Director Shareholding

Reed Elsevier PLC
19 April 2005


           ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV

                              Directors' interests


Reed Elsevier received notifications today of the following transactions in the
ordinary shares of Reed Elsevier PLC and Reed Elsevier NV involving the
directors noted below, which took place between 14th and 15th April 2005.
     
(a)  Sir Crispin Davis purchased 50,361 Reed Elsevier PLC ordinary shares under 
     the Reed Elsevier Group plc Bonus Investment Plan (the 'Plan'). As a result 
     of these purchases, Sir Crispin Davis now holds an interest in 523,828 Reed 
     Elsevier PLC and 298,261 Reed Elsevier NV ordinary shares.

     Following the above purchase, Sir Crispin Davis was granted a matching 
     award of nil cost restricted shares under the terms of the Plan over 86,042 
     Reed Elsevier PLC ordinary shares.

(b)  Mr M H Armour purchased 12,795 Reed Elsevier PLC ordinary shares and
     8,881 Reed Elsevier NV ordinary shares under the Plan.

     Following the above purchase, Mr Armour was granted a matching award of nil 
     cost restricted shares under the terms of the Plan over 21,861 Reed 
     Elsevier PLC and 15,098 Reed Elsevier NV ordinary shares.

     On 15th April 2005, Mr Armour exercised an option over 39,600 Reed Elsevier 
     PLC ordinary shares, granted to him on 26th April 1995 under the Reed 
     Elsevier Group plc Executive Share Option Scheme at 400.75p per share.  Mr 
     Armour retained all of the shares arising from the exercise of the option.

     Following the above transactions, Mr Armour now holds an interest in 99,321 
     Reed Elsevier PLC and 38,727 Reed Elsevier NV ordinary shares.

(c)  Mr G J A van de Aast purchased 15,761 Reed Elsevier NV ordinary shares 
     under the Plan.  As a result of this purchase, Mr van de Aast now holds an 
     interest in 18,600 Reed Elsevier PLC and 35,445 Reed Elsevier NV ordinary
     shares.

     Following the above purchase, Mr van de Aast was granted a matching award 
     of nil cost restricted shares under the terms of the Plan over 26,347 Reed 
     Elsevier NV ordinary shares.

(d)  Mr E Engstrom purchased 2,271 Reed Elsevier PLC American Depositary Shares 
     ('ADRs') (representing 9,084 Reed Elsevier PLC ordinary shares) under the
     Plan. As a result of this purchase, Mr Engstrom now holds an interest in 
     9,084 Reed Elsevier PLC ordinary shares.

     Following the above purchase, Mr Engstrom was granted a matching award of 
     nil cost restricted shares under the terms of the Plan over 3,505 Reed 
     Elsevier PLC ADRs (representing 14,020 Reed Elsevier PLC ordinary shares).

(e)  Mr A Prozes purchased 3,659 Reed Elsevier PLC ADR (representing 14,636 Reed 
     Elsevier PLC ordinary shares) and 5,089 Reed Elsevier NV ADRs (representing
     10,178 Reed Elsevier NV ordinary shares) under the Plan. As a result of 
     these purchases, Mr Prozes now holds an interest in 91,444 Reed Elsevier 
     PLC and 73,632 Reed Elsevier NV ordinary shares.

     Following the above purchase, Mr Prozes was granted a matching award of nil 
     cost restricted shares under the terms of the Plan over 5,939 Reed Elsevier 
     PLC ADRs (representing 23,756 Reed Elsevier PLC ordinary shares) and 8,261 
     Reed Elsevier NV ADRs (representing 16,522 Reed Elsevier NV ordinary 
     shares).

(f)  Mr P Tierney purchased 3,937 Reed Elsevier PLC ADRs (representing 15,748 
     Reed Elsevier PLC ordinary shares) and 5,475 Reed Elsevier NV ADRs
     (representing 10,950 Reed Elsevier NV ordinary shares) under the Plan.  As 
     a result of these purchases, Mr Tierney now holds an interest in 42,440 
     Reed Elsevier PLC and 28,902 Reed Elsevier NV ordinary shares.

     Following the above purchase, Mr Tierney was granted a matching award of 
     nil cost restricted shares under the terms of the Plan over 6,039 Reed 
     Elsevier PLC ADRs (representing 24,156 Reed Elsevier PLC ordinary shares) 
     and 8,400 Reed Elsevier NV ADRs (representing 16,800 Reed Elsevier NV 
     ordinary shares).

The ordinary shares and ADRs purchased by the directors were at the following
prices:

     Reed Elsevier PLC ordinary shares           538.3182p per share
     Reed Elsevier NV ordinary shares            €11.3877 per share
     Reed Elsevier PLC ADRs                      $40.6353 per ADR
     Reed Elsevier NV ADRs                       $29.2144 per ADR

The Reed Elsevier Group plc Bonus Investment Plan permits directors and other
senior executives to invest up to one half of their annual bonus in shares in
the company, and receive an equivalent award of nil cost restricted shares from
Reed Elsevier Group plc. The matching awards under the Plan vest after three
years, subject to the participant retaining the shares which they have purchased
under the Plan for a period of three years, and also subject to remaining in
Reed Elsevier's employment during this period.  In addition, in order for the
matching award to vest, growth in the average of the Reed Elsevier PLC and Reed
Elsevier NV adjusted EPS at constant currencies must exceed 6% per annum
compound during the three years 2005-2007.

Options granted under the Reed Elsevier Group plc Executive Share Option Scheme
are normally exercisable between three and ten years from the date of grant, at
the market price at the date of grant.




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