Reed Elsevier PLC
12 August 2002
Issued on behalf of Reed Elsevier PLC and Reed Elsevier NV
Directors' Interests
We have today received notification of the following transactions in the
securities of Reed Elsevier PLC and Reed Elsevier NV:
On 9 August 2002, Mr A Prozes, a director of Reed Elsevier PLC and Reed Elsevier
NV, exercised a nil cost option over 20,168 ordinary shares in Reed Elsevier
PLC and 14,040 ordinary shares in Reed Elsevier NV. The option was satisfied by
the transfer of shares from the Reed Elsevier Employee Benefit Trust ('the
Trust'). Mr Prozes retained all of the shares and, as a consequence, he now
holds an interest in 63,497 Reed Elsevier PLC ordinary shares and 44,400 Reed
Elsevier NV ordinary shares.
On 9 August 2002 the Trust purchased 240,000 ordinary shares in Reed Elsevier NV
at an average price of Euro 12.24 per share
Between 9 and 12 August 2002 the Trust purchased 511,002 ordinary shares in Reed
Elsevier PLC at an average price of 550.78p per share.
Following the above transactions, the Trust now holds an interest in 2,840,047
Reed Elsevier PLC ordinary shares and 1,599,136 Reed Elsevier NV ordinary
shares.
The Trust is a discretionary employee benefit trust which is operated in
conjunction with Reed Elsevier's share option schemes, and which provides for
the transfer of shares to employees on the exercise of options 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.
12 August 2002
This information is provided by RNS
The company news service from the London Stock Exchange
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