Director Shareholding

Reed Elsevier PLC
06 August 2004

           ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV

                             DIRECTOR SHAREHOLDING

We have received notification today of the following sale of securities in Reed
Elsevier PLC and Reed Elsevier NV, by Mr A Prozes, a director of Reed Elsevier
PLC and Reed Elsevier NV.

Reed Elsevier PLC

2,017 ADRs (representing 8,068 Reed Elsevier PLC ordinary shares) were sold
between 5 and 6 August 2004 at an average price of US$34.97 per ADR.

Reed Elsevier NV

14,040 ordinary shares were sold on 5 August 2004 at a price of €10.63 per
share.

Mr Prozes is selling the above shares as a consequence of his divorce
settlement.  Following the transaction, Mr Prozes still holds an interest in
102,809 Reed Elsevier PLC ordinary shares and 63,454 Reed Elsevier NV ordinary
shares.


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