Director Shareholding

Reed Elsevier PLC
21 February 2005

           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 options were granted to directors of Reed Elsevier PLC and Reed
Elsevier NV on 17 February 2005, under the Reed Elsevier Group plc Share Option
Scheme.
Director                 No. of Reed Elsevier PLC options  No. of Reed Elsevier NV options     Exercisable
                            granted at 533.5p per share      granted at €11.31 per share

G J A van de Aast                     120,900                           82,478                  2008-2015
M H Armour                            150,422                          102,618                  2008-2015
Sir Crispin Davis                     292,409                          199,481                  2008-2015
E Engstrom                            154,517                          105,412                  2008-2015
A Prozes                              154,517                          105,412                  2008-2015
P Tierney                             154,517                          105,412                  2008-2015

Exercise of the above options is subject to a post grant performance condition,
requiring the achievement of 6% per annum compound growth in adjusted EPS at
constant currencies, during the three years following the grant. There is no
re-testing of the three year EPS performance period.


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