Director Shareholding

Reed Elsevier PLC
25 February 2003



Letter to RNS


             ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV


Director's interests 


We are writing to advise you that we received notifications today that the
following grants of options were made to directors of Reed Elsevier PLC and
Reed Elsevier NV on 21 February 2003, under the Reed Elsevier Group plc
Executive Share Option Scheme:

                                                                              
  Director            No. of Reed              No. of Reed          Exercisable 
                      Elsevier PLC             Elsevier  NV
                      shares over which        shares over which                  
                      an option has been       an option has been                    
                      granted at 451.5p per    granted at Euro9.34                   
                      share                    per share                             
C H L Davis           209,192                  148,946                 2006-2013    
M H Armour            104,319                   74,276                 2006-2013    
G J A van de Aast      81,728                   58,191                 2006-2013    
D J Haank              93,231                   66,381                 2006-2013    
A Proves              132,142                   94,086                 2006-2013

    
Exercise of the above options is subject to the earnings per share
performance conditions, as described in the company's Annual Reports and
Financial Statements.
 
 
Letter from REED ELSEVIER PLC


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