.C. and Elsevier NV, exercised
an option today over 20,000 Reed International ordinary shares, at an option
price of 400.75p per share.  Mr Armour retained all of the shares arising from
the exercise of the option.

As a consequence of the above transaction, Mr Armour now holds an interest in
22,500 Reed International ordinary shares and 2,500 Elsevier ordinary shares.

Letter from Reed International PLC


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